You should have qualified your comments by reference to the Investigating Accountants report.
KPMG's letter highlights inherent uncertainty as to: 1) the capital raising; 2) the ability to comemrcialise the technology; and 3) ability to recover the value of intangibles and capitalised costs.
You will find this information on pages 28 and 29 of the Prospectus.
The proformas also disclose a negative net asset position of $50M, on a post-fundraising basis.
In other words, the Company would return to the bourse with a substantial negative net asset position, and inherent uncertainty about the company's ability to trade on a "going concern" basis.
So, some things may be promising, but many, many other issues out there. But essentially, the company has negative $50M in equity meaning that for all the prospective trading value of the shares, they would be worth nil even before you started with an insolvency situation.
A long, long way to go, therefore, before you can really suggest that all systems are go - or doesn't having a proforma, post capital raising negative net asset position of $50M give rise to any cause for concern?
