If anyone doesn't understand that these sort of issues IMO...

If anyone doesn't understand that these sort of issues IMO thoughts are basically about getting as much control before possible administration and ensuring there is nothing in the kitty for a administrator to use for full and detailed investigations. It also IMO leads to any sale at any price done at deaths door or immediately a administrator is appointed. Just my thoughts.
In regards to "pending deals " there is a loophole that IMO some company use where they can stave of appointment of an administrator even though they meet the requirements to do so if they have an independent party advise them there is a possibility of a deal pending and it is better than administration. Unless a holder challenges that to force company hand ( and force administration) then they will sit on hands hoping for a better outcome instead of administration. At some point that can't continue. As usual I know nothing . I still have doubts over any suggestions regarding why stuff hasn't been lodged at ASX or why ASX is not accepting it if in fact it has been prepared .

You have to think about what NUH said they were doing and if with recent funds raised if they applied them to for instance getting new device design finalizes, approved and had an agreement pending that for funding to manufacture or outright sale of once FDA approved and thus staving off admin on that basis?

Other reasons I have seen in history are pending legal actions of some form and awaiting settlement etc or conditional sale awaiting a trigger .

There are not a lot of options that the company can spin that an advisor would risk being involved in regarding solvency IMO.