What changed in this filing

/stocks — the workspaceLOADING

Item 1A. Risk Factors

2024-11-14 compared with 2024-08-14 · 40 added, 30 removed, 22 unchanged (76% of the section changed)

16 unchanged sentences

may be delisted from The Nasdaq Capital Market.

On August 17, 2023, we

were notified by the Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market (“Nasdaq”)

that we were not in compliance with the minimum $2,500,000 stockholders’ equity requirement for continued listing set forth in Listing

Rule 5550(b).

On February 27, 2024, the Staff notified us that we did not comply with the $1.00 minimum bid price requirement set forth

under Listing Rule 5550(a)(2).

On February 14, 2024, we were notified that because we had not regained compliance with the Nasdaq equity

requirement, our securities would be delisted unless it requested a hearing.

On February 21, 2024, we requested a hearing, which was held

on April 18, 2024.

On May 6, 2024, we received

notification from the Nasdaq Hearings Panel (“Panel”) that it has granted an extension until July 15, 2024, to demonstrate

compliance with Listing Rules 5550(a)(2) and 5550(b).

On July 12, 2024, we requested an extension of this time period until August 12,

On July 19, 2024, the Panel granted the requested extension until August 12, 2024, which date represented the full extent of the

Panel’s discretion to grant continued listing while we are non-compliant with Listing Rule 5550(b).

On July 5, 2024, we received a letter from the

Nasdaq Staff notifying we had regained compliance with Bid Price Rule as a result of the closing bid price of our common stock being at

$1.00 per share or greater for the 20 consecutive business days from June 5, 2024, through July 3, 2024.

On August 7, 2024, we

filed a Form 8-K with the SEC indicating that as of that date, our shareholders’ equity was above the $2.5 million continued listing

equity requirement as set forth in Listing Rule 5550(b)(1).

As of the date hereof, we have not received any notice from Nasdaq on our

compliance status.

Delisting from The Nasdaq

Capital Market would adversely affect our ability to raise additional financing through the public or private sale of equity securities,

may significantly affect the ability of investors to trade our securities and may negatively affect the value and liquidity of our common

Delisting also could have other negative results, including the potential loss of employee confidence, the loss of institutional

investors or interest in business development opportunities.

On September 12, 2024, we received a letter from

the Staff of Nasdaq notifying us that for the previous 30 consecutive business days our common stock had not maintained a closing bid

price of $1.00 per share (the “Minimum Bid Price Requirement”) required for continued listing on The Nasdaq Capital Market

pursuant to Nasdaq Listing Rule 5550(a)(2).

Normally, a company would be afforded a 180-calendar day period to demonstrate compliance

with the Minimum Bid Price Requirement.

However, pursuant to Listing Rule 5810(c)(3)(A)(iv), we were not eligible for any compliance

period specified in Rule 5810(c)(3)(A) because we effected one or more reverse stock splits over the prior two-year period with a cumulative

ratio of 250 shares or more to one.

We requested a hearing before a Hearings Panel (the “Panel”), but prior to such hearing,

on October 30, 2024 the Panel provided us a temporary exception to regain compliance with the Minimum Bid Price Requirement until March

The Panel noted that it reserves the right to reconsider the terms of this exception based on any event, condition or circumstance

that exists or develops that would, in the opinion of the Panel, make continued listing of our securities on Nasdaq inadvisable or unwarranted.

The Panel notification advised us that the Nasdaq Listing and Hearing Review Council may, on its own motion, determine to review any Panel

decision within 45 calendar days after issuance of the written decision.

If the Listing Council determines to review the Panel’s

decision in our matter, it may affirm, modify, reverse, dismiss or remand the decision to the Panel.

We were previously not in compliance with the minimum

$2,500,000 stockholders’ equity requirement for continued listing set forth in Listing Rule 5550(b) (the “Equity Requirement”).

On September 10, 2024, we received a letter from the Nasdaq Office of General Counsel that we had demonstrated compliance with the Equity

Requirement and that the matter is closed.

According to the letter, pursuant to Nasdaq Listing Rule 5815(d)(4)(B), we are subject to a

Mandatory Panel Monitor for a period of one year from the date of the letter.

If, within that one-year monitoring period, the Staff finds

us again out of compliance with the Equity Requirement, notwithstanding Listing Rule 5810(c)(2), we will not be permitted to provide the

Staff with a plan of compliance with respect to that deficiency and Staff will not be permitted to grant additional time for us to regain

compliance with respect to that deficiency, nor will we be afforded an applicable cure or compliance period pursuant to Listing Rule 5810(c)(3).

Instead, Staff will issue a Delist Determination Letter and we will have an opportunity to request a new hearing with the initial Panel

or a newly convened Hearings Panel if the initial Panel is unavailable.

We will have the opportunity to respond/present to the Hearings

Panel as provided by Listing Rule 5815(d)(4)(C).

Our common stock may be at that time delisted from Nasdaq.

There can be no assurance

that we will continue to meet the continued listing requirements of The Nasdaq Capital Market and could be subject to delisting at a future

Delisting from The Nasdaq Capital Market would adversely affect our ability to raise additional financing through the public or

private sale of equity securities, may significantly affect the ability of investors to trade our securities and may negatively affect

the value and liquidity of our common stock.

Delisting also could have other negative results, including the potential loss of employee

confidence, the loss of institutional investors or interest in business development opportunities.

Unregistered Sales of Equity Securities and Use of Proceeds

Except as previously disclosed on Form 8-K, we

have not issued any unregistered securities during the quarter ended June 30, 2024.

have not issued any unregistered securities during the quarter ended September 30, 2024.

Defaults Upon Senior Securities

2 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.

What changed 10-Q

Item 1A. Risk Factors