Ann: Half year accounts, page-3

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Jeanlucecuyer

290 Posts.

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28/03/24

17:55

Post #: 73109989
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Originally posted by creditdumbness: ↑

We're still kicking. Let's hope Deloub can pull something out of his has. Let's hope he'll not just keep us alive but also help us thrive. He's got his hands busy with us here and over at SHE. That shouldn't be an excuse though. Shareholders should always be pushing and demanding more from their CEO. They are not above criticism. If they can't handle the heat, get out of the kitchen. That goes for holders too. They need to stop making excuses and help bring accountability and transparency. Be very careful of non holders coming in here, telling people to sell. If our CEO is good, he'll find a a way. As the below shows, we're still alive.

"GOING CONCERN

The half-year financial statements are prepared on a going concern basis, which contemplates the continuation of normal business activity and the realisation of assets and liabilities in the normal course of business. The cash balance as at 31 December 2023 was $485,697 (30 June 2023: $1,030,446). The Company made a loss of $409,614 (31 December 2022: $458,385) for the period and net cash outflow from operating and investing activities of $544,719 (31 December 2022: $495,400 outflow).

Notwithstanding these results, the Directors have reviewed the business outlook, cash flow forecasts and immediate capital requirements and are of the opinion that the use of the going concern basis of accounting is appropriate as the Directors believe the Group will be able to pay its debts as and when they fall due.

The Directors continue to monitor the ongoing funding requirements of the Company and as stated, have the ability to raise monies via a share placement in the near term as work programs progress.

Avira has a track record of securing capital funding from the initiatives it has taken over the year and in periods.

However, should the Company not be able to raise via share placement or other means there exists a material uncertainty that may cast significant doubt on the Group’s ability to continue as a going concern."

DYOR. My opinion only.

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To see Deloub gets nothing from his asset, except his salary, still digging the well and the grave of AVW !

And, looking at the market, the rats continue to leave the ship!

AVW Price at posting: 0.1¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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