What changed in this filing

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Item 2. Management’s Discussion and Analysis

2022-11-14 compared with 2022-08-12 · 94 added, 90 removed, 96 unchanged (66% of the section changed)

14 unchanged sentences

Results of Operations for the Three

Months Ended June 30, 2022 and 2021

Three months ended June 30,

Months Ended September 30, 2022 and 2021

Three months ended

September 30,

The Company recorded revenue of $0 and

$460 for the three-month period ended June 30, 2022 and June 30, 2021.

The Company incurred revenue in the three-month period ended

June 30, 2021 from the sale of Falcon 3D Touch Haptic Controllers.

The Company expects to continue to incur significant expenses

and operating losses for the foreseeable future.

The Company’s net losses may fluctuate significantly from quarter to quarter

and year to year.

$913 for the three-month period ended September 30, 2022 and September 30, 2021.

The Company incurred revenue in the three-month

period ended September 30, 2021 from the sale of Falcon 3D Touch Haptic Controllers.

The Company expects to continue to incur significant

expenses and operating losses for the foreseeable future.

The Company’s net losses may fluctuate significantly from quarter

to quarter and year to year.

Operating Expenses

Three months ended June 30,

Three months ended

September 30,

Operating Expenses

Operating expenses decreased by $908 or

2% to $36,858 for the three months ended June 30, 2022, compared with $37,766 for the three months ended June 30, 2021.

This decrease

was due primarily to a decrease in General and Administrative expenses that were incurred during the three months ended June 30,

Operating expenses increased by $8,382

or 30% to $36,456 for the three months ended September 30, 2022, compared with $28,074 for the three months ended September 30,

This increase was due primarily to an increase in Professional fees that were incurred during the three months ended September

Other Expense

Three months ended June 30,

Three months ended

September 30,

Other Expense

Other expense decreased by $50 or 100%

to $0 during the three months ended June 30, 2022 compared with $52 during the three months ended June 30, 2021.

Other expense

for the three months ended June 30, 2021 consisted of interest expense related to finance charges on credit cards.

Results of Operations for the Six Months Ended June 30, 2022

Six months ended June 30,

to $0 during the three months ended September 30, 2022 compared with $50 during the three months ended September 30, 2021.

expense for the three months ended September 30, 2021 consisted of interest expense related to finance charges on credit cards.

Results of Operations for the Nine Months Ended September

30, 2022 and 2021

Nine months ended

September 30,

The Company recorded revenue of $0 and

$1,655 for the six-month period ended June 30, 2022 and June 30, 2021.

The Company incurred revenue in the six-month period ended

June 30, 2021 from the sales of Falcon 3D Touch Haptic Controller.

The Company expects to continue to incur significant expenses

and operating losses for the foreseeable future.

The Company’s net losses may fluctuate significantly from quarter to quarter

and year to year.

$2,568 for the nine-month period ended September 30, 2022 and September 30, 2021.

The Company incurred revenue in the nine-month

period ended September 30, 2021 from the sales of Falcon 3D Touch Haptic Controller.

The Company expects to continue to incur significant

expenses and operating losses for the foreseeable future.

The Company’s net losses may fluctuate significantly from quarter

to quarter and year to year.

Operating Expenses

Six months ended June 30,

Nine months ended

September 30,

Operating Expenses

Operating expenses decreased by $254 or

less than one percent to $86,158 for the six months ended June 30, 2022, compared with $86,412 for the six months ended June 30,

This decrease was primarily due to a decrease in General and Administrative expenses that were incurred during the six months

ended June 30, 2022.

Operating expenses increased by $8,128

or 7% to $122,614 for the nine months ended September 30, 2022, compared with $114,486 for the nine months ended September 30,

This increase was primarily due to an increase in Professional fees that were incurred during the nine months ended September

Other Expense

Six months ended June 30,

Nine months ended

September 30,

Other Expense

Other expense decreased by $91 or 87% to

$14 during the six months ended June 30, 2022 compared with $105 during the six months ended June 30, 2021.

Other expense for the

six months ended June 30, 2022 and June 30, 2021 consisted of interest expense related to finance charges on credit cards.

Other expense decreased by $141 or 91%

to $14 during the nine months ended September 30, 2022 compared with $155 during the nine months ended September 30, 2021.

expense for the nine months ended September 30, 2022 and September 30, 2021 consisted of interest expense related to finance charges

on credit cards.

Liquidity and Capital Resources

The following table summarizes select balance

sheet and working capital amounts as of June 30, 2022 and December 31, 2021:

sheet and working capital amounts as of September 30, 2022 and December 31, 2021:

September 30,

Increase (Decrease)

Working capital deficit

At June 30, 2022, the Company had a stockholders’

deficit of approximately $41,710,802 and $41,624,630 at June 30, 2022 and December 31, 2021, respectively.

Net loss for the six

months ended June 30, 2022 and 2021 was $86,172 and $84,862, respectively.

The Company had a stockholders’ deficit

of approximately $41,747,258 and $41,624,630 at September 30, 2022 and December 31, 2021, respectively.

Net loss for the nine months

ended September 30, 2022 and 2021 was $122,628 and $112,073, respectively.

Net cash used in operating activities was $88,227 and

$70,741 for the six months ended June 30, 2022 and 2021, respectively.

Operations since inception have been funded primarily with

the proceeds from equity and debt offerings.

As of June 30, 2022, the Company had cash of $124,917.

$93,010 for the nine months ended September 30, 2022 and 2021, respectively.

Operations since inception have been funded primarily

with the proceeds from equity and debt offerings.

As of September 30, 2022, the Company had cash of $97,708.

The Company’s management has evaluated

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cash as of the date of this filing will not be sufficient to fund its anticipated level of operations for the next 12 months;

the Company has incurred recurring losses and at June 30, 2022, had an accumulated deficit of $41,710,802;

(iii) the Company sustained

an operating loss of $86,172 for the period ended June 30, 2022;

and (iv) if the Company fails to obtain the needed capital, it

will be forced to delay, scale back, or eliminate some or all of its programs or perhaps cease operations.

In the opinion of management,

these factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern.

the Company has incurred recurring losses and at September 30, 2022, had an accumulated deficit of $41,747,258;

(iii) the Company

sustained an operating loss of $122,614 for the period ended September 30, 2022;

and (iv) if the Company fails to obtain the needed

capital, it will be forced to delay, scale back, or eliminate some or all of its programs or perhaps cease operations.

In the opinion

of management, these factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern.

There is no assurance that the Company

11 unchanged sentences

cash flows for the periods set forth below:

Six months ended June 30,

Nine months ended

September 30,

Net cash used in operating activities

Net cash used in operating activities for

the six months ended June 30, 2022 was $61,018 compared with net cash used in operating activities of $70,741 for the six months

ended June 30, 2021.

The increase in net cash used in operating activities during the six months ended June 30, 2022 was due primarily

to an increase in net loss of $1,310, partially offset by a decrease of $4,433 in accounts payable and accrued expenses and a decrease

in prepaid expenses of $3,227.

the nine months ended September 30, 2022 was $88,227, compared with net cash used in operating activities of $93,010 for the nine

months ended September 30, 2021.

The decrease in net cash used in operating activities during the nine months ended September 30,

2022 was due primarily to an increase in net loss to $122,628, partially offset by an increase of $37,500 in accrued royalties.

Net cash used in operating activities for

the six months ended June 30, 2021 was $70,741, representing a net loss of $84,862, partially offset by an increase of $8,566 in

accounts payable and accrued expenses and an increase in prepaid expenses of $6,040.

the nine months ended September 30, 2021 was $93,010, primarily due to a net loss of $112,073, partially offset by an increase

of $37,500 in accrued royalties and a decrease of $1,072 in prepaid expenses and other current assets.

Effects of Inflation

10 unchanged sentences

There have been no recent significant changes to our accounting policies and use of estimates during

the six months ended June 30, 2022.

For a further discussion of our critical accounting policies, see our Annual Report on

Form 10-K for the fiscal year ended December 31, 2021 filed with the SEC on March 23, 2022.

the nine months ended September 30, 2022.

For a further discussion of our critical accounting policies, see our Annual Report

on Form 10-K for the fiscal year ended December 31, 2021 filed with the SEC on March 23, 2022.

Forward Looking Statements and Certain

22 unchanged sentences

as well as any forward-looking statements, are subject to inherent risks and uncertainties, many of which we cannot predict with

accuracy and some of which we might not anticipate, including, without limitation, product recalls and product liability claims;

infringement of our technology or assertion that our technology infringes the rights of other parties;

termination of supplier

relationships, or failure of suppliers to perform;

accuracy and some of which we might not anticipate, including, without limitation, product liability claims;

infringement of our

technology or assertion that our technology infringes the rights of other parties;

termination of supplier relationships, or failure

of suppliers to perform;

inability to successfully manage growth;

delays in obtaining regulatory approvals

or the failure to maintain such approvals;

concentration of our revenue among a few customers, products or procedures;

of new products and technology that could render our products obsolete;

concentration of our revenue among a few customers, products

or procedures;

development of new products and technology that could render our products obsolete;

market acceptance of new products;

introduction of products

in a timely fashion;

price and product competition, availability of labor and materials, cost increases, and fluctuations in and

obsolescence of inventory;

introduction of products in a timely fashion;

price and product competition, availability of labor and materials, cost increases,

and fluctuations in and obsolescence of inventory;

volatility of the market price of our common stock;

3 unchanged sentences

integration of business acquisitions;

and other factors referred to in our reports filed

with the SEC, including our Registration Statement on Form 10.

All subsequent forward-looking statements attributable to us or

persons acting on our behalf are expressly qualified in their entirety by these cautionary statements.

Additional factors that

may have a direct bearing on our operating results are discussed in Item 1A “Risk Factors” in our Registration Statement

In light of these assumptions, risks and uncertainties, the results and events discussed in the forward-looking statements

contained in this Quarterly Report or in any document incorporated by reference might not occur.

Stockholders are cautioned not

to place undue reliance on the forward-looking statements, which speak only as of the date of this Quarterly Report.

under any obligation, and we expressly disclaim any obligation, to update or alter any forward-looking statements, whether as a

result of new information, future events or otherwise.

All subsequent forward-looking statements attributable to us or to any person

acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section.

and other factors referred

to in our reports filed with the SEC.

All subsequent forward-looking statements attributable to us or persons acting on our behalf

are expressly qualified in their entirety by these cautionary statements.

In light of these assumptions, risks and uncertainties,

the results and events discussed in the forward-looking statements contained in this Quarterly Report or in any document incorporated

by reference might not occur.

Stockholders are cautioned not to place undue reliance on the forward-looking statements, which speak

only as of the date of this Quarterly Report.

We are not under any obligation, and we expressly disclaim any obligation, to update

or alter any forward-looking statements, whether as a result of new information, future events or otherwise.

All subsequent forward-looking

statements attributable to us or to any person acting on our behalf are expressly qualified in their entirety by the cautionary

statements contained or referred to in this section.

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 2. Management’s Discussion and Analysis