half yearly out after market

AUDITOR'S CONCLUDING COMMENTS:

"...we draw attention to the following matter. As a result of the matter described in Note 1(a)to the financial statements, there is SIGNIFICANT UNCERTAINTY WHETHER THE ENTITY WILL BE ABLE TO CONTINUE AS A GOING CONCERN and therefore whether it will realise its assets and extinguish its liabilities in the normal course of business and at the amounts stated in the financial report".

Not 1(a) referred to basically states that losses for the half were $955k and that cash flow was negative to the extent of $1.34m.

If MIK had not raised $2.6m from share placements they would be in a very unstable financial position.

Obviously MIK management are very confident that the future is positive and the company have turned the corner....but the market will want to see more contracts like yesterdays to justify the price rise from 8c. Alternatively, the market will be looking for some transparency in $$ numbers attached to contracts such as yesteradys.

I've sold half my holding & taken some profits yesterday at 48c as it had clearly run up in anticpation of yesterday's announcement, however, the way management are talking one would obviously be expecting more contracts & more good news in the future.