Kodak says conditions raise doubt about ability to continue as a going concern

Kodak (KODK) said its plans to adequately fund its preferred stock and debt obligations when they become due are to use the proceeds from the expected reversion of cash to the Company upon settlement of obligations under the Kodak Retirement Income Plan to reduce the amount of term debt and to amend, extend or refinance its remaining debt and preferred stock obligations. These plans are not solely within Kodak’s control and therefore are not deemed “probable” under U.S. GAAP accounting rules. As a result, these conditions raise substantial doubt about the Company’s ability to continue as a going concern as of the issuance date of the Company’s second quarter financials.