NoonTalk Media (SGX:SEJ) said its financial statements were prepared on the basis that the company can continue operating, even as its auditor, Foo Kon Tan, raised concerns about the company's ability to stay financially stable.

The auditor pointed out NoonTalk recorded a net loss of about SG$1.8 million for fiscal 2025 ended June 30, and had more debts than assets, which could cast doubt on its ability to keep operating, the company said in a Thursday filing with the Singapore Exchange.

In response, NoonTalk's board said the financial statements have been prepared on a going concern basis. The company cited ongoing financial support from its executive director and chief executive officer, including a SG$2 million loan facility, of which SG$1.4 million has been drawn to date. The CEO has also committed not to demand repayment within the next 12 months.