so are these guys able to satisfy the asx that they can pay their debts as and when they are due? Are they insolvent?
they have $1.05 in cash
they have $1.5 in current liabilities
so they are 450k short of being able to pay existing current liabilities. they also have ongoing expenses to run the company which will make the situation worse.
the only lifeline would be a capital raise, but at what price??
Ann: Half Year Financial Report to 31 December 2023, page-2
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