Going concern
Filing comparison
Intercont (Cayman) Ltd disclosed substantial doubt about its ability to continue as a going concern
Substantial doubt raised, alleviated by management's plans → Substantial doubt about ability to continue as a going concern
Explanatory Paragraph-Going Concern As discussed in Note 1 to the combined and consolidated financial statements, the Company has a significant working capital deficit as of June 30, 2026. The Company’s ability to continue as a going concern is dependent, in part, on receiving financial support from the Company’s primary shareholders. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Management’s evaluation of these conditions and its plans regarding these matters are described in Note 1 to these combined and consolidated financial…
Evidence
- Blank check
- No
- Comparable
- Yes
- Current state
- substantial_doubt
- Current state label
- Substantial doubt about ability to continue as a going concern
- Direction
- escalated
- Located in
- going-concern note
- Prior filed
- 2025-10-30
- Prior form
- 20-F
- Prior state
- doubt_alleviated
- Prior state label
- Substantial doubt raised, alleviated by management's plans
- Source
- ASC 205-40 going-concern note comparison
- Why
- Disclosure about the company's ability to continue as a going concern changed compared with its previous report.