ITEM 1A Risk Factors
−Removed: You should carefully consider the information in this Form 10-Q, the risk factors discussed in "Risk Factors" and other risks discussed in our 2020 Form 10-K and our filings with the SEC since December 31, 2020.
+Added: You should carefully consider the information in this Form 10-Q, including the risk factors below, and the risk factors discussed in "Risk Factors" and other risks discussed in our 2020 Form 10-K and our filings with the SEC since December 31, 2020.
These risks could materially and adversely affect our results of operations, financial condition, liquidity and cash flows.
Our business also could be affected by risks that we are not presently aware of or that we currently consider immaterial to our operations.
+Added: The proposed new regulation concerning mandatory COVID-19 vaccination of employees could have a material adverse impact on our business and results of operations.
+Added: On September 9, 2021, President Biden announced a proposed new rule requiring all employers with at least 100 employees to ensure that their employees are fully vaccinated or require unvaccinated workers to get a negative test at least once a week.
+Added: The Department of Labor's Occupational Safety and Health Administration (“OSHA”) is drafting an emergency regulation to carry out this mandate.
+Added: We currently have no details as to the requirements of the regulations, and it is not possible to predict with certainty the impact the new regulation would have on us.
+Added: As a company with more than 100 employees, this may result in increased costs, labor disruptions or employee attrition, which could be material.
+Added: If we lose employees, it will be difficult in the current competitive labor market to find replacement employees, and this could have an adverse effect on future revenues and costs.
+Added: Accordingly, the proposed new OSHA regulation when implemented could have a material adverse effect on our business and results of operations.
+Added: We may be unable to successfully implement price increases and, as a result, our businesses and financial position and results of operations could be materially and adversely affected.
+Added: Our ability to implement customer price increases where margin on product is not meeting profitability targets is subject to a variety of factors, such as fluctuations in our material, freight and labor costs or other competitive conditions, which are beyond our control.
+Added: For example, customers may refuse to pay increased prices that meet our profitability targets, resource from other suppliers, or not issue purchase orders to us with large volumes.
+Added: Any failure to successfully implement price increases could materially and adversely affect our business, results of operations and growth potential.
+Added: Our inability to compete effectively in the highly competitive warehouse automation industry could result in loss of market share and reduced gross margins, which could have an adverse effect on our revenues and operating results.
+Added: The warehouse automation industry is highly competitive.
+Added: Some of our competitors are companies that are larger and have greater financial and other resources than we do.
+Added: Our products primarily compete on the basis of price, product quality, technical expertise, development capability, product delivery and product service.
+Added: Increased competition may lead to price reductions or loss of business resulting in reduced gross margins and loss of market share.
ITEM 2 Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: We did not sell any equity securities during the six months ended June 30, 2021 that were not registered under the Securities Act of 1933, as amended.
+Added: We did not sell any equity securities during the nine months ended September 30, 2021 that were not registered under the Securities Act of 1933, as amended.
ITEM 3 Defaults Upon Senior Securities
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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.