Risk Factors Update Summary
- The company may not be able to pay liabilities and obligations when due, with accumulated deficit increasing from $319.7 million to $339.9 million.
- Negative cash flow from operations increased from $19.1 million to $17.2 million for the year ended December 31, 2022.
- Stockholders' deficit increased from $0 to $2.3 million as of December 31, 2023.
- Shares sold through the Open Market Agreement decreased from 189,411 to 3,409 shares.
- Gross proceeds from private placements decreased from $9.6 million to $6.1 million.
- Revenue recorded as $31.9 million decreased to $175 for the year ended December 31, 2022.
- Executive officers and directors beneficially owned approximately 51% of outstanding common stock.
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=1205922&owner=exclude
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