Risk Factors Update Summary
- Incurred a net loss of $71.1 million in 2023, up from $35.2 million in 2022.
- Accumulated deficit increased from $61 million to $132 million as of December 31, 2023.
- Identified a material weakness in financial reporting for 2023, up from 2022.
- Federal net operating loss carryforward increased to approximately $128 million in 2023.
- Found a material weakness in internal controls for 2023, up from 2022 and 2021.
- Ownership change limitations under Section 382 of the Internal Revenue Code discussed.
- Potential delisting from NYSE due to non-compliance with minimum share price requirement.
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=1812173&owner=exclude
This content requires a 'Free' membership to view. Please create one here.
This content requires a 'Free' membership to view. Please create one here.