Originally posted by hobgob
Hi Basileus, you seem to revel in negativity, whenever I see you have posted I am filled with dread at the prospect of another attack on TV2, I think and feel that we are on the right track, nothing much to back that up except reading others posts over the last six months and back from there also, I have lost a lot on paper with TV2 but I feel that there is a turn around coming and that many of the 'pro' TV2 brigade have it right, anyway, we will see. Unless you have Nostradamus like powers you will have to wait (watch) and see as well.
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Hi Basileus, you seem to revel in negativity, whenever I see you have posted I am filled with dread at the prospect of another attack on TV2"
Nope you are incorrect!
What I am interested in is are the established facts that point to a looming and very severe financial issue.
Did you not read this in the audit section of the Annual Report? I have underlined the salient parts.
"During the year, the consolidated entity incurred a net loss after income tax for the year ended 30 June2018 of $4,529,310 (2017: $9,811,066), incurred net cash outflows in operating activities of $4,526,096(2017: outflow of $3,692,518), and had a net current liabilities of -$338,759 at 30 June 2018 (2017: net current liabilities of -$1,047,650).
The ability of the consolidated entity to continue as a going concern is dependent on securing additional funding through capital raising to continue to meet its working capital requirements in the next 12 months."
2018 Annual Report (p. 31)
Ok ... so let me state the obvious - that is the auditors saying they have some questions about the ability of the entity to operate as a
going concernunless they secure additional funding via a cap raise.
What's so hard to understand about that?
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Do you think that discussion stopped when you left?
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No most definitely not. That is why the facts that I am quoting come directly from the
2018 Annual Report and the
Quarterly Report issued on
1 November 2018.
Not sure what you are missing in my posts? Unless of course you simply want to ignore the facts? That's ok ... but I am not the cause of the perilous financial situation of your company.
Many of you sign off with DYOR - I am doing it for you and yet you see fit to rebuke those efforts. How is that reasonable?
