Ann: Quarterly Activities and Cashflow Reports - June, page-4

And the next quarter they are going to spend $1.6m and you are back to square one.

Default was my favourite word in the whole thing.
Never seen a company talk about possible default in a quarterly before. That’s a first for my eyes.

“The maturity date for the loans is the earlier of completion of a capital raising by the Company of at least A$3 million, six months after drawdown or at the lender’s request in the event of default.”