The company is reliant on continued support from its parent undertaking, Metrikus Limited, and the investors in the group headed by Metrikus Limited ('the group'), in order to meets its debts as they fall due.
The directors have considered their expectations and intentions for the company and the group for the next twelve months, including contracted revenues, forecasted pipeline and funding opportunities from both existing shareholders and external parties and, in the opinion of the directors, the group will be able to obtain sufficient financial resources to provide continued support to the company. Therefore the financial statements have been prepared on the going concern basis.
However, the directors acknowledge that the group has made losses since incorporation. This is due to the directors' focus on growing the business over the long-term as opposed to generating short-term profits. As a result, the group and company are reliant on continued funding from both the group's existing shareholders and external parties to continue as a going concern for the next twelve months and therefore a material uncertainty exists that may cast doubt on the company's ability to continue as a going concern.