re: Ann: Annual Report and Notice of Annual G... The Elephant......

re: Ann: Annual Report and Notice of Annual G... The Elephant... Note the date, 28 September.

Opinions???

Material Uncertainty Regarding Continuation as a Going Concern

Without qualifying our audit opinion expressed above, attention is drawn to the following matter. As a result of matters described in Note 1 – Going Concern to the financial report, there is significant uncertainty whether the consolidated entity will be able to continue as a going concern and therefore whether it will be able to pay its debts as and when they become due and payable and realise its assets and extinguish its liabilities in the normal course of operations and at the amounts stated in the financial report. The financial report does not include any adjustments relating to the recoverability and classification of recorded asset amounts or to the amount and classification of liabilities that might be
necessary should the consolidated entity not continue as a going concern.

Ernst & Young
Perth
28 September 2012