MM's recent comments about new compounds they are developing tells me they know BIT225 doesn't cut it and they need to start spruiking something else to generate some interest. More trials on new compounds means they need more cash and time to prove they have something. Cash and time is something they don't have.
The auditors will be putting them through the ringer at the moment to prove they are solvent. It the auditor is not satisfied then they must report that they are insolvent to ASIC.
https://www.auasb.gov.au/media/0vnjc4ho/aasb-auasb_goingconcernassessments_0623_final.pdf
The Directors are on the hook if they are trading while insolvent. They have some difficult decsions to make imminently to protect their arses.
Interesting times indeed!
MM's recent comments about new compounds they are developing...
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