Risk Factors Update Summary
- Fluctuating operating results may significantly impact stock value. Quarterly and annual results may vary.
- The GDPR was replaced by the China Personal Information Law (PIPL).
- Annual losses decreased from $96.7 million in 2022 to $57.7 million in 2023.
- Identified four material weaknesses in internal controls; two weaknesses were remediated by December 31, 2023.
- Identified material weaknesses in internal controls related to inventory valuation and property & equipment.
- Our intellectual property rights may be affected, potentially preventing product sales.
- Identified material weaknesses in internal controls; remediation efforts ongoing to prevent misstatements.
- Accumulated deficit decreased from $402 million in 2022 to $434.5 million in 2023.
- Legal costs for patent litigation are very costly and time-consuming, impacting financial resources.
- Increased investment in technology development and market penetration may lead to significant losses.
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=1503274&owner=exclude
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