from the financial statement 6 months ended 30th sept 2007
revenue 30.5 million 18.4 million was flyjet
gross loss 11.4 million of which 1 million was Flyjet
so for silverjet scheduled ~ revenue 12.2 million and losses 10.4 million
cash outflow from the business
6 months 31st march 2007 11.9 million
6 months to 30 sept 2007 14.7 million
therefore 12 months to 30th Sept cash burn 26.6 million
The new funding plan, which includes a proposed placing of £12 million shares
and £10 million of convertible loans, is subject to the formal approval of
shareholders at an EGM in December 2007. As the Group is required to access
additional resources, which may not be available in the required time frame for
the Group to realise its assets and discharge its liabilities in the normal
course of business, there is a material uncertainty relating to going concern
should the new funding plan not be approved by shareholders.
Based on discussions with the Group's underwriters as well as existing and
potential shareholders the directors are confident that the future funding plan
will be approved successfully. They have accordingly prepared this announcement on a going concern basis.
it would seem to me that somethings will have to change if they are to start making a profit