Ann: Financial Report - 6 Months to 31 Dec 2019, page-2

Should be 'Price Sensitive', cause it will be......

"Going Concern
Notwithstanding the loss for the financial period and the negative cashflows from operations, the financial
statements have been prepared on a going concern basis, which contemplates continuity of normal business
activities and the realisation of assets and the discharge of liabilities in the normal course of business.
The Directors believe that there are reasonable grounds that the Group will be able to continue as a going concern,
on the following basis:
• The Group has the ability to continue to raise additional funds on a timely basis pursuant to the
Corporations Act 2001. The Group has raised in excess of $11 million in the previous year’s reporting
period and the Directors have no reason to believe that it will not be able to continue to source equity or
alternative funding if required;
• If required, the Group has the ability to finance the research and development tax rebate to have access
to the funding earlier which will improve the liquidity of the Group; and
• The Group has the ability to scale back a significant portion of its development activities if required.
As a result of these factors, there is material uncertainty as to whether the Group will continue as a going concern
and, therefore whether it will realise its assets and settle its liabilities and commitments in the normal course of
business at the amounts stated in the financial report.
Notwithstanding the above, the Directors are confident they will be successful in one of or a combination of the
above factors and on this basis the financial report has been prepared on a going concern basis. Accordingly, no
adjustments have been made to the financial report relating to the recoverability and classification of the asset
carrying amounts and of the liabilities that might be necessary should the Group not continue as a going
concern. Accordingly, the Directors have prepared the financial report on a going concern basis."

GLTAH