so at 30th Dec they had $3.7m in current assets (only $2.1m in cash) with trade an payables liabilities of $9m - $775k isn't going to help is it. this isn't kicking the can down the road, maybe just rolling it on it's side.
already selling at 0.002c by the looks - get out while you can IMHO - tax losses are always useful!
Good luck guys!!