Heavily qualified - basically means that the auditors will have...

Heavily qualified - basically means that the auditors will have serious doubts the company will be in a position to meet its debt obligations if and when they fall due - unless x y z happen - x might be this $10m from iWorld whoever they are, y might be more 3B facilities with Gurney Capital and c might be KR pulling a big fat bunny out the hat...made of gold. Auditors qualify reports to reduce the risk of being sued for misleading information generally.