"In the opinion of the directors, the ability of the...

"In the opinion of the directors, the ability of the consolidated entity to continue as a going concern and pay its debts as and when they fall due and payable is dependent upon:

• The successful negotiation of the extension of the maturity date of the existing convertible notes by a further 5 months beyond 30 April 2024, with an option to extend by an additional 6 months;
• The ability of the Company to secure additional funding of between $3,000,000 and $6,000,000 from existing or new shareholders to fund the working capital requirements ........dependent on the deferral of the maturity of the convertible notes beyond 30 April 2024."

At a conversion price of $9.04 it's a logical assumption to make at this point that the "sophicated investors" at this stage aren't buying.

No options were taken up during the year either.