50 shares for each share; 2 shares for 1 share, 19,077,982 shares issued, accounting for 50% of the issued share capital, offering price: HK $0.25, net proceeds of HK $4.32 million, placing agent: Grand Moore Capital Limited
The Group is principally engaged in (i) wine business; (ii) food products operation business.
These conditions, together with the plans and measures described in Note 3 to the consolidated financial statements, indicate the existence of a material uncertainty that may cast significant doubt on the Group’s ability to continue as a going concern.
The directors of the Company have reviewed the cash flow forecasts prepared by management for the Group and are of the opinion that, taking into account the aforesaid financial position, plans and measures, the Group will have sufficient funds to maintain its operations and meet its financial obligations falling due within the next 12 months from the date of approval of these consolidated financial statements. Accordingly, the directors of the Company are satisfied that it is appropriate to prepare the consolidated financial statements on a going concern basis. These financial conditions together with the plans and measures indicate that there exists a material uncertainty that may cast significant doubt on the Group’s ability to continue as a going concern.
