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Auditor raises ‘material uncertainty’ on No Signboard
The company incurred a net loss of $4.7m in FY22.
No Signboard’s auditor, PKF-CAP, said the company is facing “material uncertainty” after posting a net loss of $4.7m in FY22.
In its independent report, PKF-CAP highlighted that No Signboard also had net liabilities of $7,055,732 and $4,803,637, respectively, in FY22.
Additionally, the group had a net cash outflow from operating activities of approximately $982,000 for the year that ended.
“These conditions indicate the existence of a material uncertainty that may cast significant doubt on the Group and Company’s ability to continue as going concerns,” the auditor stated.
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