Ann: Full Year Statutory Accounts and Appendix 4E, page-9

  1. 15,649 Posts.
    lightbulb Created with Sketch. 2803
    Crikey - they have even used up the $500k debt facility - net share backing at .003 cents.

    Not in a good possie really

    (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 $3,436,524 for the year ended 30 June 2024 and has accumulated
    losses of $58,680,788 at 30 June 2024. The Company has cash on hand of $393,198 at 30 June 2024 and
    used $3,568,566 of cash in operations for the year ended 30 June 2024 and received $1,645,114 in research
    and development government incentives. During the year ended 30 June 2024, the Company raised $19,836
    from the exercise of options. As at 30 June 2024, the Company had net liabilities of $244,032 and subsequent
    to year end, the Company entered into a finance facility for an amount of $500,000 which was fully drawn post
    year end
    (refer to Note 22). These conditions give rise to a material uncertainty that may cast significant doubt
    upon the Company’s ability to continue as a going concern.
 
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