Risk Factors Update Summary
- Sold DERMAdoctor for $1.1 million, impacting cash reserves, with cash decreasing from $5 million to $3 million.
- Accumulated deficit increased from $158 million to $174 million, affecting financial condition.
- Recorded $2.6 million and $6.7 million impairment charges for goodwill and assets in 2023 and 2022.
- Issued additional shares, leading to significant dilution for stockholders, with over 30 million shares outstanding.
- Increased outstanding shares by 1,847,496, impacting ownership and dilution for existing shareholders.
- Potential delisting from NYSE American due to non-compliance, affecting stock liquidity and investor transactions.
- Series B Preferred Stock anti-dilution provision eliminated due to 75% conversion, impacting stock dilution.
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=1389545&owner=exclude
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