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WRONG WRONG, WRONG....I will give you the benefit of the doubt...

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Lebba

919 Posts.

294

10/12/19

20:09

Post #: 41898109
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Originally posted by Senseightynine: ↑

"given the circumstances detailed above, the Directors have concluded that the other than going concern basis is appropriate for the preparation of the financial statements."
page 22.

"there is insufficient certainty that the full 15.8m will be raised, especially given that the entitlement issue is not underwritten and the recent history of unsuccessful capital raising"
page 21

here's meir signing the director declaration on page 43
"the ongoing solvency is dependent on future access to funding and the success of the announced 15.8m offer"

so based on the above, it is not kpmg concluding the going concern, it is the directors.

look at the audit report, under the heading responsibility of the directors for the financial report:
"assessing the group and company's ability to continue as a going concern"

it's Kpmg that have agreed to the company's conclusion. Not the other way around.

clearly you didn't read closely.

also I refer you to page 10 under Meir, 3rd for point
"consultancy agreement , fee from 1 July 2017 to 31 December 2018, the date the agreement was terminated, was US$16,500 per month"

so this clearly says his consulting agreement was terminated.

let's do the math.
16,500 x 6 = 99,000 usd = 145,000 Aussie dollars

his table says he earned $270,371 consultancy services

16,500 x 12 = 198,000 USD = $289,000 Aussie dollars

so you can evidently see, he was paid the whole 12 months of consulting fees.

now I expect an apology from you.

Expand

WRONG WRONG, WRONG....

I will give you the benefit of the doubt that you didn't read the report properly.
You must be a bit slow, but that's ok...

The consultancy contract was terminated (this was 16.5K per month) and replaced with a new consultancy contract (8.25K per month, from the 1st May). - see the screen shot below. I have even highlighted the section so you can comprehend a little easier, as this isn't your strong point.

And the directors have agreed with KPMG's assessment for not going concern, as per my post in the "Annual Report" thread.
However, they have explained in the supplementary report quite clearly why they do think it will be going concern (due to re-negotiation of contracts).
There you go, i have explained myself twice.

Your downramping is quite funny.....

SAS Price at posting: 1.6¢ Sentiment: Buy Disclosure: Held
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WRONG WRONG, WRONG....I will give you the benefit of the doubt...

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