Risk Factors Update Summary
- Net losses decreased significantly from $172.4 million in 2021 to $10.3 million in 2023.
- Net income decreased from $183 million in 2021 to $112 million in 2023.
- Stockholders' equity decreased from $35 million in 2022 to $29 million in 2023.
- Addition of disclosure on significant lawsuits, including patent or stockholder litigation, increases legal risk exposure.
- A significant increase in Rubric Capital Management LP's ownership from 18% to 25%.
- Increase in common stock available for sale upon lock-up agreement expiration.
- Federal net operating loss carryforwards decreased from $640 million to $577 million in 2023.
- Inclusion of effects of natural or man-made catastrophic events or business interruptions.
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=25743&owner=exclude
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