UXA 0.00% 0.0¢ uxa resources ltd

thoughts from an outsider, page-11

  1. 2,843 Posts.

    Below is a fairly standard paragraph in a Auditors Report but a quick glance through the Latest Annual Report does not show me the conditions of the 2.160 million senior debt facility.Can anyone here clarify those conditions.The La Jolla Cove continuous issue of shares as i understand it is for working capital and "administration expenses".

    "Without qualification to the opinion expressed above, we draw attention to the following matters. For the year ended
    30 June 2011 the Group incurred a loss of $3.6 million and had operating cash outflows of $2.0 million.
    As a result of the uncertainties set out in note 2(e) to the financial statements, including the Group’s ability to raise
    equity and / or debt, there is material uncertainty which may cast doubt on the Group’s ability to continue as a going
    concern and therefore its ability to realise its assets and discharge its liabilities in the normal course of business at the amounts recognised in the financial statements".
    Cheers
    Rob
 
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