Merge?s auditors express concerns about its finances
Merge Healthcare's independent registered public accounting firm, KPMG, has expressed substantial doubt as to whether Merge can continue to meet its financial obligations beyond 2008 without access to additional cash and cash equivalents, based upon the company's current financial resources.
The company’s 2007 Annual Report on Form 10-K filed on April 1, included an audit opinion with a "going concern" qualification from the firm, according to Merge.
Merge stated in its annual report that additional cash would likely be necessary in order to fund its operations beyond the latter half of the second quarter of 2008 and that it was considering all strategic options in an effort to address its current liquidity situation.
Nasdaq Marketplace Rule 4350(b) (1) (B) requires Nasdaq-listed companies to publicly announce through the news media the receipt of an audit opinion containing a "going concern" qualification.
The company’s 2007 Annual Report on Form 10-K filed on April 1, included an audit opinion with a "going concern" qualification from the firm, according to Merge.
Merge stated in its annual report that additional cash would likely be necessary in order to fund its operations beyond the latter half of the second quarter of 2008 and that it was considering all strategic options in an effort to address its current liquidity situation.
Nasdaq Marketplace Rule 4350(b) (1) (B) requires Nasdaq-listed companies to publicly announce through the news media the receipt of an audit opinion containing a "going concern" qualification.