In their recent financial statement they have posted a going concern as below. Did anyone have more information on it? It looks like a bit dissapointing and a big concern with the liability (not known the terms) and the sales
The Group made a loss in the period in the amount of £1,387,574 (30 June 2019: £148,689) and as at 30 June 2020 was in a net liabilityposition of £1,521,074 (30 June 2019: net asset position of £342,454).
During the period under review the Company concluded an AU$7m fund raise from third party investors ahead of its planned IPO on theAustralian Stock Exchange (ASX) with an anticipated fundraise of £4m (A$8m) later on in the year. The Directors have a reasonableexpectation that both further sales of the product and/or consulting fees alongside further investment in the Company, via the IPO, willbe achieved but there is no guarantee as to the level of sales or investment that will occur. The Directors have concluded that thecombination of these circumstances, whilst uncertain, does not cast significant doubt upon the Group's ability to continue as a goingconcern.
SRJ Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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