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Risk Factors Update Summary
- Our recurring losses and negative operating cash flows raise substantial doubt about our ability to continue as a going concern unless we can increase our revenues or raise additional capital.
- In July 2023, we commenced a significant reduction-in-force, reducing our workforce by approximately 41%, which could disrupt operations.
- We experienced a net loss of $21.9 million during the year ended December 31, 2023, compared to $18.9 million in 2022.
- We have identified a material weakness in our internal controls over financial reporting as of December 31, 2023, which may adversely affect investor confidence.
- To regain compliance with Nasdaq’s requirements, we intend to seek stockholder approval for a reverse stock split, which may not stabilize our stock price.
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=1389002&owner=exclude
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