Risk Factors Update Summary
- Certain energy storage products are still under development, facing challenges in scaling production.
- Expansion into international markets introduces risks related to regulatory compliance and tax liabilities.
- Delays in supply chain or raw material procurement could harm manufacturing and commercialization.
- Changes in tax laws eliminated the right to deduct research and development expenditures.
- Issuance of warrants to Honeywell Ventures and UOP for up to 10,631,633 and 6,269,955 shares, respectively.
- Limited deployment of second-generation S200 iron flow batteries may impact business success.
- Commissioning a new automation line may impact production costs and schedule.
- Increase in federal net operating loss carryforwards from $130 million to $166 million.
- Potential limitations on the utilization of net operating loss carryforwards due to ownership changes.
- Quality issues or delays in supply chain could further harm manufacturing and commercialization.
- Supply chain disruptions and inflation may impact product costs and operations.
- Introduction of a new non-deductible excise tax of 1% on certain share repurchases.
- The company does not expect to declare any dividends in the foreseeable future.
- Failure to meet performance specifications could lead to contract cancellations and revenue loss.
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=1819438&owner=exclude
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