ZeroStack, a Nasdaq-listed crypto treasury company, said in a 10-Q filing with the U.S. Securities and Exchange Commission that its current cash flow may not be enough to fund operations over the next 12 months, raising substantial doubt about its ability to continue as a going concern. As of June 30, the company held $2.6 million in cash. It also disclosed holdings of 75.1 million 0G tokens, whose value had fallen about 91% from cost. ZeroStack said staking income and token sales are its main sources of funding, but added that it cannot determine whether those measures will be sufficient to remove the going-concern risk. The disclosure was cited by Techub, referencing crypto.news.
ZeroStack, a Nasdaq-listed crypto treasury company, warned in a 10-Q filing with the U.S. Securities and Exchange Commission that its cash flow may not be enough to support operations over the next 12 months, raising substantial doubt about its ability to continue as a going concern.
As of June 30, the company held $2.6 million in cash. It also said the value of its 75.1 million 0G tokens had dropped about 91% from cost.
ZeroStack said staking income and token sales are its main funding sources, but it could not determine whether those measures would be enough to eliminate the going-concern risk.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
