Here is the reason why the SP will remain subdued (statement in...

Here is the reason why the SP will remain subdued (statement in the auditors report- last page) ... Needs a CR to get the share price moving.

Not sure how they get a clean bill of health with this material uncertainty.... as a minimum the board should raise say at least $3.0M.

looks like whilst SIMPEC is performing however there are other business units like the precast losing money. Surely this de-motivate the SIMPEC guys as they are making money and the other business units losing- Any capital raisings will dilute the guys that brought in the business. If SIMPEC are the ones keeping the group afloat, then surely one of them should be on the board?

Material Uncertainty Regarding Continuation as a GoingConcern  

Without modifying our opinion above, we draw attention toNote 2(b) to the financial report, which indicates that the Consolidated Entityincurred a net loss of $1,402,782 and as of that date, the Consolidated Entityhad a working capital deficiency of $3,146,958. These conditions, along with other matters as set forth in Note 2(b)indicate the existence of a material uncertainty that may cast significantdoubt about the ability of the Consolidated Entity to continue as a goingconcern and whether it will realise its assets and extinguish its liabilitiesin the normal course of business and at the amounts stated in the financialreport.