I just saw this report in the Australian:Auditor Mike Reid, of EY, also flagged worries the company might not be a going concern after its directors flagged that by the end of this month it breach the terms of a $50m convertible loan it got from vulture fund Oaktree Capital in November.
Blue Sky said it was in negotiations with Oaktree but if it breached the covenants the entire loan would fall due and it might not be able to repay it.
https://www.theaustralian.com.au/business/clouds-over-embattled-blue-sky/news-story/c5f714e589491ecf403c2db884007192
