It's an interesting situation. As you say, they are now...

It's an interesting situation. As you say, they are now insolvent. Over a month ago they had insufficient funds to cover a week's costs.

If capital was obtained, we'd have heard about it. Over a month ago it was too late.

Someone suggested they were waiting for an Australian MM license to be issued. If it was issued before they became insolvent we'd have heard about it way back then. Now, long after they became insolvent, a license wouldn't be issued. Two months ago you might have made the implausible suggestion that they were going to pull it together at the 11th hour, but it's now a long time after midnight. They either obtained it before April in which case we'd have heard about it, or they can't get it.

I can't even think of an hypothetical rabbit they could pull out of a hat at this stage which would save the company. If they do, it will be the most amazing rabbit I've ever seen a company pull out, in the most unlikely of circumstances. If they had some amazing deal or project to impress the market with, it would have been presented by now. If it wasn't presented over a month ago, it's difficult to imagine any company going through with any major deal with a clearly insolvent company.