In Form 10-K filed on August 6, 2015, Sunwin Stevia International, Inc.’s auditor, RBSM LLP, raised substantial doubt about the Company’s ability to continue as a going concern. According to RBSM, the Company has incurred recurring losses and generated negative cash flows from its operating activities. The Company has incurred a recurring net loss of $4,522,139 and incurred negative cash flows from operating activities of $379,764 for the year ended April 30, 2015. As of April 30, 2015, the Company has an accumulated deficit of $20,417,666, its cash and cash equivalents balance and its revenues generated are not currently sufficient and cannot be projected to cover operating expenses in the coming year. Read more on distressed companies.
About Kerry Mastroianni
Kerry Mastroianni, the editor of The Distressed Company Alert, has been researching distressed and bankrupt companies for over 18 years. As a 10-year employee of New Generation Research, she is also a data editor for Bankruptcy Week and the editor for our annual Bankruptcy Yearbook & Almanac. Prior to Kerry’s employment at NGR, she worked for eight years as a research analyst for KPMG’s corporate recovery practice.