The entertainment company sank deeper into the red with a net loss of S$3.8 million for FY2024, up from S$3.2 million the year before. Its net operating cash outflow amounted to S$876,207, down from S$1.7 million in the previous year.
NoonTalk’s auditor said in a note: “These conditions indicate the existence of a material uncertainty that may cast significant doubt about the company’s ability to continue as a going concern.”
In view of the net loss and cash outflow, the auditor tested the company’s assets and film products for impairment, evaluated the appropriateness of its accounting policies for film products, and analysed revenue estimates from its film production.
Additionally, the auditor highlighted expected credit losses on finance lease receivable, trade receivables and contract assets.
More at https://url1.io/rATcj
NoonTalk’s auditor said in a note: “These conditions indicate the existence of a material uncertainty that may cast significant doubt about the company’s ability to continue as a going concern.”
In view of the net loss and cash outflow, the auditor tested the company’s assets and film products for impairment, evaluated the appropriateness of its accounting policies for film products, and analysed revenue estimates from its film production.
Additionally, the auditor highlighted expected credit losses on finance lease receivable, trade receivables and contract assets.
More at https://url1.io/rATcj
