Risk Factors Update Summary
- Net losses increased from $51.0 million to $53.4 million in 2022.
- Forecasted commercial production delayed from 2025 to 2027.
- Uncertainty in UAM market growth and Li-Metal technology adoption poses business risks.
- Accumulated deficit rose from $145.3 million to $198.7 million through 2023.
- Potential unworkability of Li-Metal technology in EVs could eliminate investment value.
- Production timeline shifted: B-Sample batteries in 2024, C-Sample batteries in 2026, and commercial production in 2027.
- Failure of Li-Metal batteries in UAM applications could adversely impact financials and prospects.
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=1819142&owner=exclude
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