Matternet says its cash may run out within a year

Matternet said in its quarterly report that management expects its existing cash resources to be depleted during the one-year period after the financial statements are issued, based on an operating plan that calls for higher spending on its next-generation platform and commercial deployment. The autonomous-drone delivery company said it plans to seek debt or equity financing and could defer expenditures, but neither sufficient financing nor reductions that would eliminate the shortfall is considered probable. Matternet therefore concluded that substantial doubt exists about its ability to continue as a going concern.