RE accounts.18 Mar 2018 15:27
Last years accounts were signed off the day before release to the market.
The statement below is from last year.
The going concern is counted and had to be met when the accounts are signed off. It�s quite normal for a company to fund raise to help/cement/facilitate this just like Sav did last year.
The next two weeks will be busy,but the mm behaviour hints at a decent price for the placing approx 6p. The price will rise considerably after the placement imo just like in previous placings.
Going Concern
The Financial Statements have been prepared on a going concern basis. Following the receipt of the Placing and Subscription proceeds, which are contractually committed, the Group will have a pro-forma cash balance of �3.02m and letters of intent from directors and related parties for a further �1.01m cash subscriptions. The Directors have reviewed the cashflow projection for the Group and consider that it has sufficient ability to meet its financial commitments for at least 12 momths.