Item 1A. Risk Factors
Item 1A. Risk Factors
As a smaller reporting company, we are not required to provide the information required by this Item; however, the discussion of our business and operations and the below risk factor should be read together with the Risk Factors set forth in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on July 22, 2022. Such risks and uncertainties have the potential to affect our business, financial condition, results of operations, cash flow, strategies or prospects in a material and adverse manner.
Our cash and cash equivalents could be adversely affected if the financial institutions, in which we hold our cash balances, fail.
We regularly maintain cash balances at several third-party financial institutions in excess of the Federal Deposit Insurance Corporation (FDIC) insurance limit. The failure of, or any other adverse condition suffered by, one or more of these financial institutions could result in our inability to obtain the return of our funds and/or could impact our access to our cash which could adversely impact our operating liquidity and financial performance.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
None.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not applicable.
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