my initial reading (its a long doc) is that the loss is inflated...

my initial reading (its a long doc) is that the loss is inflated because the company could not record the revenue although it received the cash. the financial position with 16.6 million in cash and assets looks pretty strong to me!

The Company announced unaudited revenues of $13 million in the Q2 Appendix 4C, which was subject to a number of adjustments through the half year review, including $1.8 million in cash received that was reclassified as unearned revenue under AASB15; $1.4 million in cash received which was reclassified to other financial liabilities which will eventually be recorded as part of equity following the equity/liquidity event set out in the SAFE agreements; and $808,000 in cash received that was reclassified as an offset against R&D and marketing. In addition, $701,000 in cash received was subject to other reclassifications, resulting in a net sales revenue of $8.3 million as per the Statement of Comprehensive Income, an increase of 47% over the same period last year

Additionally, the Company recorded in its working capital $5.6 million of liabilities which are expected to be settled in equity, which further strengthens the Company’s cash position.