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clock Created with Sketch. 18/03/19
16:19
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Originally posted by tt2000
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From page 13 / 14"Going concern The interim financial report has been prepared on a going concern basis, which contemplates the continuity of normal business activity and the realisation of assets and the settlement of liabilities in the ordinary course of business. The Consolidated Entity incurred a loss for the half-year of $5,139,887 (2017: $2,549,403) and net operating cash outflows of $2,469,380 (2017: $1,119,898). As at 31 December 2018, the Consolidated Entity had a working capital deficit position of $13,063,967 (30 June 2018: working capital deficit of $5,656,829). Whilst the Consolidated Entity is in a net asset position, the incurred losses and operating cash outflows indicate a material uncertainty that may cast significant doubt about the Consolidated Entity’s ability to continue as a going concern. "Should the Consolidated Entity be unsuccessful in completing the required funding, finalising offtake finance, and commencing production at the intended time and at the required profit levels, there is material uncertainty whether the Consolidated Entity would continue as a going concern
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funny guy, you forgot to highlight this bit- "The Directors however have prepared a cash flow forecast, which indicates that the Consolidated Entity will have sufficient cash flows to meet all commitments and working capital requirements for the 12-month period from the date of signing this financial report."
