Risk Factors Update Summary
- The accumulated deficit increased from $296 million to $316 million as of December 31, 2023.
- International sales decreased from 31% to 30% of net revenue for the fiscal year ended December 31, 2023.
- Net losses decreased from $28.6 million to $20.6 million for the year ended December 31, 2023.
- U.S. federal net operating loss carryforwards decreased from $110 million to $87.6 million as of December 31, 2023.
- Stockholders' equity fell below the minimum requirement, leading to a reverse stock split to regain compliance.
- Revenue from distributors decreased from 31% to 30% of total net revenue for the fiscal year ended December 31, 2023.
- The company faced delisting from the Nasdaq Capital Market due to bid price non-compliance.
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=811240&owner=exclude
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