Man the Lifeboats!30 Apr 2021 10:51
This is the section that grabbed my attention, talk about instilling confidence;
"The Directors believe that sufficient funds will be available to meet the Group's working capital requirements as at the date of this report, due to the following factors:
- Expecation to raise funds through the disposal of assets held for sale at period end;
- The ability to raise additional capital through equity or debt financing;
- Favourable outcome in relation to the settlement of Witholding tax liabilities as disclosed in note 2.
In the event that the Company is not able to realise the above factors or secure additional funds and secure new projects, it casts significant doubt on its going concern status.
The above factors result in a material uncertainty that may cast a signficiant doubt about the Group's ability to continue as a going concern, and therefore it may be unable to realise its assets and discharge its liabilities in the normal course of business.
The Directors have prepared the financial statements on a going concern basis, which contemplates continuity of normal business activities and the realisation of assets and discharge of liabilities in the normal course of business.
Should the Company not be able to continue as a going concern, it may be required to realise its assets and discharge its liabilities other than in the ordinary course of business and at amounts that differ from those stated in the financial statements. The financial report does not include any adjustments relating to the amounts or classification of recorded assets or liabilities that might be necessary if the Group does not continue as a going concern."
Sign In
Follow the stocks
