Risk Factors Update Summary
- Auditors expressed substantial doubt about ability to continue as a going concern. Cash: $1.0 million to $1.5 million.
- Cash resources expected to fund operating plans into the third quarter of 2023 to 2024.
- Net losses: $4,950,290 to $7,605,068 for the years ended December 31, 2022 and 2023.
- Accumulated deficit: $39,907,281 to $44,101,526 as of December 31, 2023.
- Full-time employees: 74 to 43 as of December 31, 2023.
- Issued a warrant exercisable for 173,200 shares to White Lion, causing potential dilution.
- Sales to White Lion under the Equity Line Purchase Agreement may result in substantial dilution.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1635077&owner=exclude
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