Risk Factors Update Summary
- Accumulated deficit increased from $282 million to $505 million, with net losses rising.
- Current assets decreased from $25 million to $7 million, while current liabilities increased from $14 million to $5 million.
- Extended draw period to March 24, 2023, with no further draws available, evaluating various financing alternatives.
- Cash burn decreased from $35 million to $22.6 million, with capital spending reducing from $6 million to $0.
- Sold 2,656,464 shares generating net proceeds of $4.532 million, with no sales under the Security Agreement.
- Raised $10.285 million through a registered direct offering, with net proceeds of $9.785 million.
- Key personnel count decreased from 198 to 186, with potential higher labor costs expected.
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=1175151&owner=exclude
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