FalconStor’s Audit Opinion Removes Going Concern Explanation
FALCONSTOR SOFTWARE (FALC)
US:NASDAQ Investor Relations:
falconstor.com/page/559/investor-press-releases
Company Research
Source: GlobeNewswire
AUSTIN, Texas, April 04, 2018 (GLOBE NEWSWIRE) -- FalconStor Software, Inc. (OTCQB:FALC), a market leader in storage software, announced that as part of its Annual Report on Form 10-K for the year ended December 31, 2017, filed on April 2, 2018, the audited financial statements were approved without the need for a going concern qualification paragraph by the company’s independent registered public accounting firm. “As previously discussed during our Q3 and Q4 2017 earnings calls and periodic SEC filings, the company has taken several steps to dramatically improve its balance sheet, including returning the company to profitability, securing additional financing, and resetting the mandatory redemption date on the company’s Series A redeemable preferred stock to July 30, 2021,” said Todd Brooks, FalconStor CEO. “The removal of the going concern opinion marks another important step in our efforts to return FalconStor to sustainable growth, and expresses confidence in our strategy and u
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