Having been a long time follower of VHL, I have become astute at...

Having been a long time follower of VHL, I have become astute at discerning the real meaning sought to be conveyed by management in company announcements. The company's most recent announcement contains the following two quotes. In both cases, the real meaning is given below:

"Virax Holdings Limited (ASX:VHL) today announced that the Virax Board has appointed an International Biosciences Investment Bank to act as financial and strategic advisor to assist the Company in assessing its options including potential partnering arrangements, financing options and the AIM capital raising process."

Equity for Growth, who management previously appointed to seek funding for the AIM listing, have been unable to find anyone silly enough to fund us. Consequently, we have had no choice but to engage another advisor in a desperate attempt to gain funding. We ask shareholders to overlook the small matter that this will involve considerable delay and additional expense - both of which we can ill afford.

"Virax has in addition initiated preliminary discussions with international bio-pharmaceutical companies who have expressed interest in the Company’s pipeline of immunotherapeutics including the HIV/AIDS therapeutic vaccine, VIR201."

We have been in preliminary discussions with major biotechs for the last 10 years, and due to our incompetence, have never progressed beyond the preliminary discussions stage. Don't hold your breath.