A qualified audit report means there is a disagreement between the auditors and directors, regarding the contents of the financial report. Without KNOWING the answer we are both/all clearly only speculating of course, but my comments are my gut feeling, working in the industry.
I would have thought ASX would be obliged to investigate any and all qualified audit reports as a matter of course, as they potentially point to integrity of published financial data that would thus be market sensitive.
As for milestones, I would have thought they are as I described above. The product is either being used or it isn't, surely it's a binary situation? $50 licence fee, if you use the product you incur that fee. I can't imagine there are "stages" of completion as such.
Chinese Whisper, page-12
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