Ann: Phase II Results, page-52

".... With a market cap of $4.15 million, and 7.6 million in the bank.....".

No, it's not like that - see below. ($4.0m + $5.6m + $0.9m) - $9.2m = $1.3 million at best. See below from this announcement.

"As of 30 June 2022, Hexima had cash of $4.0 million. Hexima expects to receive, under the Australian Government R&D Tax Incentive scheme together with other short term receivables, a further $5.6 million. This is likely to be offset by estimated current and near term liabilities (including the costs associated with the activities described above through to 30 September 2022) of $9.2 million. This analysis does not include certain non-current tangible assets including Hexima’s glasshouse facility which is currently leased to a third party and which was valued in Hexima’s accounts as at 31 December 2021 at $0.9 million."