Health site Drkoop.com has filed regulatory documents that raise "substantial doubt" about its business, news that sent its stock plummeting more than 40 percent in early trading Friday.
Published:
8 April 2000 y., Saturday
In an annual report with the Securities and Exchange Commission released Thursday, the company said it has "sustained losses and negative cash flows from operations since its inception," posing a threat to its future as a business. PricewaterhouseCoopers, the company's auditor, said in the filing that the company's financial data has raised "substantial doubt about its ability to continue as a going concern." In its defense, management said it intends to raise working capital through additional equity or debt financing in the upcoming year, according to the filing. The Austin, Texas-based company was not immediately available for comment. Drkoop is the latest Internet company to report that it is running low on cash. Earlier last week, online music seller CDNow said its auditor, Arthur Andersen, has also expressed "substantial doubt" about whether the company can continue to stay in business, according to an SEC filing. Thursday, online grocer Peapod said it is soliciting takeover offers from a range of suitors as the company continues to face cash flow problems.
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Most EU countries continue to meet deadlines for incorporating single market rules into national law, contributing to economic growth and job creation.
more »
Japanese officials unveil their new bullet train, capable of travelling at speeds of 320 km per hour (198 miles per hour).
more »
The first International Security Technology Exhibition, KIPS 2011, will be held on 23-26 February 2011 in Kiev (Ukraine). The motto of the exhibition is ‘There can never be too much security!’
more »
The world's highest restaurant opens in Dubai, United Arab Emirates, located 400 metres above ground in Burj Khalifa, the world's tallest tower.
more »
The rights of consumers will be clarified and updated, whether they shop at a local store or buy goods on line, under new EU rules as amended by the Internal Market Committee on Tuesday.
more »
MEPs on Wednesday gave their green light for the Council to conclude an Interim Economic Partnership Agreement with Papua New Guinea and Fiji, two countries of the Pacific Region with significant exports to the EU.
more »
Report sets 10 priorities for tackling the bloc's main economic challenges, launching the first ever ‘European semester'.
more »
China's first capsule hotel ready to open its doors in Shanghai, aims to capture slice of booming leisure budget travel market.
more »
Declaration by Michel Barnier on the start of three new authorities for supervision.
more »
On 1 January, Estonia adopted the euro as its official currency and the changeover is running smoothly and according to plan.
more »