The offence of failing to hold an AGM on time is an offence of...

The offence of failing to hold an AGM on time is an offence of strict liability (as per the criminal code).
It carries a penalty of $1,000 fine and/or 3 months in prison.

I doubt that many people have been imprisoned for this offence and $1,000 is not a big deal in the scheme of penalties.

However, it is another visibly permanent stain on the management of the company and adds to the recent list of shameful indictments on the company and its management, such as -

Being suspended from ASX;
Auditor refusing to give an opinion on their annual financial accounts;
Persistant queries from ASX regarding financial status and disclosure;
By all appearances being insolvent.

The company has been searching for finance for over 6 months.
Very few investors or financiers will go near a company that displays such disregard for its legal and regulatory obligations and commitments.

They are literally going for broke.