Copied From SEC Philippines publicly available documents :"Notes...

Copied From SEC Philippines publicly available documents :

"Notes to Financial Statements: as at and for the years ending June 30, 2021 and 2020" SITE Group Holdings Pty Ltd - Philippine Branch- Doing business under the name and style of SITE Skills Training Clark.

Page 1.1. Corporate Information
Paragraph 1. The Philippines branch (the Branch) f SITE Group Holdings Pty Ltd (the Head Office) a Branch incorporated in Australia, which is doing business under the name and style of SITE Skills Training Clark was registered with the Philippines Securities and Exchange Commission (SEC) on October 30, 2009. The Branch is primarily engaged in providing international technical skills training through its learning facility at Clark Freeport Zone. CFZ

Paragraph 6.2. Status of Operations
The financial statements have been prepared on the basis the Branch will continue as a going concern. The Branch incurred operating losses amounting to Peso 212.1 million and P22.6 million in 2021 and 2020, respectively, which resulted in accumulated losses of P900.6 million in 2021 and P688.4 million as at June 30th, 2021 and 2020, respectively. (P-Philippine peso)

Paragraph 7.The Branch has cash reserves of P1.5 million and receivables of P13.4 million as of June 30, 2021 and cash reserves of P23.6 million and receivables of P34.9 million as at June 30, 2020

Impact of Corona Virus Disease (COVID 19) outbreak
Necessary measures to contain the COVID 19 have caused disruption to businesses and economic activities.

((read Full data of 59 pages for complete financial contexts))

Aside :- 2 of the Clark based divisions appear to have stopped operating (SITE OnLine / TESOL Asia)