The Johannesburg-based bourse has pointed out that Zaptronix's results for the year to August contain an “emphasis of matter”.
The company, which offers tracking, energy and metering solutions, recently released its audited numbers for the year. The audited results contain modifications to the year-end results released in December.
Among the changes, revenue decreased by R115 760, to R29 million, and the basic loss per share narrowed from 0.68c to 0.59c. However, Zaptronix still made a loss of R2.24 million, which is less than the initially reported loss of R2.5 million.
As a result, the auditors report contains an emphasis of matter, pointing out that the company incurred a net loss during the year, which relates to Zaptronix's ability to continue as a going concern.
The auditors say Zaptronix's ability to proceed with business depends on it wrapping up several acquisitions that are in the pipeline.
Zaptronix was already in the JSE's spotlight after it failed to file its annual report on time. The report had to be out at the end of last month, or the company would be suspended on the bourse. Zaptronix issued its report on 6 April, but its shares are still trading.
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