Red Day19 Jun 2018 08:21
Eye watering loss for year end viz
'Losses attributable to non-controlling interests combined with gains on assets results in a total comprehensive loss for the year attributable to owners of the parent of US$14,783,962 (2016: US$2,490,640).'
CEO moved side ways - hmmm.
Going concern (always worth reading the Health warning)
'The Directors have identified a variety of potential sources of funds including issue of additional equity and/or debt, shareholder loans, tax credits and sale of investments and/or plant. In addition, the Directors have identified additional cost reductions which may be implemented if necessary.
Taking this into account and following a detailed review by the Directors of the Group's cash flow requirements, the directors believe that the Group will have sufficient cash resources to continue to trade for a period of at least 12 months from the date that the financial statements are signed. Consequently, the financial statements have been prepared on a going concern basis.
However, as of the date of signing these financial statements, none of the potential sources of funds have been finalised and therefore there can be no guarantee that further funds will be received. These circumstances indicate the existence of a material uncertainty which may cast significant doubt on the Company's ability to continue as a going concern.'
Cash burning - need funds.