Ann: Pentanet secures binding commitments to raise $6.1 million, page-8

As I posted in September last year - when they were 29c! This is a plaything of Cornish - when its other people's money it's easy to spend it. The cost of acquisition would continue to impact cashflow - and the slow rollout of new technology (with inevitable problems) should have been planned for. They have lost momentum and NBN has continued to upgrade (and will continue to do so - with no limit on its capital investment).
The idea that you could make money out of gaming whilst at the same time build a Fixed Wireless business, was always going to distract them. They needed to focus on the rollout, grow quickly and build reputation as a viable alternative to the NBN. Instead they just bleed money and have become a capital sink hole.