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and results of operations.
−Removed: The risks set forth in the following additional risk factors have the potential to materially affect
−Removed: our financial condition and results of operations.
−Removed: need to raise additional capital to repay Investor Notes issued under a Securities Purchase Agreement dated October 23, 2023 and support
−Removed: our operations.
−Removed: If we are unable to raise capital in subsequent offerings, the assets we pledged to secure the lending may be taken.
−Removed: believe that current cash on hand is insufficient to repay the Investor Notes and to fund operations through the end of the first quarter
−Removed: If we are unable to repay the Investor Notes issued under a Securities Purchase Agreement dated October 23, 2023, the lenders
−Removed: have various recourse against us, including the ability to take control of the collateral pledged to them, which constitutes substantially
−Removed: all of our tangible and intangible assets, including our intellectual property.
−Removed: The report of our independent registered public accounting
−Removed: firm on our financial statements for the years ended December 31, 2022 and 2021 contains explanatory language that substantial doubt
−Removed: exists about our ability to continue as a going concern.
−Removed: We have reduced expenses because we do not have access to sufficient cash and
−Removed: liquidity to finance our business operations as currently contemplated and may be compelled to reduce further general and administrative
−Removed: expenses and delay clinical trials until we are able to obtain sufficient financing.
−Removed: We may find it difficult to raise money on terms
−Removed: favorable to us or at all.
−Removed: The failure to obtain sufficient capital to support our operations would have a material adverse effect on
−Removed: our business, financial condition and results of operations.
−Removed: If sufficient financing is not received timely, we would then need to pursue
−Removed: a plan to license or sell assets, seek to be acquired by another entity, cease operations and/or seek bankruptcy protection.
−Removed: we are unable to maintain compliance with the listing standards of Nasdaq, our common stock may become delisted, which could have a material
−Removed: adverse effect on our ability to raise funding, which could negatively impact our business, capital and financial condition.
−Removed: were not in compliance with Nasdaq listing standards and requirements for our common stock for approximately a one-year period ending
−Removed: in June 2023 and had been granted an exception through June 12, 2023 to meet a number of obligations before June 12, 2023 that had been
−Removed: imposed by Nasdaq.
−Removed: By letter dated June 13, 2023, Nasdaq advised us that we had regained compliance.
−Removed: Nasdaq requires that our common
−Removed: stock have a minimum bid price of at least $1 per share (the “Minimum Bid Price”).
−Removed: At the end of October 2023 and the beginning
−Removed: of November 2023, the bid price for our common stock was below the Minimum Bid Price.
−Removed: There can be no assurance that we will be able
−Removed: to maintain compliance with all of Nasdaq’s listing requirements and standards in the future.
−Removed: If we do not continue to meet all
−Removed: of those obligations, our common stock could be delisted by Nasdaq.
−Removed: If delisting occurs, it could be more difficult to buy or sell our
−Removed: securities and to obtain accurate quotations, and the price of our common stock could suffer a material decline.
−Removed: In addition, a delisting
−Removed: would impair our ability to raise capital through the public markets, could deter broker-dealers from making a market in or otherwise
−Removed: seeking or generating interest in our securities and might deter certain institutions and persons from investing in our securities.
−Removed: of these could negatively impact our financial condition or our ability to operate our business and maintain adequate capital.
Unregistered Sales of Equity Securities and Use of Proceeds.
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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.