Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-7

Pretty colours from the new reporting format, however my take on the report is a LOT of debt, with no cashflow.

Seems like they have gone "all in" on this last desperate roll of the dice to get something commercial going - I hope it pays off for shareholders, however IMO the risk profile has gone from "high" to "very high".

Share Consolidation completed, with still more shares to join the registry, they have already used all debt facilities available (even drawn down on rebates yet to be received), with the only source of immediate income another government rebate....with only $500k left in the bank. Admin costs up, and project costs up (but understandably needs to be in order to roll the dice).

The only positive is - at pre-consolidation prices - the SP is slightly above value.

I see this as their last, last chance - unless they convince shareholders to do yet another consolidation in a few months time.

Best of luck to all - place your bets on the ASX casino !! lol.