The problem with your argument is they have already released the...

The problem with your argument is they have already released the 4C's for balance dates 31st Dec 2023 and 31st Mar 3024. The 4D in question which hasn't been lodged refers to balance date 31st Dec 2023. The 4D is the accural version of the 4C's.
How are they trading insolvent in H1 23/24 when they did a cap raise in Nov 2023 as well as recieving a R&D tax rebate in Dec 2023 yet cut of for the 4D is the 31st Dec?
The reason is more a reflection of incompetent and immoral management where they are using the 4D to remain in trading halt while they attempt to sort out a deal. Once they lodge the 4D the ASX will force them to trade. A strategic review and /or negotiations is not an adequate reason to have an extended trading halt.
Again it goes back to Captain Chaos Miller and his incompetence. A good professional ceo would never have allowed such a situation. Unfortunately nuh has a quack for a ceo and that is prepard to engage in immoral and unethical behaviour.
But they don't have much time, their current burn rate is around $500k per month so the $1.85mln raised in April is fast running out.