−Removed: Risk Factors” of our annual report on Form 10-K for the year ended December 31, 2023 includes a discussion of our risk factors.
−Removed: “Risk Factors” in our Form S-4/A filed on February 2, 2024 includes additional risk factors related to the Merger transaction.
−Removed: There is no assurance when or if the merger will be completed.
−Removed: If our pending merger agreement with Firefly Neuroscience, Inc.
−Removed: fails to close, we will likely be delisted from Nasdaq under its minimum stockholders’ equity requirements, which will affect the liquidity of our common stock.
−Removed: Additionally, we face working capital deficits that will force us to make fundamental decisions as to how to proceed with our business.
−Removed: We will consider all of our options, including, but not limited to, ceasing to be a reporting company (which would reduce our operating expenses significantly), raising capital through private placement (which could be highly dilutive), transferring to the OTC Market, seeking another merger partner (which may be difficult if we are delisted from Nasdaq), or selling our business to satisfy our liabilities and dissolving.
−Removed: To pursue any strategy under which we continue operations, we will need to significantly reduce our expense structure and raise capital.
−Removed: There have been no other material changes from the risk factors described in our annual report on Form 10-K for the year ended December 31, 2023.
−Removed: Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: Defaults Upon Senior Securities
−Removed: Mine Safety Disclosures
−Removed: Not applicable
+Added: The following description of risk factors includes any material changes to risk factors associated with our business, financial condition and results of operations previously disclosed in “Item 1A.
+Added: Risk Factors” of our annual report on Form 10-K for the year ended December 31, 2023, and in the “Risk Factors” section in our registration statement on Form S-4/A filed on February 2, 2024, which includes additional risk factors related to the Merger.
+Added: Our business, financial condition and operating results can be affected by a number of factors, whether currently known or unknown, including but not limited to those described below, any one or more of which could, directly or indirectly, cause our actual financial condition and operating results to vary materially from past, or from anticipated future, financial condition and operating results.
+Added: Any of these factors, in whole or in part, could materially and adversely affect our business, financial condition, operating results, and stock price.
+Added: The following discussion of risk factors contains forward-looking statements.
+Added: These risk factors may be important to understanding other statements in this Form 10-Q.
+Added: The following information should be read in conjunction with the condensed consolidated financial statements and related notes in Part I, Item 1, “Financial Statements” and Part I, Item 2, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of this Form 10-Q.
+Added: We may not continue to meet the continued listing requirements of the Nasdaq Capital Market, which could result in a delisting of our common stock.
+Added: Our common stock is listed on the Nasdaq Capital Market.
+Added: While we are currently in compliance, we have in the past been, and may in the future be, unable to comply with certain of the listing standards that we are required to meet to maintain the listing of our common stock on Nasdaq.
+Added: For instance, on August 8, 2024, we received a letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC (the “Staff”) indicating that in the former WaveDancer’s Quarterly Report on Form 10-Q filed with the SEC on May 14, 2024, WaveDancer reported stockholders’ equity of $1,708,520 for the period ended March 31, 2024, which did not comply with Listing Rule 5550(b)(1) (the “Minimum Stockholders’ Equity Requirement”).
+Added: Additionally, as previously reported, in a decision dated November 14, 2023, a Nasdaq Hearings Panel (the “Panel”) confirmed that we had regained compliance with the Minimum Stockholders’ Equity Requirement for a prior outstanding deficiency under the Minimum Stockholders’ Equity Requirement as related to the former WaveDancer’s stockholders’ equity for the period ended March 31, 2023.
+Added: In the decision, the Panel imposed a Mandatory Panel Monitor for a period of one year or until November 14, 2024, which would require the Staff to issue a Delist Determination Letter in the event that WaveDancer failed to maintain compliance with the Minimum Stockholders’ Equity Rule.
+Added: On August 13, 2024, we received a notice from the Nasdaq Stock Market LLC indicating that following the Staff’s review of the Merger, the Staff determined that we now comply with the Minimum Stockholders’ Equity Requirement and that the matter is now closed.
+Added: While we have regained compliance with the continued listing requirements for Nasdaq, it cannot be assured that we will continue to do so.
+Added: If Nasdaq delists our common stock from trading on its exchange for failure to meet the listing standards, an investor would likely find it significantly more difficult to dispose of or obtain our shares, and our ability raise future capital through the sale of our shares could be severely limited.
+Added: Delisting could also have other negative results, including the potential loss of confidence by employees, the loss of institutional investor interest and fewer business development opportunities.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.