Crikey - they have even used up the $500k debt facility - net...

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.