There would have to be conditions tied to the $3m loan which...

There would have to be conditions tied to the $3m loan which haven't been met, such as still being listed, or minimum share price of $XX, or management discretion prior to drawdown (the last one would be unusual for a line of credit). That is the only thing that makes sense here. After this latest announcement, I can't see the ASX letting them back on without a new team, proper funding, and a clear explanation about what's left and the path forward. Oh yes, and resolving the audit problems.