I see the auditors have simplified the books for those who fail to understand them
Material uncertainty related to going concern
We draw attention to Note 1(d) in the financial report, which indicates that the Group recorded a net loss
after tax of $17,656,000 and operating cash outflows of $11,543,000 during the half year ended 31
December 2020 and, as of that date, the Group is in a net liability position of $3,257,000 and has a net
current asset deficiency of $6,560,000. Note 1 (d) comments on the Group’s ability to continue as a
going concern being dependent on a number of factors including raising sufficient funds by December
2021, the continuing support of its creditors and financiers, and achieving forecast operational
performance and positive operational cash flows. These conditions, along with other matters set forth in
Note 1(d), indicate that a material uncertainty exists that may cast significant doubt on the Group’s
ability to continue as a going concern. Our conclusion is not modified in respect of this matter.
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