Brief: Dolphin Entertainment Says Co Does Not Have Adequate Capital To Fund Obligations

Dolphin Entertainment

13/07/2020 23:22

July 13 (Reuters) - Dolphin Entertainment Inc  DLPN.O :
    * DOLPHIN ENTERTAINMENT - AS OF MARCH 31, CO HAD WORKING
CAPITAL
DEFICIT OF $10.7 MILLION AND THEREFORE DOES NOT HAVE ADEQUATE
CAPITAL TO FUND OBLIGATIONS
    * DOLPHIN ENTERTAINMENT - CONTINUED SPREAD OF COVID-19 AND
UNCERTAIN MARKET CONDITIONS MAY LIMIT CO’S ABILITY TO ACCESS
CAPITAL
    * DOLPHIN ENTERTAINMENT - IF CO UNABLE TO OBTAIN FUNDING
FROM
SOURCES WITHIN NEXT 12 MONTHS, COULD BE FORCED TO CURTAIL
BUSINESS OPERATIONS OR LIQUIDATE
    * DOLPHIN ENTERTAINMENT - SOME FACTORS RAISE SUBSTANTIAL
DOUBT
ABOUT ABILITY OF CO TO CONTINUE AS GOING CONCERN

Source text (https://bit.ly/3gXkW6M)
Further company coverage:  DLPN.O 

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