June 29, 2020 / 7:55 PM / 12 days ago

BRIEF-Boqi International Medical Believes Factors Raise Substantial Doubt About Co's Ability To Continue As Going Concern

June 29 (Reuters) - BOQI International Medical Inc:

* BOQI INTERNATIONAL MEDICAL ANNOUNCES FIRST QUARTER 2020 FINANCIAL RESULTS

* BOQI INTERNATIONAL MEDICAL- DUE TO CHINESE GOVERNMENT’S LOCKDOWN ORDER, CUSTOMER TRAFFIC DROPPED GREATLY

* BOQI INTERNATIONAL MEDICAL - BELIEVES FACTORS RAISE SUBSTANTIAL DOUBT ABOUT CO’S ABILITY TO CONTINUE AS A GOING CONCERN FOR NEXT 12 MONTHS

* BOQI INTERNATIONAL MEDICAL - CONTINUES TO GENERATE OPERATING LOSSES AND HAS LIMITED CASH FLOW FROM ITS CONTINUING OPERATIONS

* BOQI INTERNATIONAL MEDICAL- EXPECT TO CONTINUE TO INCUR ADDITIONAL COSTS, WHICH MAY BE SIGNIFICANT

* BOQI INTERNATIONAL MEDICAL - COVID-19 CAUSED SUPPLY CHAIN DISRUPTION WHICH RESULTED IN HIGHER SUPPLY CHAIN COSTS

* BOQI INTERNATIONAL MEDICAL - EXPERIENCED RESTRICTED STOCK AVAILABILITY IN NUMBER OF KEY CATEGORIES

* BOQI INTERNATIONAL MEDICAL- MAY FACE DELAYS OR DIFFICULTY SOURCING CERTAIN PRODUCTS WHICH COULD NEGATIVELY IMPACT CO

* BOQI INTERNATIONAL MEDICAL - CERTAIN POPULAR AND HIGH PROFIT MARGIN PRODUCTS COULD NOT BE SOLD

* BOQI INTERNATIONAL MEDICAL - AT MARCH 31, CO HAD CASH OF $175,865, NEGATIVE WORKING CAPITAL OF $6,008,248

* BOQI INTERNATIONAL MEDICAL - CONTINUES TO GENERATE OPERATING LOSSES, HAS LIMITED CASH FLOW FROM CONTINUING OPERATIONS Source text for Eikon: Further company coverage:

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