eMagin Corporation Receives Audit Opinion with Going Concern Qualification

Rhea-AI Summary

eMagin Corporation (NYSE American: EMAN) announced a going concern qualification in its recent Form 10-K for the year ending December 31, 2020. This qualification indicates potential financial instability and is mandated by NYSE American listing requirements. eMagin, a leader in OLED microdisplay technology, supports military and commercial applications including AR/VR devices. The company has a history of innovation with its proprietary Direct Patterning Technology. Investors should be aware of the implications of the audit opinion on the company’s financial health.

Positive

• eMagin is a leader in OLED microdisplay technology.
• The company serves critical markets, including military and healthcare.

Negative

• The going concern qualification raises doubts about the company's financial stability.

News Market Reaction – EMAN

-2.10%

-2.10% Session move

In the trading session that priced this news, EMAN declined 2.10%, reflecting a moderate negative market reaction.

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HOPEWELL JUNCTION, NY / ACCESSWIRE / April 13, 2021 / eMagin Corporation (NYSE American:EMAN), a leader in the development, design and manufacture of Active Matrix OLED microdisplays used in military and commercial AR/VR devices, and other near-eye imaging products, today announced that, as previously disclosed in its recently filed Form 10-K for the year ending December 31, 2020, the Company has received an audit opinion with a going concern qualification. This additional disclosure is required pursuant to NYSE American listing requirements.

About eMagin Corporation

eMagin is the leader in OLED microdisplay technology for the next generation of computing and imaging devices, serving world-class customers in the military, consumer, medical and industrial markets. The Company invents, engineers and manufactures display technologies of the future in the United States, including its proprietary Direct Patterning Technology (dPd™), which is designed to transform the way the world consumes information. Since 2001, eMagin's microdisplays have been used in AR/VR, aircraft helmets, heads-up display systems, thermal scopes, night vision goggles, future weapon systems and a variety of other applications. For more information, please visit www.emagin.com.

CONTACT

eMagin Corporation
Mark A. Koch
Acting Chief Financial Officer
845-838-7951
mkoch@emagin.com

Sharon Merrill Associates, Inc.
Nicholas Manganaro
eman@investorrelations.com
617-542-5300

SOURCE: eMagin Corporation

View source version on accesswire.com:
https://www.accesswire.com/640051/eMagin-Corporation-Receives-Audit-Opinion-with-Going-Concern-Qualification

FAQ

What does eMagin Corporation's going concern qualification mean for EMAN investors?

The going concern qualification suggests eMagin may face financial challenges, which could impact investor confidence.

When was the audit opinion with going concern qualification issued for eMagin Corporation?

The audit opinion was disclosed in eMagin's Form 10-K for the year ending December 31, 2020.

What sectors does eMagin Corporation serve?

eMagin serves military, consumer, medical, and industrial markets with its OLED microdisplay technology.

What is the primary technology eMagin is known for?

eMagin is known for its Active Matrix OLED microdisplays and proprietary Direct Patterning Technology.