AUSI AURA SYSTEMS INC

"The inability to secure additional funding could result in the Company The cash flow generated from the Company's operations to date has not been sufficient to fund its working capital needs, and the Company does not expect that operating cash flow will be sufficient to fund its working capital needs in fiscal 2004."

distress relevance: 0.64 market specificity: 1.00 score: 0.644 mda

anchor: our cash reserves may be insufficient to fund operations

"The Company is seeking to raise additional capital; however, there can be no assurance that the Company will raise sufficient capital to fund ongoing operations."

distress relevance: 0.64 market specificity: 1.00 score: 0.642 mda

anchor: we may need to raise additional capital to fund operations

"Non-Operating Income and Expenses The Company incurred $0.8 million and $1.4 million of asset impairment charges in fiscal 2003 and fiscal 2002, respectively, primarily due to a decline in the value of non-core long-term investments."

distress relevance: 0.62 market specificity: 1.00 score: 0.623 mda

anchor: material impairment charges on our investment portfolio

"In fiscal 2001, impairment charges of $0.2 million resulted from a reserve against a long-term investment."

distress relevance: 0.59 market specificity: 1.00 score: 0.587 mda

anchor: material impairment charges on our investment portfolio

"As of May 31, 2003, the Company had cash The Company requires additional debt or equity financing to fund ongoing operations."

distress relevance: 0.58 market specificity: 1.00 score: 0.585 mda

anchor: our cash reserves may be insufficient to fund operations

"The limited availability of funds could have a material adverse effect on the Company's financial statements, results of operations and the ability to continue or expand operations."

distress relevance: 0.54 market specificity: 1.00 score: 0.539 mda

anchor: our cash reserves may be insufficient to fund operations

"In fiscal 2002, these asset impairment charges included non-core investments of $1.4 million, engineered tooling for Aura products amounting to $4.6 million, and trade credits of $3.1 million."

distress relevance: 0.54 market specificity: 1.00 score: 0.538 mda

anchor: material impairment charges on our investment portfolio

"The net cash used by operating activities in fiscal 2002 decreased by approximately $4.6 million from the prior year."

distress relevance: 0.53 market specificity: 1.00 score: 0.528 mda

anchor: cash and cash equivalents declined significantly

"The Company expects to fund any operating shortfall in the current fiscal year from cash on hand and third party financings in order to continue its operations."

distress relevance: 0.52 market specificity: 1.00 score: 0.523 mda

anchor: our cash reserves may be insufficient to fund operations

"The increase in the 2002 expense recognized was primarily due to non-cash charges incurred relative to the impairment of certain long-lived assets."

distress relevance: 0.52 market specificity: 1.00 score: 0.519 mda

anchor: material impairment charges on our investment portfolio