auditors report

Auditor’s opinion
In our opinion:
(a) the financial report of CBD Energy Limited is in accordance with the Corporations Act 2001,
including:
(i) giving a true and fair view of the consolidated entity’s financial position as at 30 June
2012 and of its performance for the year ended on that date; and
(ii) complying with Australian Accounting Standards (including the Australian
Accounting Interpretations) and the Corporations Regulations 2001; and
(b) the financial report and notes also comply with International Financial Reporting Standards
as disclosed in Note 1.
Material uncertainty regarding continuation as a going concern
The Auditors are uncertain how long CBD will be viable.


Without qualifying our opinion, we draw attention to Note
2 (a) (i) in the financial report which
indicates the continuing viability of the consolidated entity and its ability to continue as a going
concern and meet its debts and commitments as and when they fall due are dependent upon the
consolidated entity receiving continuous support from its existing lenders, being successful in raising
additional funds and meeting its operational budget. These conditions, along with other matters as set
forth in Note 2 (a) (i), indicate the existence of a material uncertainty which may cast significant doubt
about the consolidated entity's ability to continue as a going concern and, therefore, the consolidated
entity may be unable to realise its assets and discharge its liabilities in the normal course of business
and at the amounts stated in the financial report.