"For the year ended 30 June 2012 the consolidated entity (group) had an operating loss before tax of $5,549,700, negative cash flow from operating activities of $4,289,487, and net current liabilities of $1,097,055. Furthermore, the consolidated entity does not have a source of revenue and is reliant on equity capital or loans from third parties to meet their operating costs. These conditions indicate a material uncertainty that may cast significant doubt about the consolidated entity’s ability to continue as a going concern."
Hi Rubes,
When was this financial report released by ect? If it was recently, do you think it may be to soften the blow of what's to come? I can't remember ever seeing a company release such an alarming statement. Can't see SH voting for a management pay increase any time soon.
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