Audit sign off11 Feb 2025 09:32
Fudsters starting scare tactics on yearly audit sign off.
Auditors will be given sight of offers on the table for DX, also DX was predicted to be cash generative last quarter so all outgoings wages rent etc…being met by DX revenues.
Audit sign off will be a formality and Avacta won’t require fund raise this year.
Page 62 2003 accounts
Judgements:
During the year, the Committee considered the following key judgements made in preparation of the financial statements:
Going concern - The judgement of whether or not the accounts should be prepared on a going concern basis, as detailed in the Financial Review. The Committee has reviewed detailed cash flow forecasts that extend to at least twelve months from the date of approval of the financial statements. The forecasts take into account the Directors' views of current and future economic conditions that are expected to prevail over the period. These forecasts include assumptions regarding the status of therapeutic development collaborations, the AVA6000 clinical trials, product development projects together with the Launch and Coris sales pipelines, future revenues and costs, together with various scenarios which reflect growth plans, opportunities, risks and mitigating actions. The forecasts also include assumptions regarding the timing and quantum of investment in the therapeutic development programmes
investment in the therapeutic development programmes
Whilst there are inherent uncertainties regarding the cash flows associated with the development of both the therapeutic platforms, the Directors are satisfied that the is sufficient discretion and control as to the timing and quantum of cash outflows to ensure that the Company a Group are able to meet their liabilities as they fall due for least twelve months from the date of approval of the final statements and therefore have prepared the financial statements on a going concern basis.
Revenue recognition - Judgements arise from the applicat of IFRS 15 to the Group's revenue streams, as disclosed i Note 1C, as to the timing and nature of revenue recognis in relation to the achievement of milestones