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
The President of the Spanish Government, José Luis Rodríguez Zapatero, will meet this Monday with the German Chancellor, Angela Merkel, to analyse the future EU economic and employment strategy EU2020 before the Twenty-seven approve its basic lines at the Spring European Council.
more »
The planned overhaul of the EU common fisheries policy should take better account of the huge differences across European fleets and fisheries, give greater responsibility to fishing regions, address the problem of fleet overcapacity and improve the traditional quota system, according to a non-binding report adopted by Parliament on Thursday.
more »
The EMU framework and economic governance within the eurozone need to be revamped.
more »
Young people should be a priority in EU action next year, it emerged on Tuesday, as the Budgets Committee started work on the EU's 2011 budget.
more »
European Investment Bank (EIB) support for EU regional policy is crucial for tackling the economic crisis, EIB President Philippe Maystadt told the Regional Development Committee on Monday.
more »
Three thousand former car, refrigerator and construction workers in Germany and Lithuania could get €7.6 million in EU globalisation adjustment fund aid for training, self-employment and professional orientation under plans approved by the Budgets Committee on Tuesday.
more »
Today, 22 February, the EU Council of Agriculture and Fishing in Brussels, under the chairmanship of the Spanish Minister, Elena Espinosa, will analyse the impact of the economic crisis on the Greek agricultural sector, which has experienced a drop in prices and income, with small farms that pose an obstacle for the producer for negotiating with large distribution chains.
more »
Municipal policies to tackle the crisis and their application at EU level will be discussed during the three days of the summit entitled, “Networked Local Governments for a New Europe”, which will bring together representatives from 260 cities in Barcelona.
more »
The EBRD is promoting energy efficiency and renewable energy projects in Moldova, helping the economy to reduce its energy intensity with a new €20 million credit line for on-lending to local private companies.
more »
The EBRD is lending $1.2 million to Salkyn, one of the largest ice cream producers in Turkmenistan, to help the company expand its distribution network and build up its brand.
more »