Risk Factors Update Summary
- Net losses increased from $16.8 million in 2022 to $36.6 million in 2023.
- Cash and cash equivalents decreased from $12.4 million in 2022 to $3.4 million in 2024.
- Legal settlements reached in pending actions and derivative cases, subject to court approval.
- Insurance recovery receivable decreased from $0.9 million in 2022 to $0.5 million in 2024.
- Potential delisting from NYSE American and Exchange Act deregistration may impact stock price.
- Full-time employees reduced from eight in 2022 to five in February 2023.
- Volatility in common stock price expected to continue due to strategic alternatives process and delisting.
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=1411906&owner=exclude
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