Mr. Brian Kealy:

It was December 2010. These accounts were not signed until 29 August 2011. It appears they were lodged with the CRO on 27 October 2011. Basically, there was a section which said, emphasis on matter – continued financial support. It was stated that in forming their opinion, which was not qualified, the auditors had considered the adequacy of the disclosures made in the notes to the accounts. It was stated that the company was owed money by a company and the directors believed that the loan would be fully recovered within two years. The directors stated the company was on track to achieve significant budget profits for the year. It was said that the conditions indicated the existence of material uncertainty which might cast significant doubt over the company's ability to continue as a going concern. The financial statements did not include any adjustments that would result if the company was unable to continue as a going concern. It subsequently came out from the independent auditor's report at the time of the examinership that even though the company's accounts were already €2 million in the red, there was an overstatement of €700,000 in the position of the company so it was really €2.7 million in the red.