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اليوم السابع
Auditor links Novida's future to Article 69
The auditor's report on Novida for Investment and Technology highlighted significant remarks impacting the company's ability to continue as a going concern. These include accumulated losses of approximately 24.6 million Egyptian pounds as of March 31, 2026, non-compliance by management in paying due taxes within the legal deadlines, and the absence of a prepared assessment study regarding the sufficiency of future provisions. Additionally, the financial condition showed that current liabilities exceed current assets by nearly 3.97 million Egyptian pounds, along with a lack of a clear future plan to address liquidity issues. Based on this, the auditor issued a cautious opinion regarding the company's ability to continue as a going concern, while affirming that the financial statements fairly present its financial position in all material respects up to that date.
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