Risk Factors Update Summary
- Accumulated deficit increased from $180 million to $198 million, impacting financial stability.
- Net loss attributable to common shareholders decreased from $66 million to $17 million.
- Identified material weakness in IT controls, risking network security and financial integrity.
- Completed wind-down in Portugal, reducing operational footprint and potentially affecting financials.
- Reverse share split may impact liquidity and compliance with Nasdaq listing requirements.
- Identified additional material weaknesses in financial reporting controls, requiring remediation efforts.
- Market price volatility observed with common shares, impacting shareholder value and trading activity.
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=1819615&owner=exclude
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