Item 1A. Risk Factors
Item
1A. Risk Factors
As
a smaller reporting company, we are not required to provide disclosure pursuant to this item in this Form 10-Q. However, as of the date
of this Quarterly Report, other than as set forth below, there have been no material changes with respect to those risk factors previously
disclosed under “Risk Factors” included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as
filed with the Securities and Exchange Commission on March 15, 2024 (the “Form 10-K”). The following should be carefully
considered, together with other information in this Quarterly Report on Form 10-Q, our Form 10-K, and our other filings with the SEC
before making investment decisions regarding our common stock.
There is substantial doubt about our ability
to continue as a “going concern.”
In connection with our assessment
of going concern considerations under applicable accounting standards, the Company’s management has determined that substantial
doubt exists about our ability to continue as a going concern through approximately one year from the date the unaudited condensed financial
statements included in Item 1. “Financial Statements” were issued. The future viability of the Company is dependent on its
ability to continue to execute its growth plan and raise additional capital or find alternative methods of financing to fund its operations.
There can be no guarantee that the actions presently being taken by the Company will be successful in raising additional capital or finding
alternative methods of financing. If the Company is not successful in these endeavors, it would likely have a material adverse effect
on the Company’s business, results of operations and financial condition.
For additional discussion of the risks and uncertainties that affect our
business, see “Item 1A. Risk Factors” included in our Form 10-K.
Item
2. Unregistered Sales of Equity Securities and Use of Proceeds
None
Item
3. Defaults Upon Senior Securities
None.
Item
4. Mine Safety Disclosures
Not
Applicable.
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