Some initial thoughts (need to do more research)

Customer LifeScan is "buying out" it's remaining service fee obligations. Expected to yield ~US$32m. On balance, the company will have around 30c per share in cash by the end of January 2019 with all debt repaid. (Net cash ~AUD$52m). Prior to the buyout, they will be operationally breakeven.

BUT, LifeScan is the main source of revenue for the company, and without the onging service fee the business will be in a sizeable loss making position. EG. They made AUD$13.5m in revenue in latest half, and $12m of this was from LifeScan. Fixed costs seem to be around $10m. 

I'm not exactly clear on whether there will be any ongoing commercial relationship with LifeScan, but as far as I can tell there wont be.

Management also cutting costs and shelving some projects. I don't believe management have indicated what they plan to do with funds.

The company's remaining revenue line is the sale of test strips for a diabletic test in partnership with Siemens. This seems to be growing well with a large addressable market. Most patents will end in the mid to late 2020s. The underlying tech/IP is applicable to other areas, which is being investigated.

An interesting sitiuation with shares trading well below the net cash value of the company. But a lot of uncertainty as to how funds will be used.