"We have continued to experience substantial losses from operations," the company states. "These factors raise substantial doubt about our ability to continue as a going concern." Zedlitz seeks to put the warning in context, noting that many small companies in capital-intensive industries have to include similar language in their financial reporting. He says GreenHunter has focused on near-term revenue and cash flow, and has recently cut its staff from a high of about 60 people to 25, in addition to trimming expenses and delaying capital projects.