With the stock price now at the lowest price it has been in 3...

With the stock price now at the lowest price it has been in 3 years and no bank funding in place, it looks like a capital raise is inevitable.

They will need to raise >$50M to have any reasonable runway and with a stock price at 87c and declining, they will probably need to raise at 50-60c (or even less) to have a chance of filling this allocation.

I think, voluntary administration is inevitable.

The question will be whether this will bring down the whole sector and will this create legal proceedings because of the September announcement made about having bank funding term sheet signed. (Which has never been shown.)