Tellurian sees ‘substantial doubt’ over ability to continue as going concern

Tellurian disclosed in its quarterly filing that as of September 30, it had $59.3M in cash and cash equivalents and approximately $23.7M of accounts receivable, which it expects will not be sufficient to satisfy its obligations, fund its working capital needs and allow it to remain compliant with debt covenants and liquidity thresholds for twelve months. “These conditions raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. The analysis used to determine the Company’s ability to continue as a going concern does not include cash sources that management expects to be available within the next twelve months but are outside of the Company’s direct control,” Tellurian said. The Company plans to mitigate these conditions by generating additional proceeds from various other potential financing transactions, such as issuances of equity, equity-linked and debt securities, or similar transactions. The stock in morning trading is up 2% to 72.