The auditors don't need to threaten anything. If they don't agree with what is in the accounts, they will detail the issue in their report as a qualification - and sign it off.
As it is, the directors detailed all the problems which could lead to the company's ability to continue as a going concern - including the debt problems - and the auditors were happy with that disclosure. The debt deal is still very much needed. The directors made that very clear. I think that is why the AGM has been booked for the latest possible date, in the hope that they will have a resolution to the problem before then.
LYC Price at posting:
5.5¢ Sentiment: Sell Disclosure: Not Held
