Risk Factors Update Summary
- Accumulated deficit increased from $125 million to $145 million, impacting financial condition significantly.
- Raised $11.8 million in net proceeds from issuance of common stock, impacting liquidity.
- Increased availability of incremental capital from $10 million to $5 million, affecting future operations.
- Employee distribution changed from 4% to 11% in India, impacting operational structure.
- Sales cycle length increased, affecting revenue predictability and operational efficiency.
- Identified material weakness in internal control over financial reporting, impacting governance.
- Ownership position by Redmile Group LLC potentially increasing to approximately 40.7%, affecting control.
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=1769804&owner=exclude
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