Ann: Update on voluntary suspension, page-155

It all sounds extremely suspicious.

Does that mean they tried to access their $30m in the quarter ended Dec 2023 but could only get their hands on $1.3m?

If so, why didn't they raise the alarm then? Why did it take the auditors to discover that the "term deposit" was in fact something quite different?

Given their current account balance was down to $1.4m and their expenses for the quarter were $12.5m you'd expect they'd be doing some cash flow management well before the auditors look a look in January and discovered $30m missing.

And looking again at the December quarterlies, they show interest received (YTD) of $14,000. But even at just 4% you'd be expecting them to be earning $1.2m pa on $30m, or a YTD figure of around $600K. Where is it?

Edit: not to mention the most unbelievable thing - that this was all done singlehandedly by Steve McGovern without anyone else in the company having any idea.