"These circumstances raise substantial doubt about the Company’s ability to continue as a going concern." Not Good!
2. Liquidity and Financial Condition
The Company’s cash and cash equivalents were $4,891,313 at June 30, 2016, compared with $14,178,902 at December 31, 2015. The Company continues to incur significant operating losses and management expects that significant on-going operating expenditures will be necessary to successfully implement the Company’s business plan and develop and market its products. These circumstances raise substantial doubt about the Company’s ability to continue as a going concern. Implementation of the Company’s plans and its ability to continue as a going concern will depend upon the Company’s ability to develop PV-10 and raise additional capital.
Fortunately for the Company and stockholders that management is raising the question (as they are required to do) of the "Company's ability to continue as a going concern." If the Company's auditors raised the issue there could be some serious consequences.
See for yourselves - Google "Company's ability to continue as a going concern."