Ann: FBR Appendix 4D and Half Year Financial Statements, page-13

A lot of accounting speak in note 3, but yah, R&D cash rebate is essential for the continuing of businesses. Note that as long as RnD tax rebates gets back, we should be fine for the next 12 months. Really hope overseas build gets done soon. But with news of the US variant, very hard to see it happening this year.

3Going Concern The Consolidated Financial Report has been prepared on a going concern basis, which contemplates the continuity of normal business activity and the realisation of assets and the settlement of liabilities in the normal course of business. The Group incurred a net loss of $4,075,241 during the six months ended 31 December 2020, and as of that date, the Group’s net cash outflows from operating and investing activities totalled $6,185,632. The ability for the Group to continue as a going concern and to fund its ongoing Hadrian X programme is dependent upon the Group successfully raising additional capital and continuing to be eligible for receipt of government R&D tax incentives.Whilst the Directors are confident of the Group’s ability to continue as a going concern, due to the factors mentioned above, there is material uncertainty that may cast doubt on the Group’s ability to continue as a going concern. If the Group is unable to continue as a going concern, it may be required to realise its assets and or settle its liabilities other than in the ordinary course of business and at amounts different from those stated in the financial report. The Group held cash and cash equivalents at balance date of $11,177,777 and was working capital positive. The Group has receivables of $9,681,352 at balance date. The Group has prepared a cash flow forecast for the next 12 months which demonstrates that with continued access to the R&D tax incentive program and the existing cash reserves and receivables, there is the necessary working capital for the Group to continue its ongoing Hadrian X programme and to provide the necessary working capital to cover its corporate costs over the next year without the requirement for additional equity raising.