18 unchanged sentences
In order to become profitable, we must significantly increase our revenues.
−Removed: Although our revenues are increasing through sales of our private-label products and from our engineering division, we expect to continue to use cash for the foreseeable future as it becomes available, and expect to continue to need to sell our securities to fund operations.
−Removed: Our auditor’s report for the year ended December 31, 2023, includes an explanatory paragraph in their audit opinion stating that our recurring losses from operations and working capital deficiency raise substantial doubt about our ability to continue as a going concern.
+Added: Although our revenues are increasing through sales of our private-label products and from our engineering division, we expect to continue to use cash for the foreseeable future as it becomes available to advance our developing technologies, ramp up staffing to accommodate growth and increase support infrastructure for our growing business, and expect to continue to need to sell our securities to fund operations.
+Added: Our auditor’s report for the year ended December 31, 2024, includes an explanatory paragraph in their audit opinion stating that our recurring losses from operations raise substantial doubt about our ability to continue as a going concern.
We do not currently have sufficient financial resources to fund our operations or those of our subsidiaries.
4 unchanged sentences
Thus, while we have been able to rely on private investments in the past, we may not be able to do so in the near future.
−Removed: During the year ended December 31, 2023, we received net proceeds of $4,600,000 through sales of our securities, both directly and through our subsidiaries.
−Removed: These sales are dilutive to our existing stockholders, and the stockholders of our subsidiaries.
+Added: During the year ended December 31, 2024, we (i) sold $260,000 of our common stock to Lincoln Park Capital Fund, LLC (“Lincoln Park”) (see Note 3), (ii) sold $334,000 of our common stock and warrants to accredited investors (see Notes 3 and 6), (iii) sold $2,005,000 of Clyra common stock (see Note 10), and $50,000 from the sale of BETI common stock (see Note 9).
+Added: These are dilutive to our existing stockholders, and the stockholders of our subsidiaries.
We intend to continue these financing activities and thus intend to continue to dilute existing and future stockholders.
26 unchanged sentences
In the year ended December 31, 2024, one customer selling our pet odor control products under a private label accounted for 77% of our total revenue.
−Removed: In the prior year, that one customer made up approximately 50% of our total revenue.
+Added: In the prior year, that one customer accounted for 82% of our total revenue.
A disruption in our relationship with this customer would adversely affect our results of operations.
11 unchanged sentences
We predict that at some level we may face delays and or extended delivery times for systems sold to clients and that could lead to delays in our anticipated growth.
−Removed: We need to outsource and rely on third parties for the manufacture of the chemicals, material components or delivery apparatus used in our technology and products, and part of our future success will be dependent on the timeliness and effectiveness of the efforts of these third parties.
−Removed: We do not have the required financial and human resources or capability to manufacture the chemicals necessary to make our odor control products.
−Removed: Our business model calls for the outsourcing of the manufacture of these chemicals in order to reduce our capital and infrastructure costs as a means of potentially improving our financial position and the profitability of our business.
−Removed: Accordingly, we must enter into agreements with other companies that can assist us and provide certain capabilities, including sourcing and manufacturing, which we do not possess.
−Removed: We may not be successful in entering into such alliances on favorable terms or at all.
−Removed: Even if we do succeed in securing such agreements, we may not be able to maintain them.
−Removed: Furthermore, any delay in entering into agreements could delay the development and commercialization of our technology or reduce its competitiveness even if it reaches the market.
−Removed: Any such delay related to such future agreements could adversely affect our business.
−Removed: While we have been able to secure materials and supplies like plastic containers through the COVID-19 crisis, we have not assurances that our ability to purchase in large quantities on a continual basis.
−Removed: If any party to which we have outsourced certain functions fails to perform its obligations under agreements with us, the commercialization of our technology could be delayed or curtailed.
−Removed: To the extent that we rely on other companies to manufacture the chemicals used in our technology, our products, or sell or market products incorporating our technology, we will be dependent on the timeliness and effectiveness of their efforts.
−Removed: If any of these parties does not perform its obligations in a timely and effective manner, the commercialization of our technology could be delayed or curtailed because we may not have sufficient financial resources or capabilities to continue such efforts on our own.
+Added: Tariffs on imported goods may adversely affect prices of our raw materials.
We rely on a small number of key supply ingredients in order to manufacture our odor control products, including CupriDyne Clean and our private-label products.
2 unchanged sentences
If our manufacturing costs rise significantly, we may be forced to raise the prices for our products, which may reduce their acceptance in the marketplace.
−Removed: Given the current delays in supply chain delivery on a global scale, we are anticipating and developing strategies to manage the expected increases in our cost of raw goods and potential supply limitations which could impact our business and results of operations.
+Added: If any party to which we have outsourced certain functions fails to perform its obligations under agreements with us, the commercialization of our technology could be delayed or curtailed.
+Added: To the extent that we rely on other companies to manufacture the chemicals used in our technology, our products, or sell or market products incorporating our technology, we will be dependent on the timeliness and effectiveness of their efforts.
+Added: If any of these parties does not perform its obligations in a timely and effective manner, the commercialization of our technology could be delayed or curtailed because we may not have sufficient financial resources or capabilities to continue such efforts on our own.
If our technology or products incorporating our technology do not gain market acceptance, it is unlikely that we will become profitable.
119 unchanged sentences
When weather patterns are cold or in times of precipitation, our clients are less prone to use our odor control products, presumably because such vapors are less noticeable or, in the case of precipitation, can be washed away or altered.
−Removed: This leads to unpredictability in use and sales patterns for, especially, our CupriDyne Clean product line which accounts for over one-half our total sales.
+Added: This leads to unpredictability in use and sales patterns for, especially, our CupriDyne Clean product line which accounts for 77% of our total revenue.
There may be battery technologies that we are not aware of, and some of them may be subject to patent applications.
32 unchanged sentences
The occurrence of any of these events could adversely affect our reputation, competitive position, business, results of operations and cash flows.
−Removed: While we have a cybersecurity program expenses, damages and claims arising from cybersecurity incidents cause a material adverse effect on our business.
+Added: While we have a cybersecurity program, expenses, damages and claims arising from cybersecurity incidents could cause a material adverse effect on our business.
Cybersecurity for additional details on our cybersecurity program.
−Removed: Because of high inflation and increased Federal Reserve interest rates in response, and world events, the effect on the capital markets and the economy is uncertain, and we may have to deal with a recessionary economy and economic uncertainty.
−Removed: Certain events have affected the global and United States economy including continued inflation, Federal Reserve interest rate increases in response, substantial increases in the prices of oil and gas, dramatic declines in the capital markets, and world events such as Russia’s invasion of Ukraine and other world power’s developing response to the invasion.
−Removed: The duration of Russia’s war and its impact are at best uncertain.
−Removed: The economy appears to be headed into a recession with uncertain and potentially severe impacts upon public companies and us.
−Removed: We cannot predict how this will affect the market for our products and services, but the impact may be adverse.
−Removed: The global banking system has recently come under increased pressure and uncertainty about every bank’s ability to maintain solvency in times of crisis and when a ‘run on the bank’ occurs.
−Removed: While the US Government has taken action to stabilize the current banking situation, it is not possible to predict the future and the psychology of the market can be fickle and unpredictable.
−Removed: Our company is not exposed to the risk associated with smaller regional banks like Silicon Valley Bank, but we do maintain balances in excess of the $250,000 FDIC insurance level, at large money center banks and as such should the actions taken by the US Government fail to mitigate the situation, impacts could extend to the largest banks in the world, including ours.
+Added: Economic uncertainties and domestic or world events and policies may adversely affect our business and operations.
+Added: Domestic and world events continue to create economic uncertainties, including the wars in Gaza and the Ukraine, international trade policies, including tariffs, and inflationary pressures.
+Added: The Federal Reserve could raise interest rates in the United States in response to price inflation.
+Added: Any myriad of factors could cause a sharp downward correction in stock market.
+Added: We cannot predict how the foregoing factors will affect the market for our products and services, but the impact may be adverse.
A recession in the United States may affect our business.
10 unchanged sentences
Our common stock is thinly traded and largely illiquid.
−Removed: Our stock is currently quoted on the OTC Markets (OTCQB).
−Removed: Being quoted on the OTCQB has made it more difficult to buy or sell our stock and from time to time has led to a significant decline in the frequency of trades and trading volume.
−Removed: Continued trading on the OTCQB will also likely adversely affect our ability to obtain financing in the future due to the decreased liquidity of our shares and other restrictions that certain investors have for investing in OTCQB traded securities.
+Added: Our stock is currently quoted on the OTC Markets (OTCQX).
+Added: Although it is the highest level platform on the OTC Markets, it is not a national exchange, which can prevent institutional investors from trading in our stock, and results in a lower frequency of trades and trading volume than stocks quoted on a national exchange.
+Added: Continued trading on the OTCQX may also adversely affect our ability to obtain financing in the future due to the decreased liquidity of our shares and other restrictions that certain investors have for investing in securities not traded on a national exchange.
While we intend to seek listing on the Nasdaq Stock Market (“Nasdaq”) or another national stock exchange when our company is eligible, there can be no assurance when or if our common stock will be listed on Nasdaq or another national stock exchange.
+Added: Until then, we expect our stock to remain volatile and lack the liquidity of larger companies.
The market price of our stock is subject to volatility.
42 unchanged sentences
Our stockholders face further potential dilution in any new financing.
−Removed: During the year ended December 31, 2023, we issued approximately 14.5 million shares of common stock.
+Added: During the year ended December 31, 2024, we sold approximately 2.6 million shares of common stock.
Our private securities offerings typically offer convertible securities, including notes and warrants.
20 unchanged sentences
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.