Ann: Investor Presentation, page-49

According to the informations given at their AGM, SMA cash position by the end of december will be 400k. That's all what's left. The ASX already requested information on their future financial status.

First of all this leaves no money for any investment, especially when you still have a negative cashflow.

Secondly nobody, who is not out of their minds, will make any investments in projects with a company in that critical financial situation.

That's the reasoning behind my guess.