AVE 20.0% 0.3¢ avecho biotechnology limited

From the report: In 2016 the Company entered an arbitration with...

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    From the report:

    In 2016 the Company entered an arbitration with Mylan Laboratories Ltd (India) which concluded with a hearing in early November 2017 with an award expected to be rendered within three to six months from its conclusion. The outcome of arbitration is by nature uncertain and a positive award is not assured. If unsuccessful and costs are awarded against the Company, the Company is likely to need to find additional sources of funding.

    Accordingly, there is material uncertainty that may cast significant doubt on the Company’s ability to continue as a going concern and therefore, as it may not be able to realise its assets and discharge its liabilities in the normal course of business. However, the directors believe it is probable that the Company will be successful in the arbitration and accordingly have prepared the financial report on a going concern basis. As such no adjustments have been made to the financial statements relating to the recoverability and classification of the asset carrying amounts or classification of liabilities that might be necessary should the Company not be able to continue as a going concern.

    A statement of confidence, for what it's worth.
 
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