'There were $6m of current liabilities as at 30th June.'Assume you're converting Euros to AUD to get $6m? the balance sheet states current liabilities at €3.7m
Note the €3.17m current liability for borrowings.
Note 13 in the document covers this line in the balance sheet
So out of the €3.7m in current liabilities 82% can be addressed without parting with additional cash (issuing convertible notes)
In addition to this, the balance sheet has €2.1m current assets (€400k cash), and not included in this is the €1,835,087 from the recent cap raise. So we have about €2.2m cash. Operating cashflow is about €550k per quarter (€1.1m in last 6 months), so the existing balance should give us roughly 4 quarters to start finding revenue or additional finance. That makes me fairly comfortable. Existing agreements are in place. We just have to actually launch. Bloody covid!
Hope that's right. Just my opinion and happy to be challenged on what I've written. DYOR
