India, Aug. 12 -- Eastman Kodak, the 133-year-old photography pioneer, has issued a stark warning about its future, cautioning investors that it may not be able to continue operating.
In an SEC filing late Monday, the company said there is "substantial doubt" about its ability to remain a going concern due to mounting losses, shrinking liquidity, and looming debt obligations.
Once a household name in film and cameras, Kodak swung from a $25 million profit a year ago to a $26 million loss in its latest quarter. The company also burned through $46 million in cash, leaving just $155 million on hand, and faces about $500 million in debt coming due within 12 months without committed financing to cover it.
In a cost-cutting move, Kodak termina...