As described in Note [X] to the (consolidated)3 financial statements, the (consolidated)3 financial statements have been prepared on a going concern basis that assumes the Company will continue to operate. Negotiations are being conducted with the Company’s bankers with a view to realizing the assets of the Company and not for funding to enable the Company to continue to trade. As a result, in our opinion the Company cannot be considered to be a going concern and thus the preparation of its financial statements on a going concern basis is inappropriate. In our opinion the financial statements should reflect adjustments to reduce the value of assets to their recoverable amount and to provide for any further liabilities that might arise. These adjustments are likely to be substantial, but we are unable to determine the total of the required adjustments and provisions with a reasonable degree of accuracy.22