ThinFilm under going concern alert
A going concern warning has been issues against Thin Film Electronics, with auditors warning the company is facing serious liquidity issues
AUDITORS HAVE ISSUED a going concern alert for Thin Film Electronics, warning of severe cash flow issues.
The report revealed the Norwegian maker of interactive games is operating at a loss and lacks the assets to leverage borrowing, warning it will have to secure further funds in 2011 or face a difficult future.
In a severe conclusion, the auditors said: “It is inherently uncertain whether the company will be able to obtain additional capital and at which terms.”