(d) Going concern basis
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 Company and Group incurred losses of $7,154,003 and
$7,154,005 respectively and the Group had cash outflows from operating and investing activities of
$1,263,950 and $7,381 respectively, during the year ended 30 June 2014. The ability of the Company and Group to continue as going concerns is dependent on a combination of a number of factors, the most significant of which is the ability of the company to raise additional funds in the following 12 months through issuing additional shares.
They've also got a restriction placed on them where a Full Prospectus must be issued for any CR. That restriction has an expiry of 1st May 2015 - see ann of 15 Aug '14. Three months ago they had $1.06M and soon we will see how much of that is left from the next quarterly (to 30 Sept)
PDY Price at posting:
0.9¢ Sentiment: Sell Disclosure: Held
