Ann: Merger Presentation, page-432

There’s absolutely nothing to suggest TMT ever got close to not being a going concern.

if you think TMT had tough talks to financiers and realised it wasn’t happening in the current conditions without a merger that’s fine, but suggesting they were broke is completely false given the company never had less than ~12 months cash and was able to quickly conduct a cap raise at a minor discount to the share price. Our 200m SOI compared to 1B over the fence proves if there’s one thing TMT can do it’s conserve cash, as does the difference in cash burn rates in the post above.