As clearly stated if they do not receive the FY 24 rebate by April 2025. You can deduct that $20M right off, and you're back to 2 quarters of cash. And we're largely through one of those quarters already.
Given it's November 2024 and still no word about their FY 23 rebate. I don't see FY 24 in bound during this tax year.
Its basic accounting and ASIC rules. $20M of future money won't save them from insolvency. They need money in some way shape or form by April.
It really is not that hard to play the possible chess moves out at this point.
Regardless of trial outcomes and ASX announcements. Either a commercial deal compromised of an up front cash payment. Or capital raise. With the deadline for either of February 2025.
IMU Price at posting:
3.9¢ Sentiment: None Disclosure: Held
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