Great Harvest Maeta Group still bleeding cash Great Harvest Maeta Group six month interim report 1016-12-28 https://www.greatharvestmg.com/pdf/en/e_3683.pdf indicates that what appears to be Yan & Lam's principal business is still loosing money rapidly. What we don't know is how much money Abaze Rich, their private holding company, can continue to pump into it or ADEX. They are puchasing land & developing a major horticultural trade center in mainland China. The shipping opperation continues to opperate at a loss and the report indicates that they don't expect that to change in the near term.
The report of PricewaterhouseCoopers review of the report (which was not a full audit) stated "
Emphasis of matter We draw your attention to Note 2.1 to the unaudited interim condensed consolidated financial information, which states that the Group recorded a net loss attributable to the equity holders of US$20,101,000. As at the same date, the Group’s current liabilities exceeded its current assets by US$16,294,000. In addition, the Group failed to comply with an undertaking requirement of a bank borrowing of approximately US$11,448,000 as at 30 September 2016. These matters, along with other matters as described in Note 2.1 to the unaudited interim condensed consolidated financial information,
indicate the existence of a material uncertainty that may cast significant doubt about the Group’s ability to continue as a going concern. (emphasis mine) Our conclusion is not qualified in respect of this matter
PricewaterhouseCoopers
Certified Public Accountants
Hong Kong, 29 November 2016 "