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Going Concern
6 Months Ended
Dec. 31, 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 December 31, 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 December 31, 2017, the Company has working capital of $6.9 million. The Company reported a net loss of $11.6 million for the fiscal year 2017 and a net loss of $6.1 million for the six months ended December 31, 2017, along with net cash used in operating activities of $8.8 million for the fiscal year 2017 and net cash used in operating activities of $5.8 million for the six months ended December 31, 2017. This 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 continues to pursue many options for its capital requirements to maximize shareholder value. 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. In addition, the Company engaged Chardan Capital Markets on June 8, 2016 to explore strategic alternatives; this engagement is ongoing.
Astrotech’s consolidated financial statements as of December 31, 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.