Risk Factors Update Summary
- Reverse stock split on October 30, 2023, issued one new share for every ten, regaining Nasdaq compliance.
- Delisting from Nasdaq due to failure to maintain listing requirements could trigger default.
- Customer concentration increased with one customer accounting for 22% of revenue in 2023.
- Goodwill impairment of $0.9 million related to Workforce Solutions segment as of September 30, 2023.
- Operating loss decreased from $14.4 million in 2022 to $6.8 million in 2023.
- Engineering segment revenue from Customer E increased from 13% in 2022 to 22% in 2023.
- Operating loss decreased from $14.4 million in 2022 to $6.8 million in 2023.
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=944480&owner=exclude
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