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Going Concern
9 Months Ended
Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Going Concern
Going Concern
The significant risks and uncertainties related to the Chapter 11 Cases raise substantial doubt about the Company's ability to continue as a going concern. The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern. This assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business.
The Company incurred a net loss of $265.3 million for the nine months ended September 30, 2016, and a net loss of $241.7 million for the year ended December 31, 2015.
We expect that our primary sources of liquidity will be from cash on hand, cash from operations and, until emergence from Chapter 11, financing under our DIP Facility. Our secured term lenders and certain of our noteholders have committed to provide up to $90.0 million under the DIP Facility, of which, we received $30.0 million on October 26, 2016. We are in active discussions with potential lenders to find a replacement for our prepetition $100.0 million asset-based revolving credit facility.
For additional information, please see “Risk Factors” in Part II, Item 1A of this Quarterly Report, as well as “Management’s Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources” in Part I, Item 2 of this Quarterly Report and Note 16. Subsequent Events to these consolidated financial statements.