The issue is that they really, really needed that placement. They allowed for the $450k in unpaid cash calls to be paid by 30th April, reinstatement of Lind at $100k/mo AND no less than $500k in a raising by 31st March.
According to the financials, in relation to these three items (lind funding+unpaid cash calls+placement) in their forecast "In the event that the consolidated entity is unsuccessful in the matters set out above, there is a material uncertainty whether the consolidated entity will continue as a going concern"
I suppose maybe they did get the unpaid cash calls and maybe they have a couple more months now up their sleeve for the placement?
The issue is that they really, really needed that placement....
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