news anyone, page-17

Well you've read all the covering letters from Andrew who is effusive in his praise of this company's future fortunes. However, did you read this little gem on the back page of the auditor's report?

Without qualification to the conclusion expressed above, attention is drawn to the following matter. The matters described in Note 1(d) in the half year financial report indicate that further working capital may be required within the next 12 months if revenues from the consolidated entity’s energy retail activities are insufficient to meet the company’s working capital requirements. Accordingly, there exists material uncertainty which may cast significant doubt about the consolidated entity’s ability to continue as a going concern and whether it will realise its assets and extinguish its liabilities in the normal course of business and at the amounts stated in the half year financial report.

William Buck
Chartered Accountants
L.E. Tutt
Partner
Sydney, 27 February 2009

Front page vs back page??? no wonder shsreholders get angry! Wouldn't be surprised to see them slip the announcement out after the markets closed.