I note the addition of a new item in the accounting statements:...

I note the addition of a new item in the accounting statements: "Going concern" - which I haven't seen before.

- Is this providing a back-door option for Fred and co to take the company private? - ie. any of these items isn't met, Fred stops tipping cash in, and then they can wind the company up, buy the IP cheap, conduct a management buyout and restructure this as a private business amongst Fred's mates?

1. Significant accounting policies (cont)1 (e) Going Concern (cont)

In the opinion of the directors, the ability of the consolidated entity to continue as a going concern and
pay its debts as and when they fall due and payable is dependent upon:

• The receipt of the 40,000 pre-production chips to specification from Earth Mountain in
September 2023 to enable testing and subsequent demonstration of the product;
• The successful completion of the current testing phase of the technology, enabling the
consolidated entity to successfully demonstrate the technology’s capabilities and negotiate
commercial contracts with interested parties;
• Shareholder approval at an EGM in October 2023 of additional convertible notes to be
issued by the Company to a director-related entity, 4F Investments Pty Ltd, to raise
$500,000 on the same terms and conditions as the May 2023 convertible notes;
• Drawdown the remaining $250,000 of the current unsecured loan facility with 4F
Investments Pty Ltd by November 2023; and
• The receipt of the Earth Mountain proceeds from the August 2022 placement in November
2023;
• The ability of the Company to secure additional capital by November 2023 to fund working
capital requirements and fund the production ramp up, including payment of the
USD$9,600,000 purchase order for Earth Mountain, with payment to be made on a
progressive basis commencing in December 2023; and
• The ability of the Company to defer repayment of the abovementioned original unsecured
finance facility with 4F Investments Pty Ltd or to raise additional funding to repay the
expiring convertible notes in January 2024 should they not be converted to equity.

If the consolidated entity is unable to achieve successful outcomes in relation to the above matters,
material uncertainty would exist that may cast significant doubt as to the ability of the consolidated
entity to continue as a going concern and therefore, it may be required to realise its assets and
extinguish its liabilities other than in the normal course of business and at amounts different from
those stated in the financial report.