I note the following from the Activities Report. Hopefully we will see this occur within the indicated time frame. From other info provided I expect this could take an additional couple of weeks. When it does, the chips can be demonstrated and the company claims to be confident it will be able to raise all additional funds it needs.
". . . 8.6.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?
Estimated Quarters Funding Available = 1.91 Q ( i.e. a bit less than 2 quarters minimum )
Answer:
Yes. The Company is still expecting to receive the placement proceeds of A$4,316,550 in respect of the placement to Earth Mountain of 308,325 ordinary shares at $14.00 announced on 24 August 2022.
In order to sustain the anticipated level of R&D activities, additional funding will be required within the next 12 months. The precise timing, method and quantum of the additional funding to be secured remains subject to ongoing review and discussions between the Board as well as its advisers and potential funders.
The timing of securing additional funds will also be subject to market conditions prevailing at the time and
is expected to be coordinated with the demonstration of the MEMS GEN-II wafers and chips during the March 2024 quarter. . . . "
(20min delay)