Ann: Quarterly Activities Report - 31 March 2022, page-20

It is also worth considering that at 3.6c (the raise price) the market cap is circa $5m with $2m+ in cash so EV = $3m therefore is trading at shell value essentially.

So the downside is minimal and upside could be 5-10x if they hit the US market. A good asymetric investment.

I wouldnt be surprised to see a decent performance off the back of being cashed up, the market often discounts those that are running low on cash. I had one this week that was in the same boat and finished the week 40% higher than the raise price.