Risk Factors Update Summary
- Shares could be delisted from Nasdaq Capital Market due to non-compliance with listing standards.
- Accumulated deficit increased from $39.4 million to $47 million as of December 31, 2023.
- Operating expenses expected to increase as losses of $6.3 million in 2023 were incurred.
- Reverse stock split implemented to meet Nasdaq's minimum bid price requirement.
- Received a credit line agreement of up to $1.5 million to increase operating liquidity.
- Telco customer revenue decreased from 35% to 27% of total revenue in 2023.
- Increased efforts in internal controls remediation plan to ensure compliance with Sarbanes-Oxley Act.
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=1141284&owner=exclude
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