Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-10

What would any potential loan documentation look like with a possible million dollar tax liability hanging over their heads.

I'm guessing that this is why there has been no formal announcement regarding a funding deal.

Having said that, there must be something in the pipeline because management has once again stated that new shareholders funds are 'not' required. And its not legal to run a company knowing that it is insolvent.