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
European conference promotes regional solutions to global challenges.
more »
Iceland‘s low-fare airline Iceland Express will launch regular flights by the new-generation „Boeing 737-700“ planes to about 8 different destinations from Vinius International Airport.
more »
Over 3 million people around the world have lost their jobs due to the financial crisis and, according to the UN, economic recovery is unlikely to reach those that have suffered most - poor women and children.
more »
The European Commission has today decided not to raise any objections to the public financing of infrastructure developments at three Lithuanian airports – Vilnius, Kaunas and Palanga International Airports.
more »
The European Commission has published the results of a public consultation launched in June 2009 on whether and how deadlines should be set for the migration of existing national credit transfers and direct debits to the new Single Euro Payments Area (SEPA) payment instruments.
more »
A favourable climate for innovation in the EU can speed up the transition to an eco-efficient economy and increase Europe’s global competitiveness.
more »
The International Monetary Fund (IMF) and the Deutsche Bundesbank have signed an agreement to provide the Fund with up to the equivalent of €15 billion (about US$22 billion).
more »
Today the European Central Bank is publishing a report entitled “Euro Money Market Survey 2009”, which illustrates the main developments in the euro money market in the second quarter of 2009, in comparison with the second quarter of 2008.
more »
New EU laws proposed for closer oversight of financial services industry, sending a strong signal to this week's G20 summit.
more »
The European Commission has repeatedly underlined that the restructuring plan of new Opel Europe must guarantee that the company will be viable in the future.
more »