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Carson company has limited cash

NNBW Staff

Palomar Enterprises Inc., a publicly held company based in Carson City, said in an SEC filing that it had $1,127 cash on hand on June 30 and its auditors aren’t sure the company can survive.

The company’s executives said, however, they think the small amount of cash will tide them over until the company is able to generate greater revenues.

Palomar recently decided to enter the mortgage finance business.

The company moved to Carson City from Scottsdale, Ariz., during the second quarter and also opened an office in the San Diego area in recent months.