Morella going bankrupt?

As you all know, Sayona has a JV with Morella. Both companies are run by the same people.

Now let's look at Morella's latest quarterly:




Yeah you saw that right, less than one quarter of funding remains for Morella. And they have to find cash, fast. And it's not as simple as doing a CR because of the low, low SP. Can only come up with so much cash that way.

Here's what Morella had to say (putting aside the sloppy grammar and misspellings):



Really? Support from shareholders? All I'm seeing is a lot of vitriol from retail:

https://hotcopper.com.au/threads/ann-quarterly-activities-appendix-5b-cash-flow-report.7824328/

Now, Morella could significantly extend their runway if James Brown and Allan Buckler were to cut their salaries:




But will they really do that? Will James Brown and Allan Buckler cut their salaries to try and save Morella?

Or are their salaries far more important to them than the retail shareholders?

What will happen? We will see.