−Removed: The Company has experienced
−Removed: challenges within the global supply chain which has impacted the business in three key areas:
−Removed: (i) movement and/or delay in production
−Removed: schedules due to component shortages, (ii) continued delays to global shipping and receipt of goods and (iii) increased shipping costs
−Removed: which has reduced gross profit margin.
−Removed: In addition, there is presently a global silicon chip supply shortage that could potentially cause
−Removed: disruptions in our supply chain.
−Removed: While the Company’s business has not yet been affected by such disruption, in the event any of
−Removed: our suppliers experience such supply chain disruption, there is potential that such disruption could ultimately affect our ability to
−Removed: timely obtain and deliver finished goods and products.
−Removed: additional risk factors pertinent our business please refer to the Part I Item 1A of the Company’s 2020 Annual Report on
−Removed: Form 10-K, which is incorporated by reference herein.
−Removed: RECENT SALES OF UNREGISTERED EQUITY SECURITIES
−Removed: January 29, 2021, pursuant to an exemption from registration under Section 4(a)(2) of the Securities Act and Regulation D thereunder,
−Removed: the Company issued 793,375 shares of Class A common stock to Amagic Holographics Inc., an affiliate of K Laser Technology Inc.
−Removed: (“K Laser”) in exchange for cancellation of $1,983,436 in accounts payable owed by the Company to K Laser’s
−Removed: March 24, 2021 we entered into a share redemption and conversion agreement with the former Sahara Presentation Systems PLC (“Sahara”)
−Removed: shareholders.
−Removed: Under the agreement, the Company has an option to redeem and purchase from such preferred stockholders on or before
−Removed: June 30, 2021 all of the shares of Series B preferred stock for £11,508,495 (or approximately $15,876,084) being the stated
−Removed: or liquidation value of the Series B preferred stock plus (b) accrued dividends from January 1, 2021 to the date of purchase.
−Removed: In addition, the holders of 96% of the Series C preferred stock agreed to convert those shares into 7,630,699 shares of our Class
−Removed: A Common Stock at a conversion price of $1.66 per share.
−Removed: In the event that we do not complete the conversion and redemption by
−Removed: June 30, 2021, and the Sahara shareholders do not agree to an extension, the redemption and conversion agreement will terminate
−Removed: without liability by any party.
−Removed: DEFAULTS UPON SENIOR SECURITIES
−Removed: MINE SAFETY DISCLOSURES
+Added: Company has experienced challenges within the global supply chain which has impacted the business in three key areas:
+Added: (i) movement and/or
+Added: delay in production schedules due to component shortages, (ii) continued delays to global shipping and receipt of goods and (iii) increased
+Added: shipping costs which has reduced gross profit margin.
+Added: In addition, there is presently a global silicon chip supply shortage that could
+Added: potentially cause disruptions in our supply chain.
+Added: While the Company’s business has not yet been affected by such disruption, in
+Added: the event any of our suppliers experience such supply chain disruption, there is potential that such disruption could ultimately affect
+Added: our ability to timely obtain and deliver finished goods and products.
+Added: additional risk factors pertinent our business please refer to the Part I Item 1A of the Company’s 2020 Annual Report on Form 10-K,
+Added: which is incorporated by reference herein.
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.