Note 2. Liquidity

At December 31, 2018, the Company had cash and cash equivalents of $42.1 million and working capital of $40.8 million. The Company has historically incurred recurring operating losses, and has experienced net cash used in operating activities of $8.6 million for the six months ended December 31, 2018 which raise substantial doubt about the Company’s ability to continue as a going concern within one year after the issuance date. However, as of January 28, 2019, the Company had $40.7 million of cash and cash equivalents which alleviated any substantial doubt about the Company’s ability to continue as a going concern. These funds will be used to fund the Company’s operations, including capital expenditures, R&D, commercialization of our technology, development of our patent strategy and expansion of our patent portfolio, as well as to provide working capital and funds for other general corporate purposes. These funds are expected to be sufficient to fund our operations beyond the next twelve months from the date of filing of this Form 10-Q.