Risk Factors Update Summary
- Net loss increased from $234 million in 2022 to $821 million in 2023.
- Operating losses expected to continue through at least 2024, with negative cash flow.
- Goodwill impairment loss of $3,062,579 recognized in 2023 due to lower cash flows.
- Anticipate needing approximately $5.2 million for acquisitions and $0.7 million for marketing.
- Received notification of non-compliance with Nasdaq listing rule, facing potential delisting.
- Identified weaknesses in internal controls, not currently required to comply with internal control over financial reporting.
- Future sales and issuances of common stock could cause stock price decline.
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.
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