Ann: Collection House Limited - Company Update, page-6

Basically what they're saying is: Our auditors have confirmed that we're trading insolvent at the moment but we can't release these financials because that would violate our banking covenants.

Management will now drag it out for as long as they can to maintain their salaries then finally agree to some draconian financing that basically hands control of the company over to a new owner.

Like i said before, just park this in your bottom drawer. I have already written this nightmare off. Any salvage value would be a bonus.