Ann: Annual Report to Shareholders, page-2

For those with more knowledge than me, in clause 11c the following statement:- " The Company did not
recognize deferred tax assets relating to carry forward losses in the consolidated financial statements because their
utilization in the foreseeable future is not probable"

Is the word "foreseeable" the problem or "probable"? Surely the coy will ultimately be profitable and thus the carry forward losses can be utilised? Am I to conclude that management does not see that likelihood for quite some time. Be interested to hear some constructive feedback, please.