Thin Film Electronics ASA ("Thinfilm") has today received the auditor's opinion of Thinfilm's financial statements for 2010. 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 or around 14 April 2011, the Board of Directors have stated that " Thinfilm operates at a loss and does not have assets suitable for secured borrowing. The company does not have any financial debt. If the company does not earn revenue, Thinfilm will need to raise additional equity and/or working capital during 2011. It is inherently uncertain whether the company will be able to obtain additional capital and at which terms. [...] 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."
7 April 2011
Thin Film Electronics ASA
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)