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It might be a case for Air Crash Investigations. There is ''material uncertainty'' that Facilitate Digital, the internet ad business part-owned by former Qantas boss Geoff Dixon and his son, can continue as a going concern, according to the company's auditors.
Dixon jnr is the CEO of Facilitate, replacing Ian Lowe, who quit in October last year, while dad Dixon is a non-executive director.
According to Facilitate's annual report, which flew into the ASX inbox on Monday night, Ben Dixon's pay packet for the 2013 financial year was $195,000.
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Putting on his shareholder hat, Dixon did rather worse: the company declared a loss of $828,000.
CBD also noticed that some 56 per cent of its $4 million in operating revenue came from just two customers.
The company reckons it will be able to soar out of trouble because it is set to receive a cash R&D refund of $1.1 million from the ATO later and it has agreed to sell itself to another digital ad outfit, Adslot.
Adslot also made a loss, of some $6.4 million, in 2013. It boasts Computershare founder Chris Morris on the board while its CEO is one Ian Lowe … yes, the same Ian Lowe who parachuted out of Facilitate last year.
However, Dixon jnr is to replace Lowe at the combined business, which will be 28 per cent owned by Facilitate's shareholders.
Sadly, these blue skies ahead were not enough to stop auditor Louise Worsley grousing.
She said ''uncertainties include the company achieving revenue forecasts, the completion of the Adslot transaction and the availability of alternative sources of funding''.
''These conditions along with other matters … indicate the existence of a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern,'' she said.