What changed in this filing

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Item 1A. Risk Factors

2026-05-11 compared with 2025-11-07 · 20 added, 29 removed, 14 unchanged (78% of the section changed)

13 unchanged sentences

if we do not achieve and sustain profitability,

our financial condition could suffer, and we have concluded that substantial doubt exits about our ability to continue as a going concern.

have experienced substantial net losses, and we expect to continue to incur substantial losses for the foreseeable future.

net losses of $86 for the quarter ended September 30, 2025.

As of September 30, 2025, we had net working capital

of $36,752 and an accumulated deficit of $788,607.

Our total comprehensive income of $6,707 for the three months ended September 30, 2025 was the result

of non-cash foreign currency translation adjustments.

We have not yet achieved profitability.

our revenue grows slower than we anticipate, or if our operating expenses are higher than we expect, we may not be able to achieve profitability,

and our financial condition could suffer.

We can give no assurance that we will ever achieve profitable operations.

Even if we achieve

profitability in the future, we may not be able to sustain profitability in subsequent periods.

Whether we can achieve cash flow levels

sufficient to support our operations cannot be accurately predicted.

We may need to borrow additional funds or sell our debt or equity

securities, or some combination of both, to provide funding for our operations in the future.

Such additional funding may not be available

on commercially reasonable terms, or at all.

In addition, the United States federal government

is currently experiencing a shutdown.

A prolonged government shutdown could have a negative impact on our business.

Such a shutdown could

disrupt our supply chain, delay required government approvals, restrict our ability to access capital markets and negatively impact consumer

and investor confidence, all of which could have a material adverse effect on our business, prospects, financial condition, results of

operations and cash flows.

SALES OF EQUITY SECURITIES, USE OF PROCEEDS, AND ISSUER PURCHASES OF EQUITY SECURITIES.

UPON SENIOR SECURITIES

SAFETY DISCLOSURES.

our financial condition could suffer.

have experienced annual and quarterly net losses which may continue and which may negatively impact our ability to achieve our business

We incurred a net loss of approximately $11.6 million for the three months ended March 31, 2026.

As of March 31, 2026, we

had net working capital of approximately $14 million and an accumulated deficit of approximately $834 million.

We have not yet achieved

profitability.

our revenues grow slower than we anticipate, or if our operating expenses are higher than we expect, we may not be able to achieve profitability

on an annual or quarterly basis in the future and our financial condition could suffer.

We can give no assurance that we will ever achieve

profitable operations.

Even if we achieve profitability in the future, we may not be able to sustain it in subsequent periods.

we can achieve cash flow levels sufficient to support our operations cannot be accurately predicted.

We may need to borrow additional

funds or sell our debt or equity securities, or some combination of both, to provide funding for our operations in the future.

Such additional

funding may not be available on commercially reasonable terms, or at all.

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

DEFAULTS UPON SENIOR SECURITIES

MINE SAFETY DISCLOSURES.

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.

What changed 10-Q

Item 1A. Risk Factors