Risk Factors Update Summary
- Agreements for water resource development and filtration technology assets are uncertain, impacting revenue generation.
- Discussions with public water systems for 15,000 AFY and additional agreements for 25,000 AFY.
- New tranche of senior secured convertible term loans of $20,000,000 with a maturity date of June 30, 2027.
- Increased emphasis on cybersecurity risks, potential breaches, and regulatory consequences.
- Total indebtedness decreased from approximately $50 million to $38 million as of March 6, 2024.
- Increased authorized shares required for conversion of existing and new convertible loans.
- Quarterly cash interest payable at a 7% annual rate on $21.2 million of principal.
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=727273&owner=exclude
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