The Auditors note:
Significant uncertainty factors regarding the assumption of going concern
Without affecting our statements above, we would like to draw attention to the income statement and balance sheet in the annual report, which shows that the company reports a loss for the financial year. The Board of Directors' report states that the company has identified a risk that the company will not be able to receive adequate funding for the business. Such financing is not secured at the time of submission of the annual report. These conditions indicate that there is a significant uncertainty factor that can lead to significant doubts about the company's ability to continue operations.
The Management team and Board of Directors working are working on a plan to solve the going concern factor by seeking long term financing.
For more information:
Jörgen Ekengren, CEO, InCoax Networks AB
+46 73- 899 55 52