Brief: TDH Says Independent Accounting Firm Expressed Doubt About Co's Ability To Continue As Going Concern

TDH Holdings

15/05/2019 21:28

May 15 (Reuters) - TDH Holdings Inc  PETZ.O :
    * TDH HOLDINGS, INC. REPORTS FULL YEAR 2018 AUDITED
FINANCIAL
RESULTS
    * TDH HOLDINGS - CO'S INDEPENDENT REGISTERED PUBLIC
ACCOUNTING
FIRM EXPRESSES SUBSTANTIAL DOUBT ABOUT ABILITY TO CONTINUE AS A
GOING CONCERN
    * TDH HOLDINGS INC - REPORT OF INDEPENDENT ACCOUNTING FIRM
EXPRESSES SUBSTANTIAL DOUBT ABOUT COMPANY'S ABILITY TO CONTINUE
AS A GOING CONCERN
    * TDH HOLDINGS - FOR YEAR ENDED DEC 31, 2018, CO HAS
INCURRED NET
LOSS OF ABOUT $14.2 MILLION AND WORKING CAPITAL DEFICIT OF ABOUT
$11.3 MILLION
    * TDH HOLDINGS -  CASH BALANCE & REVENUES GENERATED CANNOT
BE
PROJECTED TO COVER OPERATING EXPENSES, MEET OBLIGATIONS AS THEY
ARE DUE FOR NEXT 12 MONTHS
    * TDH HOLDINGS INC - COST OF REVENUES INCREASED BY 34.1% TO
$27.73
MILLION FOR YEAR OF 2018
    * TDH HOLDINGS INC - GROSS LOSS WAS $4.05 MILLION FOR YEAR
OF 2018
AS COMPARED TO GROSS PROFIT OF $8.30 MILLION FOR 2017
    * TDH HOLDINGS INC - REVENUES DECREASED BY 18.3% FROM $28.98
MILLION TO $23.67 MILLION FOR YEAR OF 2018

Source text for Eikon:  ID:nPn7JXhd7a 
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