half yearly report-trader10, page-21

re: half year report - better than expected re the auditors comments, I don't ordinarily post, but as an auditor I have to say that the going concern is actually a near mandatory requirement any time there is a deficiency of assets, a deficiency of current assets vs current liabilties, or cash burn problems vs cash reserves.

To have this raised only as an emphasis of matter, rather than an adverse or qualified opinion, is the most positive way that this can be disclosed. Also look at what caused the deficiency - the capital raising (placing) was showing as a liability at 31 December and this converted to equity on 3 January so in theory, by 3 january, we didn't even have a deficiency of current assets to liabilities.

If this wasn't included in the notes to the accounts, the auditors wouldn't have been ethically or almost legally able to sign the audit report. Just have a good look at it, go and read AUS702 (the audit report on GPFR's) and AUS708 (going concern) - they're the rules we have to follow as auditors.

As always make your own mind up, do your own research, and don't hold me liable for anything I say because I'm not offering advice nor am I providing advice, just my own opinion of how I'd treat the matter, which may be wrong. Disclaim disclaim disclaim.