chart, page-21

My opinion is that ASX got it wrong. CBZ clearly stated in their Quarterly report that they were happy with their finances, "Given the completion of the current Phase IIa RA Trial and the availability of the SpringTree facility the Board are confident the Company's current and planned drug development activities will be able to be financed adequately." Is ASX implying CBZ have overestimated their liquidity levels? I may be wrong as I don't fully understand the ASX rules but the ASX query has me confused.

Either way can't see anything but good news coming our way. If CBZ wanted to raise capital and the PhIIa results were poor they would have planned a CR before the results came out at the higher SP rather than later. It only stands to reason the results are good and if they had to CR it would be at the higher SP or not bother at all if a 3rd party got involved.

Because they have been blind sided a bit, I think CBZ have been thinking long and hard on their strategy. Not many happy with the ASX query in my opinion.