GO2 People Ltd (ASX: $GO2) Preliminary Final Report Highlights

The GO2 People Ltd (ASX: $GO2) has released its Appendix 4E Preliminary Final Report for the year ended 30 June 2023. The report indicates that the company and its subsidiaries entered voluntary administration on 1 May 2023, resulting in the seizure of all available cash by the administrator. As of 30 June 2023, the company did not control any cash, and all its liabilities were under the control of the administrator. Additionally, the report highlights the loss of control over all of its subsidiaries, including GO2 Building Pty Ltd, Terra Firma Constructions Pty Ltd, GO2 Recruitment Unit Trust, GO2 Recruitment Pty Ltd, GO2 People Australia Pty Ltd, GO2 Skills & Training Pty Ltd, Hunter Executive Search Consultants Pty Ltd, Skill Hire Australia Pty Ltd, Skill Hire WA Pty Ltd, NARA Training and Assessing Pty Ltd, and Skill Hire Indigenous Contracting Pty Ltd.

Executive Commentary on the Preliminary Final Report

The company's Appendix 4E Preliminary Final Report reflects the challenging financial period that led to the decision to enter voluntary administration. The loss of control over subsidiaries and the seizure of available cash have significantly impacted our operations. We are working closely with the administrator to address the financial situation and explore potential pathways for the company's future. Our focus remains on navigating through this period and identifying opportunities for sustainable recovery.

Summary of GO2 People Ltd (ASX: $GO2) Preliminary Final Report

The GO2 People Ltd (ASX: $GO2) has reported a challenging financial period in its Appendix 4E Preliminary Final Report, with the company and its subsidiaries entering voluntary administration, resulting in the loss of control over all subsidiaries and the seizure of available cash. The report also highlights the auditor's disclaimer of opinion due to the limitation of scope in auditing the books and records of the group. The company is actively engaged in addressing the financial challenges and is focused on identifying opportunities for sustainable recovery. The outlook for the company involves working closely with the administrator to navigate through the current situation and explore potential pathways for the company's future.