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Going Concern
The Company’s consolidated financial statements as of March 31, 2019 were prepared under the assumption that the Company will continue as a going concern. At March 31, 2019, the Company had cash and cash equivalents of $13.2 million. Given the Company’s development plans, the Company estimates cash resources will be sufficient to fund its operations into the first quarter of 2020. This estimate is based on assumptions that may prove to be wrong; expenses could prove to be significantly higher, leading to a more rapid consumption of the Company’s existing resources.
The Company’s ability to continue as a going concern depends on its ability to obtain additional equity or debt financing, attain further operating efficiencies, reduce expenditures, and, ultimately, to generate revenue. If the Company is unable to continue as a going concern, it may have to liquidate its assets and may receive less than the value at which those assets are carried on its audited consolidated financial statements, and it is likely that investors will lose all or part of their investment. If the Company seeks additional financing to fund its business activities in the future and there remains substantial doubt about its ability to continue as a going concern, investors or other financing sources may be unwilling to provide additional funding to the Company on commercially reasonable terms or at all. Based on these factors, as of March 31, 2019, management determined that there is substantial doubt regarding the Company’s ability to continue as a going concern.
https://www.sec.gov/Archives/edgar/data/1292519/000155837019004777/nviv-20190331x10q.htm
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