View Single Post

Old 09-27-2019   #5
raydm6
Registered User
 
raydm6's Avatar
 
raydm6 is offline
Join Date: Oct 2006
Location: North Central Massachusetts (USA)
Posts: 560
There was nothing in their SEC filings (latest 10-Q and such) that I could see other than alluding to the pension liability.

http://investor.kodak.com/sec-filing...4590-19-030788

GOING CONCERN
"...Kodak is facing liquidity challenges due to operating losses and negative cash flow. Kodak has eliminated current debt service requirements by paying down the Senior Secured First Lien Term Credit Agreement (the “Term Credit Agreement”) using proceeds from the sale of Kodak’s Flexographic Packaging business (“FPD”) and refinancing the remaining balance through the issuance of convertible debt which does not require any debt service until conversion or maturity on November 1, 2021. However, Kodak has significant cash requirements to fund ongoing operations, restructuring programs, pension and other postretirement obligations, and other obligations. Kodak’s plans to return to positive cash flow include growing revenues profitably, reducing operating expenses, simplifying the organizational structure, generating cash from additional asset sales and paring investment in new technology by eliminating or delaying product development programs. The current cash balance outside of China, recent trend of negative cash flow and lack of certainty regarding the return to positive cash flow raise substantial doubt about Kodak’s ability to continue as a going concern."
__________________
flickriver
  Reply With Quote