Somewhat of a disgrace that the company cannot produce audited...

Somewhat of a disgrace that the company cannot produce audited accounts in time.
Unless the Boardroom battles are resolved soon, the creditors will gain the assets for a song.
How come there has not been any earlier announcement of the Convertible Securities Agreement with L1 CapitalGlobal Opportunities Master Fund (see below)? Talk about a mess.
Should we complain to ASIC and the ASX?
I guess that the auditors cannot say that the company is in a state to continue until after the Convertible Securities Agreement is ratified by the shareholders.

"On 31August 2020, The Company entered into a Convertible Securities Agreement with L1 CapitalGlobal Opportunities Master Fund for $250,000 which will be used for general corporate purposes.

Under the terms and conditions of the Convertible Securities Agreement, the Company is required to secure shareholder approval for the agreement.

The key terms of the Convertible Securities Agreement involve the issue of 250,000 convertible securities at a face value of $1.25 per convertible security with maturity six months after the date of issue of the Convertible Securities.
The Convertible Securities are convertible into fully paid Depositary Interest at a price of 0.4 pence per Depositary Interestor the Australian dollar equivalent should the Investor wish to be issued ordinary shares.

The Convertible Securities Agreement incurs a commitment of 3% of the proceeds from issue of the Convertible Securities as well as two series of options.Series A Options represent 25,000,000 options over ordinary shareswith an exercise price equal to the Conversion Price converted into AUD using the Exchange Rate on the day immediately prior to the Execution Date and rounded down to the nearest ($0.001) withan expiry date of 3 years from the date of issue.Series B Options represent 25,000,000 Options with an exercise price equal to the closing VWAP on the London Stock Exchange on the Actual Trading Day immediately prior to the date Shareholder Approval is obtained converted into AUD using the Exchange Rate on the same day and rounded down to the nearest ($0.001) and an expiry date of 3 years from the date of issue."