Investors in $GPRH might want to read the preliminary results, section 2.2 "Going concern" which finishes
"The directors consider there to be a material uncertainty that casts doubt upon the group's ability to continue as a going concern, however the Directors consider that it is appropriate to prepare the financial statements of the Group and the Company on a going concern basis, and accordingly, the financial statements do not include any adjustments relating to the recoverability and classification of assets and liabilities that may be necessary, if the going concern basis of preparing the financial statements of the Group and of the Company is not appropriate."
I hold no position in the company
Very well spotted - hidden well within the notes to the report. Should be a headline key statement rather than the positive spin items at the head of the report.
I had noticed this statement toward that top of the report which does mention fund raising but doesn't mention the need to do it to remain a going concern :
The Group is in the process of raising additional funds through a corporate exercise and continues to engage with its financial partners to further enhance the Group's financial platform thereby providing us greater flexibility and speed to address and execute our business and growth opportunities.
It makes for interesting reading as a lesson on how put positive spin on what appears to be a serious situation and try to convince the investment community that it is a worthwhile business.
Interestingly it has a perfect zero for stock rank.
No holding. No interest in ever holding.
.JPG)
