Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-15

There is absolutely ZERO chance this company ever reappears.

$9 million in liabilities
$2 million in payables
$90k in the bank and
they've drawn down $3.5m from Mercer. Mercer I imagine will probably have security of the assets, so there's nothing left.

These are the unaudited accounts, I can't see there's a hope an auditor signs off on this given it remains suspended.

I lay the blame for this purely at the feet of Bob who has presided over complete and utter mismanagement and reckless spending whilst paying himself handsomely all the while without achieving anything of note in the clinic despite the massive spend.

Administration as I see it is the only option - potentially this could go straight to liquidation. As for shareholders, there will be basically zero ever recouped. It is an unmitigated disaster.