Technical Insolvency ?, page-15

It isn't worth getting hung up on technicalities. TMT has liabilities in the form of payables, but does not have any outstanding formal interest-bearing debt. Therefore, @beautifulstyle is correct in that the ASIC shall not come after TMT or declare them insolvent.

@Matricks does flag a valid point though that given the current forecasted spend for this quarter, TMT shall be out of cash in the next two months. It would be great to get an update regarding funding from IP.

I do expect the June & September quarters to be less capital intensive than these past two and so the raise required will hopefully not be too significant and we can get the DFS released without too much dilution.