GEVO Reports Removal of “Going Concern” Qualification in Latest Audit Report
02 April 2019 - 12:00AM
Gevo, Inc. (NASDAQ: GEVO) announced today that,
due to its improved balance sheet, the “going concern”
qualification in the audit report of Gevo’s independent registered
public accounting firm has been removed from the audited financial
statements for the year ended December 31, 2018. For the past
several years, the audit reports to Gevo’s consolidated financial
statements have included a “going concern” qualification.
Gevo’s consolidated audited financial statements for the year ended
December 31, 2018 were included as part of its Annual Report on
Form 10-K for the year ended December 31, 2018 that was filed
on March 28, 2019 with the U.S. Securities and Exchange
Commission.
This announcement does not represent any change or amendment to
Gevo’s consolidated, audited financial statements or to its Annual
Report on Form 10-K for the fiscal year ended December 31,
2018.
About Gevo
Gevo is a next generation “low-carbon” fuel company focused on
the development and commercialization of renewable alternatives to
petroleum-based products. Low-carbon fuels reduce the carbon
intensity, or the level of greenhouse gas emissions, compared to
standard fossil-based fuels across their lifecycle. The most common
low-carbon fuels are renewable fuels. Gevo is focused on the
development and production of mainstream fuels like gasoline and
jet fuel using renewable feedstocks that have the potential to
lower greenhouse gas emissions at a meaningful scale and enhance
agricultural production, including food and other related products.
In addition to serving the low-carbon fuel markets, through Gevo’s
technology, Gevo can also serve markets to produce chemical
intermediate products for solvents, plastics, and building block
chemicals. Learn more at our website: www.gevo.com
Forward-Looking Statements
Certain statements in this press release may
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements relate to a variety of matters,
including, without limitation, statements related to Gevo’s “going
concern” qualification, Gevo’s financial condition, Gevo’s ability
to continue as a going concern, and other statements that are not
purely statements of historical fact. These forward-looking
statements are made on the basis of the current beliefs,
expectations and assumptions of the management of Gevo and are
subject to significant risks and uncertainty. Investors are
cautioned not to place undue reliance on any such forward-looking
statements. All such forward-looking statements speak only as of
the date they are made, and Gevo undertakes no obligation to update
or revise these statements, whether as a result of new information,
future events or otherwise. Although Gevo believes that the
expectations reflected in these forward-looking statements are
reasonable, these statements involve many risks and uncertainties
that may cause actual results to differ materially from what may be
expressed or implied in these forward-looking statements. For a
further discussion of risks and uncertainties that could cause
actual results to differ from those expressed in these
forward-looking statements, as well as risks relating to the
business of Gevo in general, see the risk disclosures in the Annual
Report on Form 10-K of Gevo for the year ended December 31, 2018,
as amended, and in subsequent reports on Forms 10-Q and 8-K and
other filings made with the U.S. Securities and Exchange Commission
by Gevo.
Investor and Media Contact
Shawn M. Severson Integra Investor Relations +1 415-226-7747
gevo@integra-ir.com |
Gevo (NASDAQ:GEVO)
Historical Stock Chart
From Jun 2024 to Jul 2024
Gevo (NASDAQ:GEVO)
Historical Stock Chart
From Jul 2023 to Jul 2024