KOR 0.00% 0.9¢ korab resources limited

Ann: Details of Auditor Appointment/Resignation, page-2

  1. 4,605 Posts.
    lightbulb Created with Sketch. 1807
    Interesting to see HLB Mann Judd resigned as Auditor to KOR.

    I wonder if it's got anything to do with Mann Judd's last audit remark:
    "Half Yearly Report to 31 Dec 2022Auditors Report:
    "Going concern
    The financial report has been prepared on the basis of accounting principles applicable to a going concern, which assumes the commercial realisation of the future potential of the Group’s assets and the discharge of its liabilities in the normal course of business.At balance date, the Group had an excess of current assets over current liabilities of $529,771 (30 June 2021: deficit of $264,788) and net cash outflows from operations for the period of $30,895 (31 December 2020: inflows of $138,845).
    The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or to the amounts and classification of liabilities that might be necessary should the Group not continue as a going concern.
    The Group may need to seek additional funding in the coming year in order to meet its operating expenditure and planned exploration expenditure for the next twelve months from the date of signing these financial statements. The directors are confident of being able to obtain additional funding through increase in debt, raising of additional share capital, or sale of assets. Should this not occur, or not occur on a sufficiently timely basis, there is a material uncertainty that may cast significant doubt about the Group’s ability to continue as a going concern and therefore, the Group may be unable to realise its assets and discharge its liabilities in the normal course of business. The Group has secured the deferral of debt (from directors, and external parties) and the Company’s position is contingent on continued deferral of this debt."
 
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