Not sure if I read this from the Nov 10q in this discussion on cash. Also would like to add that the Noteholders owe KRY money for the court costs and I think they are getting something back from their insurance company as well. So we can throw that in the pot that is new since the 10q in Nov.
The anticipated funding shortfall may be met in the future in a number of ways, including a future liquidity event. Accordingly, the Company has a number of financing options available to generate sufficient cash to fund ongoing operations and service its debt requirements as they come due in order to meet such a test in the future including, but not limited to, the following:
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a)
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sale of equity securities;
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b)
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further expenditure reductions;
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c)
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additional sales of equipment;
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d)
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introduction of joint venture partners; and
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e)
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negotiating a settlement with its Noteholders to reduce, eliminate or otherwise decrease
its obligations, particularly, interest costs.
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There is, however, no assurance that these sources of funding or any other initiatives will be available to the Company, or that they will be available on terms that are acceptable to the Company. Accordingly, these unaudited interim consolidated financial statements do not reflect the adjustments to the carrying values of assets and liabilities, the reported expenses and the balance sheet classifications used, that would be necessary should the Company be unable to continue as a going concern in the normal course of operations. Such adjustments could be material.
