5 unchanged sentences
Additional risks and uncertainties not presently known to us or that we currently believe to be immaterial may become material and adversely affect our business.
−Removed: Our success in generating revenues from governmental contracts depends our ability to comply with governmental regulations related to defense spending and procurement.
−Removed: Contracts with governmental organizations, including the United States government, have not been a major source of our revenues in the past.
−Removed: However, we anticipate such sources becoming a more significant portion of our business in the future.
−Removed: Our ability to comply with governmental regulations applicable to United States defense contractors, including procurement procedures, could have a material impact on our future results of operations.
−Removed: In addition, as a provider for the United States government, we may be subject to numerous laws and regulations relating to the award, administration and performance of United States government contracts.
−Removed: Non-compliance found by any one agency could result in fines, penalties, debarment, or suspension from receiving additional contracts with all United States government agencies.
−Removed: Given our potential dependence on US government business, suspension or debarment could have a material adverse effect on our business and results of operations.
−Removed: Our products may not be suitable for defense applications.
−Removed: Our ability to generate revenue from ONR and other United States government contracts in the future could depend on the viability of our KARNO generator in maritime and other applications for which they have not yet been tested.
−Removed: If we are unable to demonstrate the viability of the KARNO generator for naval and stationary applications under our government research contracts, it may have a material effect on revenues and operations.
+Added: In February 2025, the U.S.
+Added: government commenced a broad review of U.S.
+Added: trade relations and began issuing numerous executive orders and other public policy statements imposing, or threatening to impose, tariffs on certain countries, materials, and industries.
+Added: In response, impacted countries have imposed or threatened various corresponding retaliatory tariffs.
+Added: The imposition of tariffs by the U.S.
+Added: government and any retaliatory tariffs imposed in response is uncertain, including in the amount, applicability and duration of such tariffs.
+Added: Presently, we import parts and supplies from overseas manufacturers, including certain components used in our additive printing machines from Germany and R&D and production components from China.
+Added: Given the uncertain nature of the impact of tariffs on our component costs, we may be subject to an increase in the cost of these imported items.
+Added: If we do experience increased costs, we may not be able to pass these costs on to customers.
+Added: Furthermore, the economic impact of the tariffs currently announced or that may be announced in the future, may impact the global supply chain and result in increased shipping costs or delays.
+Added: Any significant variation from our expectations regarding our manufacturing costs, including due to tariffs or supply chain issues, could have a material adverse effect on our results of operations, financial condition and cash flows.
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.