Ann: Quarterly Activities and Cash Flow Reports - 31 Dec 2023, page-19

All true on the funding. Just noting they said the same last quarterly but spent more than $2M anyway. Sure maybe some was carry-over?

Point being who knows and in the absence of knowledge I bet against poor management. I think the share price reflects a similar bet.

Either way, I don't see those oppies being converted. Rather, they will cap raise at a discount causing even more dilution (more shares at a lower price) is my bet. That even makes sense for the directors since they have almost no shares currently and so won't be diluted and can pick up shares cheaper? Doubt they planned that, but happy outcome for them for a job terribly done. Happy to be wrong here also.