Yes the auditors did question the carrying value of intangible assets, not that surprising really. It is of little consequence though as the directors believe the value to be supported and if commercialisation takes place then the directors will be proven correct. Whether it does or not the auditors have correctly stated their concerns as full commercialisation has not yet been achieved. What is more important is that the stance is made clear to readers of the financial report who can then make up their own mind.
Given the present position of the company there are no surprises in the audit report.
AJX Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
