I partially understand what he's attempting to assert; that the impairment will be 100% reversed now that $11.7m from FY23 has been received from the ATO.
However, there has been no correspondence from the company in relation to this matter, so to assert with 100% certainty that this impairment will be reversed is absurd. Not once was the FY24 impairment referenced in either announcement relating to the FY23 rebate:
Holders have no idea what this impairment relates to... it's plausible that it relates to the discrepancy in financial years between the US and AUS, and as such, the FY24 has been adjusted accordingly. Best to assume this won't be reversed unless told otherwise. All we know is that IMU are currently 12 months behind all other ASX bios in receiving this R&D rebate (other COY's received their FY24 rebate in December/January, IMU received their FY23 rebate). This would mean they don't receive their FY24 rebate, whatever it is, until next January - and they'll have run out of cash before then if the current burn is maintained.
But don't get me started on his assertions that "around $40M in total R&D rebate outstanding from this and last financial year" and "so the available fund is around $131M if the $26M warrant is exercise". There is no communication from IMU stating anything like this. It's blatant misinformation in an attempt to remedy his losses.
IMU Price at posting:
3.4¢ Sentiment: Sell Disclosure: Not Held
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