Langhorne, Pa., value-priced publisher eGames said in SEC filing ...
Langhorne, Pa., value-priced publisher eGames said in SEC filing it had stockholders’ equity of $346,000 and working capital of $301,000 as of Sept. 30, end of its first quarter. PC game publisher reported $213,000 profit for quarter and said…
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it “experienced $429,000 in negative cash flow… We believe that our projected cash and working capital may be sufficient to fund our operations through June 30, 2003, but there are significant challenges that we will need to successfully manage in order to be able to fund our operations through that period of time. These challenges include, but are not limited to: Agreeing to and maintaining acceptable payment terms with our vendors; increasing the speed of receivable collections from our customers; and maintaining compliance under the covenants set forth in the forbearance agreement [the company] negotiated with Fleet Bank.”