Did not catch the conference call but Note 2 in Report advises...

  1. 679 Posts.
    lightbulb Created with Sketch. 114
    Did not catch the conference call but Note 2 in Report advises

    "The financial statements are prepared on the going concern basis. The Directors note the Group has continued to incur operating losses as it establishes its business model in the various markets from 1 January 2016 to the date of signing the half-year ended 30 June 2016 financial report. Notwithstanding this, the Group believes that there are reasonable grounds that the Group will be able to pay its debts as, and when, they fall due, and that the basis of preparation of the consolidated financial statements on a going concern basis is appropriate, considering that: 
    It has a letter of support from a shareholder for an amount of $7,000,000; 
    The Board are reviewing its capital options with a view to raising funds before the end of the year."

    So it looks like a capital raising is definitely in the pipeline.
 
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.