Ann: Response to ASX Query, page-12

They never made more than a token gesture to try and reduce spending, they only announced a director salary cut as a reply to an ASX query. All hopes seemed hinged on these R&D rebates coming through.

It is difficult to see how they would raise sufficient capital to keep going - to pay any fines from their R&D rebates, to pay Volkov and to pay for a plant that should already be paid for and fully operational by now.

But - after all that has happened, the company is still alive so who knows what the next chapter holds.