RE: 2 RNS11 Apr 2017 16:59
at the Auditor is clear about their opinion of Fitbug
"Emphasis of matter – going concern
In forming our opinion on the financial statements we have considered the adequacy of the disclosures made in note 2 to the financial statements concerning the Parent Company’s and the Group’s ability to continue as a going concern. The Group incurred a net loss of £3,536,000 during the year ended 31 December 2016 and, at that date, the Group’s total liabilities exceeded its total assets by £2,038,000.
The directors have prepared forecasts which suggest that there are sufficient facilities available to meet the Group’s short-term funding requirements. The forecasts assume a significant growth in revenues for the current financial year and the requirement for additional fundraising. We are unable to assess whether the growth will occur or the funds will be raised and these matters, as more fully explained in note 2 to the financial statements, indicate the existence of a material uncertainty which may cast significant doubt about the Parent Company’s and the Group’s ability to continue as a going concern. The financial statements do not include any adjustments that would result if the parent company and the group were unable to continue as going concerns."