Auditor report s says it was prepared to NZ accounting standards or IFRS... of which the ASX in their listing rule says they will accept. So for now lets not blame the paid help... look to the reports themselves.
The "nay sayer" predicts it may be the ASX further clarifying the auditors inability to confirm the business as a going concern... all ties into the same standards essentially.
Cost cutting has been causing a continual decline in expenditure over the last two years... R&D has continued at a good clip too - (which is positive and required working forward) - but is also the predominant cause for the cash burn. Revenue hasn't really increased YOY - was hoping that the MoU from Asia would have started to convert financially by now too.
My long term "not hold" continues until I can see the time when break even and cash flow positive will occur. VISA + 1 more bank deal and we might just get there...
9SP Price at posting:
2.9¢ Sentiment: None Disclosure: Not Held
