Ann: Appendix 4D and Half Year Report, page-5

Read the auditors report - hence the sell off.

They state very clearly there is material uncertaining in the business and have qualified their opinion and made a point to state the company is now a “going concern”.

Sadly as expected poor management has seen a great company with lots of promise demise. Each of the last placement holders have seen losses the next day and subsequent cash burn at an even faster pace... not sure why they participated. More logical to suggest the company wanted to raise a lot more and only managed to get $1m.