Risk Factors Update Summary
- Net losses increased significantly from $51 million to $82 million in 2022.
- Additional losses expected due to delays in fund raising activities and redemptions.
- Stock price closed below $1.00, impacting compliance with NYSE listing requirements.
- Restated financial statements due to material weaknesses, impacting accuracy and investor confidence.
- Potential delisting risk due to non-compliance with NYSE listing requirements.
- Increased costs incurred due to restatement of financial statements and related disclosures.
- Uncertainty about ability to continue as a going concern due to operating losses and negative cash flows.
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=1907982&owner=exclude
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