Risk Factors Update Summary
- Operating losses increased from an accumulated deficit of $408 million in 2022 to $505 million in 2023.
- Net losses rose significantly from $98.7 million in 2020 to $288.4 million in 2021.
- Potential liabilities increased due to a demand for $10.2 million return payment in June 2023.
- Risks escalated with a $21 million claim statement in October 2023, subject to a $14 million cap.
- Increased risks due to ongoing disputes and uncertainties related to Russian contracts and demands.
- Risks heightened by potential impacts of ongoing Russian-Ukraine conflict on business operations.
- Risks increased due to uncertainties surrounding the resolution of contracts governed by Russian law.
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=1809987&owner=exclude
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