RE:RE:Has anyone here even read itFor the folk missing the financial statement comprehension that the post caters to, it is important to offer some factual balance to the poster's assessment casting liquidity aside like there is nothing to it.
The more complete truth for those that don't know how to read financial statements and are unwilling to learn quickly, can be gleened by reading the company's disclosure on the matter, emphasized by the audtiors, in Note 2 of the financial statements. Auditor report covers it under "Material uncertainty related to going concern" and says "We draw attention to Note 2 to the consolidated financial statements, which indicates the existence of a material uncertainty that may cast significant doubt about the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter."
You can read the entire note that speaks to the overall losses accumulated from the past, the working capital deficiency (surplus of short-term liabilities over short-term assets available to pay for them), past fund raising activities all leading to that emphasis.
For that reason, the expected collection of the US$8 million accounts receivable in Q2 is one of the most important things that needs to happen in my view. Without it happening, things are certainly not going to get easier to keep going. Some payments can be delayed in making, but some not so much, and those are the balls a company has to juggle when operating with a working capital deficit.