b'INDEPENDENT AUDITORS REPORT >TO THE MEMBERS OF DONACO INTERNATIONAL LIMITEDCrowe Sydney ABN 97 895 683 573Member of Crowe GlobalAudit and Assurance ServicesLevel 15, 1 OConnell StreetSydney NSW 2000 Australia Tel +61 2 9262 2155 Fax +61 2 9262 2190 www.crowe.com.auREPORT ON THE AUDIT OF THE FINANCIAL REPORTOPINIONWe have audited the financial report of Donaco International Limited (the Company and its subsidiaries (the consolidated entity), which comprises the consolidated statement of financial position as at 30 June 2019, the consolidated statement of profit or loss and other comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies, and the directors declaration.In our opinion, the accompanying financial report of consolidated entity is in accordance with the Corporations Act 2001, including:(a)giving a true and fair view of the consolidated entitys financial position as at 30 June 2019 and of its financial performancefor the year then ended; and(b)complying with Australian Accounting Standards and the Corporations Regulations 2001.BASIS FOR OPINIONWe conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditors Responsibilities for the Audit of the Financial Report section of our report. We are independent of the consolidated entity in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Boards APES 110 Code of Ethics for Professional Accountants (the Code) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code.We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.MATERIAL UNCERTAINTY RELATED TO GOING CONCERNWe draw attention to Note 1 in the financial report, which indicates that the consolidated entitys current liabilities exceeded its current assets by $30,859,389 as at 30 June 2019. The consolidated entity recorded a net loss after tax of $193,992,693, a net profit after tax and before impairment of $6,091,656, and net operating cash inflows of $26,456,470 for the year ended on that date. As stated in Note 1, the directors have prepared the 30 June 2019 financial report on a going basis and have been taking actions to address these financial positions. Should the events or actions set forth in Note 1 not eventuate, it may result in a material uncertainty that may cast significant doubt on the consolidated entitys ability to continue as a going concern. Our opinion is not modified in respect of this matter.The title Partner conveys that the person is a senior member within theirlegal entity. Findex (Aust) Pty Ltd and its affiliates are not responsible or liable respective division, and is among the consolidated entity of persons whofor any acts or omissions of Crowe Global or any other member of Crowe Global. hold an equity interest (shareholder) in its parent entity, Findex ConsolidatedCrowe Global does not render any professional services and does not have an entity Limited. The only professional service offering which is conductedownership or partnership interest in Findex (Aust) Pty Ltd. Services are provided by a partnership is the Crowe Australasia external audit division. All otherby Crowe Sydney, an affiliate of Findex (Aust) Pty Ltd. Liability limited by a professional services offered by Findex Consolidated entity Limited arescheme approved under Professional Standards Legislation. Liability limited other conducted by a privately owned organisation and/or its subsidiaries. than for acts or omissions of financial services licensees.Findex (Aust) Pty Ltd, trading as Crowe Australasia is a member of Crowe Global, a Swiss verein. Each member firm of Crowe Global is a separate and independent 2019 Findex (Aust) Pty Ltd.86 DONACO INTERNATIONAL LIMITED 2019 ANNUAL REPORT'