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mike999

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14/09/19

00:40

Post #: 40420041
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Originally posted by TheSpaniard: ↑

IBX's last financial statements said this. It should leave investors in no doubt that this remains highly speculative. Yes the potential rewards could be massive if this disrupts the industry but be in no doubt that there is considerable risk. Don't invest what you can't afford to lose. I'm waiting for the opportunity for a small punt because I really want this company to succeed as someone whose life has been effected by breast cancer, but I'm going to be offsetting as tax losses this year if it goes belly up.

The financial statements have been prepared on the going concern basis, which contemplates continuity of normal
business activities and the realisation of assets and discharge of liabilities in the normal course of business. As
disclosed in the financial statements, the consolidated entity incurred a loss of $986,690 and had net cash outflows
from operating activities of $3,124,458 for the half year ended 30 June 2019. The consolidated entity is dependent on
the need for additional funding to cover ongoing product development and has forecast losses for the next financial
year.
These factors indicate a material uncertainty which may cast significant doubt as to whether the consolidated entity
will continue as a going concern and therefore whether it will realise its assets and extinguish its liabilities in the
normal course of business and at the amounts stated in the financial report.
The Directors believe that there are reasonable grounds to believe that the consolidated entity will be able to continue
as a going concern after considering the following factors:
- The Directors are confident that additional funds can be raised through further capital raisings to support
ongoing research and development activities;
- The Company successfully received an R&D tax incentive refund $2,061,918 post year end.
Accordingly, the Directors believe that the consolidated entity will be able to continue as a going concern and that it
is appropriate to adopt the going concern basis in the preparation of the financial report.

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Pretty standard wording that at least 50% of listed start ups have in their financials. Wouldn't read too much into it. But yes, like all start ups they will need further cash.

IBX Price at posting: 3.8¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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