Kodak says it’ll figure things out and won’t shut down

In a regulatory filing connected Monday, Kodak warned investors that the 133-year-old photography institution didn’t person the financing it would request to pay astir $500 cardinal of indebtedness obligations that were coming due, raising doubts astir the company’s quality to continue.

But successful a connection shared with The Verge, Kodak says it plans to usage wealth from the company’s pension money to wage disconnected a ample information of its indebtedness earlier it comes due. “The “going concern” connection successful Kodak’s 10-Q is fundamentally required disclosure due to the fact that Kodak’s indebtedness comes owed wrong 12 months of the filing,” according to Denisse Goldbarg, Kodak’s CMO and Head of EAMER Sales.

If anything, Goldbarg says, Kodak volition extremity the process with “a stronger equilibrium expanse than we person had successful years.” Here’s Goldbarg’s afloat statement:

“Kodak is assured it volition beryllium capable to wage disconnected a important information of its word indebtedness good earlier it becomes due, and amend, widen oregon refinance our remaining indebtedness and/or preferred banal obligations. To money the repayment, we program to gully connected the astir $300 cardinal successful currency we expect to person from the reversion and colony of our U.S. pension money (the Kodak Retirement Income Plan, oregon “KRIP”) successful December. However, the KRIP reversion is not solely wrong Kodak’s power and truthful is not deemed “probable” nether U.S. GAAP accounting rules, which is what triggered the “going concern.” Once the KRIP reversion is completed Kodak volition beryllium virtually nett indebtedness escaped and volition person a stronger equilibrium expanse than we person had successful years.”