This is interesting - no mention of any "deal" involving HIV specifically - just a move to anti-viral treatments.
Commercialisation The Company’s preclinical and clinical development activities are undertaken with the sole aim of achieving a commercial outcome for its promising antiviral programs.
$393k in the bank at the end of last quarter. They already had $244k in debts and have now fully used up the$500k financing agreement. Be interesting to know how much cash BIT has in the bank now.
Auditors sounded alarms.
The Company has incurred a trading loss of $3,436,524 for the year ended 30 June 2024 and has accumulated losses of $58,680,788 at 30 June 2024. The Company has cash on hand of $393,198 at 30 June 2024 and used $3,568,566 of cash in operations for the year ended 30 June 2024 and received $1,645,114 in research and development government incentives. During the year ended 30 June 2024, the Company raised $19,836 from the exercise of options. As at 30 June 2024, the Company had net liabilities of $244,032 and subsequent to year end, the Company entered into a finance facility for an amount of $500,000 which was fully drawn post year end (refer to Note 22). These conditions give rise to a material uncertainty that may cast significant doubt upon the Company’s ability to continue as a going concern.
BIT Price at posting:
2.3¢ Sentiment: Sell Disclosure: Not Held
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