“The Directors believe that it is reasonably foreseeable that the Group will continue as a going
concern and that it is appropriate for it to adopt the going concern basis in the preparation of
the financial report after consideration of following factors:
● Directors have prepared a cash flow forecast for the Group for the next 12 months which
demonstrates an ability for the Group to meet its debts as and when they fall due and
payable. Incorporated into the cash flow forecast are:
o increased revenue from existing contracts,
o certain targeted cost reductions across business units.
● Directors anticipate the availability of further funding, as needed, to be available through
equity or debt raisings.
Accordingly, the Directors believe that the Group will be able to continue as a going concern
and that it is appropriate to adopt the going concern basis in the preparation of the financial
report.”
PIL Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
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