Note 17 - Liquidity

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Substantial Doubt about Going Concern [Text Block]

17.

     Liquidity

We continue to monitor our liquidity needs and in response to our continued losses have taken measures to reduce expenses and restructure operations which we feel are necessary to ensure we maintain sufficient working capital and liquidity to operate the business and invest in our future.

We have experienced continued declines in revenues and recurring losses. As a result, we have evaluated our ongoing business needs, and considered the cash requirements of our base business of Air Pollution Control (APC) and Fuel Chem businesses. This evaluation included consideration of the following: a) customer and revenue trends in our APC and Fuel Chem business segments, b) current operating structure and expenditure levels, c) current availability of working capital, and d) support for our research and development initiatives. We continue to monitor our liquidity needs and have taken measures to reduce expenses and restructure operations which we feel are necessary to ensure we maintain sufficient working capital and liquidity to operate the business and invest in our future. We believe our current cash position and net cash flows expected to be generated from operations are adequate to fund planned operations of the Company for the next

12

months. In the event we determine we need to raise additional working capital, we

may

consider various financing alternatives which

may

include debt financing, common stock offerings, or financing involving convertible debt or other equity-linked securities; however, such financing alternatives

may

not

be available on acceptable terms or at all and any such additional financing could be dilutive to our shareholders.