It can not be Scenario 2, as the letter to asx would have...

It can not be Scenario 2, as the letter to asx would have mentioned this. My first feeling is that ASX pulled them up on the market update they announced the other day. They may be scrambling to announce a finalised deal. They will need to be careful here, because a trading halt only lasts for 3 days. If longer then it is voluntary suspension.

Maybe they have secured funding, if so then they have taken care of a major hurdle and that this will assist shareholders.

I am sceptical that someone would lend $40M when they are not making money.

Time will tell.

Good luck shareholders.

DYOR