Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-2

-ASX:BPH, 02/05/2022, Quarterly Activities/Appendix 4C Cash Flow Report

And just like that, more than half the money is "gone". If they keep spending the money like this, at this time next year, almost all the money will be gone.


-ASX:BPH, 02/05/2022, Quarterly Activities/Appendix 4C Cash Flow Report

This is obviously incorrect. If you want to throw millions of dollars away on whimsical projects, the least you could do is to get the disclosures proof read.


-ASX:BPH, 02/05/2022, Quarterly Activities/Appendix 4C Cash Flow Report

In other words, they have no idea which option will be used by Advent to get the money to pay back the BPH loan. Nice. Once again trying to float the idea of "future listing" lol... who would buy the IPO of what now appears to be a very undesirable company?


-ASX:BPH, 02/05/2022, Quarterly Activities/Appendix 4C Cash Flow Report

But it also means that BPH itself just made a $3million dollar bet against PEP-11. Because... as we have discussed here numerous times, BPH/Advent, barely/didn't have the funds to do the PEP-11 drill in the first place, and this $3million outflow of money reduces the possibility PEP-11 would be drilled even if the second NOPTA application was approved.


-ASX:BPH, 02/05/2022, Quarterly Activities/Appendix 4C Cash Flow Report

In other words, the SAT could not hand down a judgement on the case because it potentially involved "behaviour" outside of their jurisdiction. My prediction is that the applicants were arguing there was " 'x' activity" that hindered their ability to comply with the EP386 work program. The SAT are essentially referring it to the Supreme Court to see if there was " 'x' activity" and hence, this would "prove" that they could not comply because of 'x'. (if I actually say what it is, it gets moderated).


-ASX:BPH, 02/05/2022, Quarterly Activities/Appendix 4C Cash Flow Report

According to the average device in FDA approvals, Cortical's BARM device might be approved in the next two quarters, (April to September 2022) but unfortunately for BPH holders, I think the director would prefer if the company was still suspended even if this means it misses the Cortical approval (if it resumes trading just for Cortical, I predict the share price would still go lower).

There were a few other very interesting details that, to the trained eye were obvious, but not many might have caught, I'm sure we will speak of those eventually, but not today.