MICROSALT PLC

• ◆

  Material uncertainty over going concern

  The Directors recognise that the Group's cash flow forecasts are dependent on the generation and timing of revenue from key customers, therefore a material uncertainty exists. These events or conditions indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Whilst these are uncertain, the Directors remain of the opinion that, should there be a delay in revenue compared to our forecasts, alternative sources of funds will be found, such as through further equity raises on the AIM market or debt finance secured on trade receivables and / or inventories. Therefore, the financial statements continue to be prepared on the going concern basis.

• ·

  Going-concern uncertainty disclosed

Figures converted to GBP from USD at 0.749 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.

1. MICROSALT PLC 2023-10-17 → present
2. MICROSALT LTD. 2022-07-12 → 2023-10-17
3. SALARIUS LTD. 2016-03-14 → 2022-07-12

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

Crowe U.K LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The Directors recognise that the Group's cash flow forecasts are dependent on the generation and timing of revenue from key customers, therefore a material uncertainty exists. These events or conditions indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Whilst these are uncertain, the Directors remain of the opinion that, should there be a delay in revenue compared to our forecasts, alternative sources of funds will be found, such as through further equity raises on the AIM market or debt finance secured on trade receivables and / or inventories. Therefore, the financial statements continue to be prepared on the going concern basis.”

Group structure

1. MICROSALT PLC · parent
   1. MicroSalt Inc. 92% · United States of America · development and sale of low sodium salt and snack foods

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

8

last 12 months

Capital events

7

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.