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Risk Factors Update Summary
- There is substantial doubt about our ability to continue as a going concern due to significant losses. Net losses were $4,791,466 in 2024 and $20,302,394 in 2023.
- The Company has an accumulated deficit of $85,443,697 in 2024 and $80,652,231 in 2023, raising concerns about financial stability.
- Nasdaq indicated the Company did not meet the minimum Market Value of Listed Securities of $35,000,000, risking delisting.
- The Company received a letter regarding the Minimum Bid Price Requirement, needing to regain compliance by February 18, 2025, or face potential delisting.
- The number of outstanding securities increased from 314 to 428, which could dilute existing shareholders' equity.
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=1610820&owner=exclude
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