Ann: Completion of strategic review and business update, page-11

So its saying

1) it continues to make a loss - trailing commission unable to cover staff costs, which I expected. The longer they do nothing the worse this is.

2) if 1 continues, they will have liquidity issue which is also expected 

3) no one will lend any money, nor is capital raising possible in light of its business model

4) asic of 3 to 4m probably was a possibly now confirmed

5) Two viable options 1) St Andrews 2) Sell the trailing asset. Why arent either options mentioned? In any case the St Andrews acquisition looks quite slim now, or will be with quite a dilution. Nd it looks like the board hasnt considered selling its trailing assets and folding the business - why is that?