ZK International received 205,512.5 AWA tokens on July 30 to settle a $20.02 million equity-financing receivable. The tokens remained unmonetized and their receipt-date fair value was unresolved. The company held only $82,696 in cash as of March 31, representing approximately 0.12% of total assets of $66.44 million. ZK International reported a consolidated net loss of $17.02 million for the six months through March and an accumulated deficit of $68.28 million. Despite the token delivery, substantial doubt about the company’s ability to continue as a going concern remained.
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