Ann: Full Year Statutory Accounts and Appendix 4E, page-2

Cash for at least a year - but either a deal with HIV or a CR will have to occur in a years time - BIT should get over $1mil in R&D rebates in the interim.

Be nice to see some HIV trial data - hope it is good, but the delay is of some concern that maybe it is not definitive.

(e) Going concern

The financial statements have been prepared on a going concern basis which contemplates the realisation of assets and settlement of liabilities in the ordinary course of business. The Company has incurred a trading loss of $3,492,766 for the year ended 30 June 2023 and has accumulated losses of $55,263,766 at 30 June 2023. The Company has cash on hand of $3,984,387 at 30 June 2023 and used $3,290,035 of cash in operations for the year ended 30 June 2023 and received $1,430,725 in research and development government incentives. During the year ended 30 June 2023, the Company raised $6,000,731 before costs for the issue of shares and options. As at 30 June 2023, the Company had net assets of $3,172,656.

Theseconditions give rise to a material uncertainty that may cast significant doubtupon the Company’s ability to continue as a going concern. The ongoing operationof the Company is dependent on: x the Company raising additional funding fromshareholders or other parties; and/or x the Company reducing expenditure inline with available funding.

The directors have prepared cash flow projections that support the ability of the Company to continue as a going concern for the period 1 July 2023 to 31 August 2024. These cash flow projections include significant ongoing expenditure on research and development activities and assume the Company receives the research and development (‘R&D’) rebate from the Australian Government and maintains expenditure in line with available funding. In the event that the Company does not obtain additional funding and/or reduce expenditure in line with available funding, the achievement of which is significantly uncertain until secured or realised, it may not be able to continue its operations as a going concern and therefore may not be able to realise its assets and extinguish its liabilities in the ordinary course of operations and at the amounts stated in the financial statements.