Risk Factors Update Summary
- Identified substantial doubt about ability to continue as a going concern due to liquidity of $75.1 million, net loss of $129.6 million, and accumulated deficit of $438.2 million.
- Enacted numerous data privacy laws, including CCPA with fines up to $7,500 per violation.
- Increased accumulated deficit from $385.3 million to $438.2 million, reflecting continued operating losses and negative cash flows.
- Facing delisting from NYSE due to non-compliance with average closing price requirements.
- Expanded patent portfolio from 8 issued U.S. patents and 22 pending U.S. patent applications to 12 issued U.S. patents and 12 pending U.S. patent applications.
- Stock and warrants trading on OTC market under symbols HLGN and HLGNW since November 8, 2023.
- Stock price volatility may impact investor confidence and employee retention, fluctuating between $0.52 and $26.25.
- Ability to redeem Public Warrants at $0.35 per warrant if stock price exceeds $18.63.
- Ability to redeem all warrants at $0.50 per warrant if stock price exceeds $10.35.
- Private and Public Warrants to purchase 244,762 shares of common stock currently exercisable.
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=1840292&owner=exclude
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