Its not a solvency issue, with the $1.85mln raised plus what...

Its not a solvency issue, with the $1.85mln raised plus what they had in the bank and the cutting of costs it is not the issue preventing them from being reinstated.
The issue is that they have announced to the market that they are doing a “strategic review” which may involve “m&a” and have engaged an advisor, but provided no detail , even if they lodge the accounts and seek reinstatement to the offical list , the ASX wont allow it.
They need clarify what they mean by “strategic review” and announce something very concrete and specific relating to this like a deal or whatever before the ASX will reinstate them.
Hopefully they are close to finalising something.