That is one scary balance sheet and reinforces that recent...

That is one scary balance sheet and reinforces that recent capital raisings have just been providing the company a hand to mouth existence and reinforces the importance of this Nasdaq IPO. (if only to provide some working capital)
They managed to get the IPO document away prior to these figures so financial info used in that document was previously audited financials (30/6/22 & 30/6/21) and unaudited figures to 31/12/22 which at least show a positive equity position for use in the capitalisation calculations!
(To be fair the IPO document is very clear that there will be more funds required and ability to raise them is not guaranteed)
With all the talk of how strict the rules are in regard Nasdaq listing it begs the question whether these updated figures need to be published in a supplementary booklet.
The fact that figures are unaudited may mean this does not have to be done, however I have no idea and is just conjecture, hmmm............
I am sure an Auditors comments on these figures would not be pretty, so let's hope they can get the IPO away and at least clean up the balance sheet.....