Ann: Appendix 4C - September 2016 Quarterly Report-CL8.AX, page-19

Guess the main issue here is the company does not turn a profit as yet.

Furthermore, using the current Q $500k revenue for next Q, next quarter costs are $950k.

Estimated cash outflows for next quarter $A’000
9.1 Research and development 120
9.2 Product manufacturing and operating costs 420
9.3 Advertising and marketing 100
9.4 Leased assets -
9.5 Staff costs 195
9.6 Administration and corporate costs 115
9.7 Other (provide details if material) -
9.8 Total estimated cash outflows 950

They do not have the cash on hand or barely to cover the 450k loss IMO.

This could be the reason for stale SP, further CR required, unless I've mistaken or missed something here?

MC is about right IMO given the above.
Mind you I have close eye on CL8, and may be a buyer at some stage.