Thin Film Electronics ASA ("Thinfilm") has today received the auditor's opinion of Thinfilm's financial statements for 2009. The audit opinion contained the following point of emphasis: "Without qualifying our opinion, we draw your attention to the information in the Board of Directors' Report related to the going concern assumption." The Norwegian Share Trading Act prescribes that Thinfilm announces this point of emphasis in a notice to the market.
In the report, which will be sent to the shareholders on 15 April 2010, the Board of Directors have stated that "If the company does not earn revenue, Thinfilm will need to raise additional equity and/or working capital during 2010. The outstanding warrants, which expire on 6 November 2010, represent a source of new equity. [...] The board confirms that the financial statements of the group as well as the parent company have been prepared under the going concern assumption. The uncertainty attached to this assumption has been stated above, but the board takes for its basis that the outstanding warrants will be exercised."
In the report, which will be sent to the shareholders on 15 April 2010, the Board of Directors have stated that "If the company does not earn revenue, Thinfilm will need to raise additional equity and/or working capital during 2010. The outstanding warrants, which expire on 6 November 2010, represent a source of new equity. [...] The board confirms that the financial statements of the group as well as the parent company have been prepared under the going concern assumption. The uncertainty attached to this assumption has been stated above, but the board takes for its basis that the outstanding warrants will be exercised."
9 April 2010
Thin Film Electronics ASA
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)