−Removed: In addition to the other information set forth in this report, you should carefully consider the factors discussed under Part 1.
+Added: In addition to the other information set forth in this report, you should carefully consider the factors discussed below and under Part 1.
Item 1A, “Risk Factors”
1 unchanged sentence
These factors could materially adversely affect our business, financial condition, liquidity, results of operations and capital position, and could cause our actual results to differ materially from our historical results or the results contemplated by any forward-looking statements contained in this report.
−Removed: There have been no material changes to the risk factors described under “Risk Factors,”
+Added: Except as described below, there have been no material changes to the risk factors described under “Risk Factors,”
included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2020.
+Added: Risks Related to Our Commmon Stock
+Added: Our stock price and trading volume has recently been extremely volatile and may be volatile in the future for reasons unrelated to our operating performance or prospects and, as a result, investors in our common stock could incur substantial losses.
+Added: Our stock price has recently been extremely volatile and may be volatile in the future.
+Added: By way of example, on January 22, 2021, the price of our common stock closed at $3.34 per share, on January 29, 2021, our stock price closed at $64.00 per share with no discernible material announcements or developments relating to our operations.
+Added: On January 28, 2021, the intra-day sales price of our common stock fluctuated between a reported low sale price of $25.00 and a reported high sales price of $127.45.
+Added: Additionally, the trading volume in shares of our common stock during the three months ended March 31, 2021 ranged from a low of 26,200 shares on January 14, 2021 to a high of 60.2 million on March 10, 2021.
+Added: We may incur rapid and substantial decreases in our stock price in the foreseeable future that are unrelated to our operating performance or prospects.
+Added: The stock market in general has experienced extreme volatility that has often been unrelated to the operating performance of particular companies.
+Added: As a result of this volatility, investors may experience losses on their investment in our common stock.
+Added: In the past, following periods of volatility in the market, securities class-action litigation has often been instituted against companies.
+Added: Such litigation, if instituted against us, could result in substantial costs and diversion of management’s attention and resources, which could materially and adversely affect our business, financial condition, results of operations and growth prospects.
+Added: There can be no guarantee that our stock price will remain at current prices or that future sales of our common stock will not be at prices lower than those sold to investors.
+Added: A “short squeeze”
+Added: due to a sudden increase in demand for shares of our common stock that largely exceeds supply has led to, and may continue to lead to, extreme price volatility in shares of our common stock.
+Added: Recently, securities of certain companies have experienced significant and extreme volatility in stock price due to a sudden increase in demand for stock resulting in aggregate short positions in the stock exceeding the number of shares available for purchase, forcing investors with short exposure to pay a premium to repurchase shares for delivery to share lenders.
+Added: This is known as a “short squeeze.”
+Added: These short squeezes have led to the price per share of those companies to trade at a significantly inflated rate that is disconnected from the underlying value of the company.
+Added: A large proportion of our common stock has been and may continue to be traded by short sellers which may increase the likelihood that our common stock will be the target of a short squeeze.
+Added: A short squeeze has led and could continue to lead to volatile price movements in shares of our common stock that are unrelated or disproportionate to our operating performance or prospects and, once investors purchase the shares of our common stock necessary to cover their short positions, the price of our common stock may rapidly decline.
+Added: Stockholders that purchase shares of our common stock during a short squeeze may lose a significant portion of their investment.
+Added: Future sales of a substantial amount of our common stock in the public markets by our insiders, or the perception that these sales may occur, may cause the market price of our common stock to decline.
+Added: Our employees, directors and officers, and their affiliates, hold substantial amounts of shares of our common stock.
+Added: Sales of a substantial number of such shares by these stockholders, or the perception that such sales will occur, may cause the market price of our common stock to decline.
+Added: Other than restrictions on trading that arise under securities laws (or pursuant to our securities trading policy that is intended to facilitate compliance with securities laws), including the prohibition on trading in securities by or on behalf of a person who is aware of nonpublic material information, we have no restrictions on the right of our employees, directors and officers, and their affiliates, to sell their unrestricted shares of common stock.
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.