Haven't gone through it yet... all I know is they did 38 mill in rev last financial year in 2 states and were looking for funds to roll out interstate and overseas and that economy of scale would see overheads drop
The guys doing it have had a very good record of late doing zno which is up nearly 50% and wha which is up a couple of hundred percent
I also heard demand was quite strong for the ipo
Nearly every accountant has disclaimer of going concern in early type businesses