mdg-annual-report-2013

MEDIGENE AG ANNUAL REPORT 2013 AUDIT OPINION 127Our audit has not led to any reservations.In our opinion, based on the findings of our audit, the consolidated financial statements comply with IFRSs as adoptedby the EU as well as the additional requirements of German commercial law pursuant to Sec. 315a (I) HGB and give atrue and fair view of the net assets, financial position and results of operations of the Group in accordance with theserequirements. The group management report is consistent with the consolidated financial statements and as a wholeprovides a suitable view of the Group’s position and suitably presents the opportunities and risks of future development.Without qualifying our opinion, we draw attention to the disclosures in the group management report. As it is describedin the section »Financial risks«, the ability of the Parent and therefore of the Group to continue as a goingconcern is endangered, since based on the latest business plans and the scenarios developed therein, as well as basedon the available financial resources as of 31 December 2013, the Company’s operations are only financed until thesecond quarter of 2015. The ability to raise additional funds from external sources depends on financial, economicand other factors, on which management has only a limited influence. These factors also include the results of theresearch and development activities. At this point of time, the management board believes that it is predominantlyprobable that additional funding from external sources, for example, from further partnerships with pharmaceuticalcompanies or by virtue of capital measures, can be obtained in a timely manner.«Munich, 18 March 2014Ernst & Young GmbHWirtschaftsprüfungsgesellschaftBarthWirtschaftsprüferGallowskyWirtschaftsprüfer