northern23 Nov 2009 16:50
whats your thought on this statement???
Engel East Europe, which develops flats, offices and other properties in the region, is leading the real estate lower after saying its cash position deteriorated over the third quarter due to delays in sales and projects in the Czech Republic, Poland, Serbia and Bulgaria.
‘Although the Directors are hopeful that these financial difficulties will be resolved by the end of the first quarter of 2010, they consider that [the delays] indicate the existence of a material uncertainty which may cast significant doubt on the company's ability to continue as a going concern,’ it said.