Ann: HY24 Directors' Report and Financial Statements, page-3

serious problems.

have a look at current liabilities in the financial statement.

on top of the $4.6M, the company owes another circa $7M in "Trade and Other Payables" refer to Note 11, Page 28.

so to rescue this company, new (potential) investors need to pour in circa $10M (Net Current Liab less Current Assets), to bring it back to square.

seriously, who is going to fork out $10M???

who is going to lend money to a company with $12M debts, no revenue, and only has about $2.3M in cash and trades receivables (assuming the $1.8M in receivables can be turned into cash).

this company is in a deep hole.