If that asx query is not an eye opener for current investors...

If that asx query is not an eye opener for current investors then NOTHING will save them.

That is as serious a situation as you want to be in. Any potential funder at this moment has read that ASX release and knows that they have the company over a barrel. They can get what ever terms they want at this point.

The issue for funders is how do they get their money back. The company cant afford to just take a con note, as the interest repayments would just be coming from loan capitalisation and not revenue.

Hence the ONLY funding available is a capital raising- dilutive to current holders. Existing investors are about to take a massive haircut as the business is recapitalised.....IF, and that is a huge if...they can find an investor willing to take on board lots of worthless paper.

I would expect we will see a few more jump ship today.

Kiril.