No they had $442k as at 30 June. Given that they estimate a cash...

No they had $442k as at 30 June. Given that they estimate a cash burn of $400k per month, and it is now September they are clearly operating behind their own estimate. This doesn't necessarily mean they are insolvent though - insolvency means that they are unable to pay all debts/liabilities when they are payable. This would include things like office rent and wages. Continuing to trade whilst Insolvent in a major no-no, and may result In the dIrectors beIng personally liable. Due to this, companies in this circumstances often find creative accounting tricks to juggle debt and push back liabilities so they are not insolvent. I have no doubt this is what warranted the change of registered office for example. Given their cash position, you really would have expected a CR in July/August, so it is concerning that it is now September. You can only juggle liabilities for so long.