Immuron's Intepretation of News Events, page-8

And I get where you are coming from as well except to say that if they intended to do it and simply forgot then it is definitely sloppy as you say,
whereas:

* if they have made a deliberate decision to allocate the company's limited budget to high priority pathways for the purpose of avoiding a need to undertake another interim small capital raise prior to the hoped for partnership agreement with a major player then it has significant merit from a shareholders perspective as we will arrive at that point without further dilution;

or

* if they have made a deliberate decision to allocate all of the company's limited budget to pushing the company to profit via Travelan sales then again this has significant merit from a shareholders perspective as  in Australia any ASX company which produces a profit will potentially also become attractive to so called value investors and this should be favourably reflected in the share price.

but it is reassuring to have perfect performance for all the reasons you articulate.