GLGI · Greystone Logistics, Inc. · Proposed Sales

Substantial doubt about the company's ability to continue as a going concern.

“Management has evaluated these conditions and events and determined that, although its plans may improve liquidity and operating performance, the successful execution of those plans depends on replacing a substantial portion of the lost customer revenue and obtaining continued lender support. Because it is unclear whether the Company will be successful in accomplishing these objectives, management cannot conclude that it is probable that its plans will alleviate these conditions. Accordingly, management has concluded that substantial doubt exists regarding the Company's ability to continue as a going concern within one year after the date these consolidated financial statements are issued.”