Going Concern definition

Going Concern means the ability of the company to continue operations/business in the future with the availability of the resources.

Going Concern is defined by the Auditing Standards Board SAS No. 132.

Going Concern means all the assets, tangibles or intangibles and resources needed to continue to operate independently a business activity which may be whole or a part of the business of the corporate debtor without values being assigned to the individual asset or resource.”

Examples of Going Concern in a sentence

• In addition to the matter described in the Material Uncertainty Related to Going Concern section, we have determined the matters described below to be the key audit matters to be communicated in our report.

• Going Concern The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern.

• Material Uncertainty Related to Going Concern We draw attention to Note 1 to the consolidated financial statements which describes the material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern.

• Operations and Basis of Presentation – Going Concern for further information.

• Going Concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern.

More Definitions of Going Concern

Going Concern. ’ means an entity that

Going Concern means an opinion of an independent accounting firm auditor that there is substantial doubt regarding the entity's ability to continue into the future, generally defined as the following year.

Going Concern means the benefits that accrue to a business or trade as a result of its location, reputation for dependability, skill or quality, customer base, good will, or any other circumstances resulting in the probable retention of old or acquisition of new patronage; and

Going Concern concept means that we prepare the financial statements on the assumption that our business is financially sound and not about to be liquidated.

Going Concern means an enterprise consisting of income-producing assets which has been in operation for a sufficient period of time to generate the data required for the calculation of future income and which could have been expected with reasonable certainty, if the taking had not occurred, to continue producing legitimate income over the course of its economic life in the general circumstances following the taking by the State;

Going Concern. Event of Default (as defined in the Credit Agreement) that would otherwise occur under the Credit Agreement as a result of the filing of the Company’s 2020 Form 10-K in February 2021; ● Allow for the issuance and existence of a new series of Preferred Stock, issued to the New Second Lien Convertible Notes Trustee, which Preferred Stock provides the holders of New Second Lien Convertible Notes limited voting rights, pre-conversion, on an as if converted basis with the holders of Common Stock and the right to appoint two independent directors; ● Amend the definition of “Change of Control” in the Credit Agreement to alleviate any Event of Default (as defined in the Credit Agreement) that would otherwise occur under the Credit Agreement by virtue of the conversion of the New Second Lien Convertible Notes into equity; and ● Permit the existence of any “stub” portion of the existing Second Lien Notes in an amount not to exceed $6,050,000 and amend the definition of the “Term” (as defined in the Credit Agreement) to no longer spring to 9/15/21 so long as the Company has sufficient cash on hand on such date to pay/extinguish any remaining stub portion of the existing Second Lien Notes in full without using proceeds of Revolving Advances.

Going Concern means an entity that is able to continue as a going concern as set forth in Financial Accounting Standards Board Accounting Standards Update 2014-15.