Going Concern Going Concern

3 Months Ended

Sep. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Going Concern

Going Concern

Financial Condition

The Company’s consolidated financial statements for the quarter ended September 30, 2017 have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of September 30, 2017, the Company has working capital of $9.6 million. For fiscal year 2017, the Company reported a net loss of $11.6 million and net cash used in operating activities of $8.8 million, which raises substantial doubt about the Company’s ability to continue as a going concern, but the Company remains resolute in identifying the optimal solution to the liquidity issue.

Management’s Plans to Continue as a Going Concern

Management has engaged Chardan Capital Markets to pursue strategic alternatives for the Company. These include, but are not limited to, selling the Company or a portion thereof, debt financing, equity financing, merging, or engaging in a strategic partnership. Management continues to explore these strategic alternatives as we look to improve our liquidity and maximize shareholder value.

Astrotech’s consolidated financial statements as of September 30, 2017 do not include any adjustments that might result from the inability to implement or execute the Company’s plans to improve its ability to continue as a going concern.