Internet researcher Jupiter Media Metrix expects to run out of operating cash in the middle of the second quarter, according to audit reports noted in its regulatory filing Monday. According to the filing, its auditors have issued a "going concern" opinion, which says that because of operating losses and working capital deficiency, "there is substantial doubt about our ability to continue as a going concern." The company said it has retained a financial adviser to explore strategic alternatives, including securing a loan or selling the company.
The report comes two months after competitor NetRatingsits proposed acquisition of the company because of scrutiny from the Federal Trade Commission. Jupiter faces delisting from the Nasdaq Stock Market on June 26.