Company is in a tough spot. As of 31 Dec, the treasury was $4.6M. Based on projected spend, that might now be down to $0.5M (enough to take us through to end April). This suspension has been in place for six weeks. The company has conducted a capital raise and collected the money. But it hasn't issued shares to participants. Considering it's financial situation, I wonder why the company hasn't applied to the ASX for those shares to be issued (companies can do this even when the stock is suspended)
The most obvious explanation is the Company wants to keep the CR open, so it can expand the scope to also include the 'strategic investor' mentioned in the Annual Report. This might concievably increase the size of the raise from $7M to $14M (The company cannot raise more than 25% of SOI without seeking shareholder approval, and it's unlikely to hae enough money left to spend the time required to convene an EGM). In any case, it seems strange that we would be spending six weeks (so far) negotiating with a 'strategic investor' for a $7M investment.
