What changed in this filing

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Item 1A. Risk Factors

2025-08-18 compared with 2025-05-12 · 26 added, 28 removed, 9 unchanged (86% of the section changed)

1 unchanged sentence

addition to the information set forth under Item 1A of Part I in our Annual Report on Form 10-K for the year ended December 31, 2024,

and under a similar item in subsequent periodic reports, the information set forth at the beginning of Management’s Discussion and

Analysis entitled “Special Note Regarding Forward-Looking Information,” and updates noted below, you should consider that

there are numerous and varied risks, known and unknown, that may prevent us from achieving our goals.

If any of these risks actually occur,

our business, financial condition or results of operation may be materially and adversely affected.

In such case, the trading price of

our common stock could decline and investors could lose all or part of their investment.

These risk factors may not identify all risks

that we face and our operations could also be affected by factors that are not presently known to us or that we currently consider to

be immaterial to our operations.

We have a history of annual

and quarterly net losses which may continue and which may negatively impact our ability to achieve our business objectives.

We have experienced annual and

quarterly net losses which may continue and which may negatively impact our ability to achieve our business objectives.

We incurred a

net loss of approximately $21 million for the three months ended March 31, 2025.

As of March 31, 2025, we had net working capital of approximately

and under a similar item in subsequent periodic reports, the information set forth at the beginning of Management’s Discussion

and Analysis entitled “Special Note Regarding Forward-Looking Information,” and updates noted below, you should consider

that there are numerous and varied risks, known and unknown, that may prevent us from achieving our goals.

If any of these risks actually

occur, our business, financial condition or results of operation may be materially and adversely affected.

In such case, the trading

price of our common stock could decline and investors could lose all or part of their investment.

These risk factors may not identify

all risks that we face and our operations could also be affected by factors that are not presently known to us or that we currently consider

to be immaterial to our operations.

have a history of substantial net losses and expect losses to continue in the future;

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 approximately $32 million for the quarter ended June 30, 2025.

As of June 30, 2025, we had net working capital of approximately

$40 million and an accumulated deficit of approximately $788 million.

We have not yet achieved profitability.

If 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.

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 it in subsequent periods.

Whether we can achieve cash flow

levels sufficient to support our operations cannot be accurately predicted.

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.

UNREGISTERED SALES

OF EQUITY SECURITIES AND USE OF PROCEEDS

Such additional funding may not

be available on commercially reasonable terms, or at all.

Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities.

DEFAULTS UPON SENIOR SECURITIES

MINE SAFETY DISCLOSURES.

Not applicable.

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