FRMI · Fermi Inc.

The latest filing states the doubt was alleviated.

“Considered in the aggregate and before consideration of management's plans, these conditions raise substantial doubt about the Company's ability to continue as a going concern within that period. In order to alleviate the substantial doubt, the Company has approved and undertaken several measures. Based on the magnitude and timing of available draws under the Yorkville Note, the Company's cash on hand and restricted cash, undrawn capacity under the Company's existing committed equipment financing facilities, and the Company's ability to sequence capital expenditures to align with the execution of definitive tenant agreements and associated project financing, management has concluded that (i) it is probable that the Company's plans will be effectively implemented within twelve months following the issuance of these unaudited condensed consolidated financial statements and (ii) it is probable that those plans, when implemented, will mitigate the conditions and events that raise substantial doubt. Accordingly, management has concluded that its plans alleviate the substantial doubt about the Company's ability to continue as a going concern within that period, and these unaudited condensed consolidated financial statements have been prepared on a going concern basis.”