Going concern
Filing comparison
EMPIRE PETROLEUM CORP said management's plans alleviate substantial doubt about going concern
Substantial doubt about ability to continue as a going concern → Substantial doubt raised, alleviated by management's plans
While these transactions provide additional funding towards the Company’s obligations, the Company expects to have negative working capital for the remainder of 2026 and future expected operating cash flows do not sufficiently meet the Company’s obligations for the next 12 months. Given the negative working capital and insufficient expected operating cash flow there is substantial doubt about the Company’s ability to continue as a going concern. Empire has committed financial support from Mr. Mulacek who owns approximately 29.1% of our common stock outstanding as of March 31, 2026, and Energy…
Evidence
- Blank check
- No
- Comparable
- Yes
- Current state
- doubt_alleviated
- Current state label
- Substantial doubt raised, alleviated by management's plans
- Direction
- eased
- Located in
- going-concern note
- Prior filed
- 2025-11-14
- Prior form
- 10-Q
- Prior state
- substantial_doubt
- Prior state label
- Substantial doubt about ability to continue as a going concern
- 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.