report, page-4

It's rubbish because its old news. The more recent announcement that specifically articulates the extent of losses ($35m in 6 months) was more relevant.

But what's more important now is how they are going to finance this loss, especially while they are refinancing generally. Small company, big loss, low share price, no bankable track record...rights issue would be terminal.... so IMO further dilution is the only solution, provided they can find a white knight.

And finally even if you believe the worst is behind them (I don't... in these situations, there are always more problems that will come out later) consider EPS if mkt cap is 60m now, and they raised another 30m.