Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-27

They can't delist. If they delist, they won't have any option left to raise new money. They have just a few million left, but I'm guessing there's also a big stack of unpaid lawyers bills.

So the most logical course of events (assuming Locke doesn't give capital) is they will be forced to come out of suspension, take the hit to the shareprice and issue new shares via Continuity.