Risk Factors Update Summary
- The net loss decreased from $12 million in 2022 to $7 million in 2023.
- The accumulated deficit decreased from $39 million in 2022 to $30 million in 2023.
- The number of customers accounting for most revenues increased from two to three in 2021.
- Pending patent applications increased significantly from the date of the report.
- The loss from foreign currency translation decreased from $183 thousand in 2022 to $105 thousand in 2023.
- The number of issued patents related to products and technology increased significantly.
- The Company identified material weaknesses in internal controls over financial reporting.
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=1718939&owner=exclude
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