17 unchanged sentences
These include sensor components, subassemblies, modules and products that support effective, efficient cursor control and novel three-dimensional user inputs.
−Removed: Our HMI technology platforms are deployed in a wide range of markets, including consumer electronics, automotive, industrial and medical.
+Added: Our HMI technology platforms are deployed in a wide range of markets, including medical, industrial, automotive, and consumer products.
The application of our HMI technology platforms includes vehicle entry, vehicle multi-media control interface, rugged touch controls, presence detection, collision detection, speed and torque controls, pressure mapping, biological monitoring and others.
5 unchanged sentences
We sell our products and solutions globally to a diverse array of customers that include Fortune Global 500 companies with the world’s most recognizable brands, as well as start-ups, design houses, original design and equipment manufacturers, and universities.
−Removed: Our technology has been deployed in the consumer electronics, automotive, industrial automation, medical, defense and environmental monitoring markets.
+Added: Our technology has been deployed in numerous markets, such as medical, industrial automation, consumer electronics, automotive, defense and environmental monitoring.
Our global presence in the United States, China, United Kingdom, Hong Kong, Singapore and Japan allows us to broadly provide sales and engineering support services to our existing and future worldwide customers.
21 unchanged sentences
The percentages in the table are based on revenues.
−Removed: Three Months Ended June 30,
−Removed: Six Months Ended June 30,
+Added: Three Months Ended September 30,
+Added: Nine Months Ended September 30,
(in thousands, except percentages)
4 unchanged sentences
Total operating expenses
−Removed: Income (loss) from operations
+Added: (Loss) from operations
Other income (expense), net
−Removed: Income (loss) before income taxes
+Added: (Loss) before income taxes
Income tax expense (benefit)
−Removed: Net income (loss)
−Removed: Comparison of Three Months Ended June 30, 2025 and 2024
+Added: Comparison of Three Months Ended September 30, 2025 and 2024
Revenue by the markets we serve is as follows:
−Removed: Three Months Ended June 30,
+Added: Three Months Ended September 30,
(in thousands, except percentages)
4 unchanged sentences
Products with longer design cycles often have much longer product life cycles.
−Removed: Medical, industrial, and environmental monitoring products generally have longer design and life cycles than consumer products.
+Added: Medical, industrial, and environmental monitoring products generally have long design and life cycles.
We currently have products with life cycles that have exceeded 20 years and are ongoing.
−Removed: Revenues were up in the three months ended June 30, 2025, compared to the three months ended June 30, 2024, from customers in the industrial and automotive markets, and were up from customers of our standard products, while revenues from customers in the medical market were down.
−Removed: The increase in revenue from customers in the industrial and automotive markets was due to increased shipments due to higher customer demand, while the decrease in revenue from customers in the medical market was primarily due to lower shipments to one of our larger medical customers in alignment with its level of demand and production plans.
+Added: For the three months ended September 30, 2025, compared to the three months ended September 30, 2024, revenues from customers in the medical market and from customers of our standard products were up, while revenues from customers in the industrial and automotive markets were down.
+Added: The increase in revenue from customers in the medical market was due to increased shipments of our force-sensing products and of our printed electronics in our Calman subsidiary due to higher customer demand, and the decrease in revenue from customers in the industrial market was due to reduced shipments and lower demand on our gas-sensing products.
In all markets, the timing of orders from our customers is not always predictable and can be less in some periods and higher in others depending on the level of their demand which is driven by their projects and operating plans.
−Removed: Three Months Ended June 30,
+Added: Three Months Ended September 30,
(in thousands, except percentages)
Our gross profit and gross margin percentage are impacted by various factors including product mix, customer mix, sales volume, and fluctuations in our cost of revenues, which are comprised of material costs, direct and indirect production labor costs, warehousing and logistics costs, facilities costs, and other costs related to production activities.
−Removed: Gross profit was up during the three months ended June 30, 2025 compared to the three months ended June 30, 2024 due primarily to higher revenues, while gross margin percentage was flat, as higher margins on certain of our products was offset by lower margins on others.
−Removed: Three Months Ended June 30,
+Added: Gross profit was up during the three months ended September 30, 2025 compared to the three months ended September 30, 2024 due primarily to higher revenues, while gross margin percentage was up slightly due to higher revenues and favorable changes in our product and customer mix.
+Added: Three Months Ended September 30,
(in thousands, except percentages)
2 unchanged sentences
Our R&D team focuses both on internal design development in order to develop our products and solutions, and on custom design development aimed at addressing our customers’ unique design challenges.
−Removed: Engineering and R&D costs for the three months ended June 30, 2025 were down compared to the three months ended June 30, 2024 due to lower engineering employee and consultant compensation costs.
−Removed: Three Months Ended June 30,
+Added: Engineering and R&D costs for the three months ended September 30, 2025 were down compared to the three months ended September 30, 2024 due to lower engineering employee and consultant compensation costs.
+Added: Three Months Ended September 30,
(in thousands, except percentages)
1 unchanged sentence
Selling, general and administrative expenses consist primarily of compensation expenses for sales and administrative employees, legal and other professional fees, facilities expenses, communication expenses, and intangible asset amortization expense.
−Removed: Selling, general and administrative costs for the three months ended June 30, 2025 were flat compared to the three months ended June 30, 2024.
−Removed: Three Months Ended June 30,
+Added: Selling, general and administrative costs for the three months ended September 30, 2025 were up compared to the three months ended September 30, 2024 due to increased professional fees and consultant compensation costs.
+Added: Three Months Ended September 30,
(in thousands, except percentages)
1 unchanged sentence
Other income (expense) consists of non-operating income and expenses, such as gains and losses on marketable securities, foreign currency transaction gains and losses, interest income and expense, and other non-operating income and expenses.
−Removed: Other income (expense) for the three months ended June 30, 2025 was comprised of $7,000 of interest income and $18,000 of foreign currency transaction gains, while other income (expense) for the three months ended June 30, 2024 was comprised of $14,000 of interest income and $2,000 of foreign currency transaction gains.
−Removed: Income taxes were 9.9% of pre-tax income for the three months ended June 30, 2025, versus 3.4% of pre-tax loss for the three months ended June 30, 2024.
+Added: Other income (expense) for the three months ended September 30, 2025 was comprised of $5,000 of interest income and offset by $2,000 of foreign
+Added: currency transaction losses, while other income (expense) for the three months ended September 30, 2024 was comprised of $14,000 of interest income, offset by $33,000 of foreign currency transaction losses.
+Added: Income taxes were 8.4% of pre-tax income/loss for the three months ended September 30, 2025, versus 5.7% of pre-tax income/loss for the three months ended September 30, 2024.
Our income tax expense/benefit and rate are impacted by the mix of domestic and foreign pre-tax earnings and losses, permanent differences between book income/loss and taxable income/loss, and our ability to utilize net operating loss carryforwards (“NOLs”).
1 unchanged sentence
statutory tax rate of 21% from quarter to quarter.
−Removed: The effective tax rates for the three-month periods ended June 30, 2025 and 2024 were impacted by the amount of our foreign pre-tax income/loss and the tax expense/benefit thereon while not realizing a benefit on our domestic pre-tax loss and certain foreign losses due to the valuation allowances thereon.
+Added: The effective tax rates for the three-month periods ended September 30, 2025 and 2024 were impacted by the amount of our foreign pre-tax income/loss and the tax expense/benefit thereon while not realizing a benefit on our domestic pre-tax loss and certain foreign losses due to the valuation allowances thereon.
Discrete tax events may cause our effective rate to fluctuate on a quarterly basis.
5 unchanged sentences
could have significant effects, positive and negative, on our effective tax rate and on our deferred tax assets and liabilities.
−Removed: Comparison of Six Months Ended June 30, 2025 and 2024
+Added: Comparison of Nine Months Ended September 30, 2025 and 2024
Revenue by the markets we serve is as follows:
−Removed: Six Months Ended June 30,
+Added: Nine Months Ended September 30,
(in thousands, except percentages)
−Removed: Revenues were up in the six months ended June 30, 2025, compared to the six months ended June 30, 2024, from customers in the industrial and automotive markets into which we sell, while they were down from our medical market customers and from customers of our standard products.
−Removed: The increase in revenue from customers in the industrial and automotive markets was due to increased shipments of our force-sensing and gas-sensing products and solutions due to higher customer demand, while the decrease in revenue from customers in the medical market was primarily due to lower shipments to one of our larger medical customers in alignment with its level of demand and production plans.
+Added: For the nine months ended September 30, 2025, compared to the nine months ended September 30, 2024, revenues from customers in the industrial and automotive markets and from customers of our standard products were up, while revenues were down from our medical market customers.
+Added: The increase in revenue from customers in the industrial and automotive markets was due to increased shipments of our force-sensing and gas-sensing products and solutions due to higher customer demand, while the decrease in revenue from customers in the medical market was primarily due to lower shipments to some of our larger medical customers according to their demand and production plans.
In all markets, the timing of orders from our customers is not always predictable and can be less in some periods and higher in others depending on the level of their demand which is driven by their projects and operating plans.
−Removed: Six Months Ended June 30,
+Added: Nine Months Ended September 30,
(in thousands, except percentages)
−Removed: Gross profit and gross margin percentage were down slightly during the six months ended June 30, 2025 compared to the six months ended June 30, 2024 due primarily to changes in product and customer mix.
−Removed: Six Months Ended June 30,
+Added: Gross profit was up slightly during the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024 due primarily to higher revenues, while gross margin percentage was down slightly due to changes in our product and customer mix.
+Added: Nine Months Ended September 30,
(in thousands, except percentages)
Engineering, research and development
−Removed: Engineering and R&D costs for the six months ended June 30, 2025 were down compared to the six months ended June 30, 2024 due to lower engineering employee and consultant compensation costs.
−Removed: Six Months Ended June 30,
+Added: Engineering and R&D costs for the nine months ended September 30, 2025 were down compared to the nine months ended September 30, 2024 due to lower engineering employee and consultant compensation costs.
+Added: Nine Months Ended September 30,
(in thousands, except percentages)
Selling, general and administrative
−Removed: Selling, general and administrative costs for the six months ended June 30, 2025 were down slightly compared to the six months ended June 30, 2024 due primarily to lower sales and administrative compensation expense on lower headcount, offset in part by higher costs incurred for consultants and professional services.
−Removed: Six Months Ended June 30,
+Added: Selling, general and administrative costs for the nine months ended September 30, 2025 were generally flat compared to the nine months ended September 30, 2024 due primarily to lower sales and administrative compensation expense on lower headcount, offset by higher costs incurred for consultants and professional services.
+Added: Nine Months Ended September 30,
(in thousands, except percentages)
Other income (expense), net
−Removed: Other income (expense) for the six months ended June 30, 2025 was comprised of $13,000 of interest income and $17,000 of foreign currency transaction gains, while other income (expense) for the six months ended June 30, 2024 was comprised of $32,000 of interest income and $16,000 of foreign currency transaction gains.
−Removed: Income taxes were 6.4% of pre-tax loss for the six months ended June 30, 2025, versus 3.1% for the six months ended June 30, 2024.
+Added: Other income (expense) for the nine months ended September 30, 2025 was comprised of $18,000 of interest income and $15,000 of foreign currency transaction gains, while other income (expense) for the nine months ended September 30, 2024 was comprised of $46,000 of interest income, offset by $17,000 of foreign currency transaction losses.
+Added: Income taxes were 2.1% of pre-tax income/loss for the nine months ended September 30, 2025, versus 4.0% for the nine months ended September 30, 2024.
Our income tax expense/benefit and rate are impacted by the mix of domestic and foreign pre-tax earnings and losses, permanent differences between book income/loss and taxable income/loss, and our ability to utilize net operating loss carryforwards (“NOLs”).
1 unchanged sentence
Cash requirements for working capital and capital expenditures have historically been funded from cash balances on hand, cash generated from operations, and sales of equity securities.
−Removed: As of June 30, 2025, we had cash and cash equivalents of $2.3 million, working capital of $5.0 million and no indebtedness.
+Added: As of September 30, 2025, we had cash and cash equivalents of $3.0 million, working capital of $4.9 million and no indebtedness.
Cash and cash equivalents consist of cash and money market funds.
2 unchanged sentences
or for acquisitions, we have several methods to repatriate without significant tax effects, including repayment of intercompany loans or distributions of previously taxed income.
−Removed: Other distributions may require us to incur U.S.
+Added: Certain methods of distribution may require us to incur U.S.
or foreign taxes to repatriate these funds.
−Removed: We have outstanding 200,000 shares of our 8.0% Series A Convertible Preferred Stock (the “Preferred Stock”) that have an aggregate liquidation preference of $5.0 million.
−Removed: We pay, when, as and if declared by our Board of Directors, monthly cumulative cash dividends on the Preferred Stock at an annual rate of 8.0%;
−Removed: this is equivalent to $0.16667 per month and $2.00 per annum per share, based on a per share liquidation preference of $25.00.
−Removed: Dividends on the Preferred Stock are payable monthly in arrears on the 15th day of each calendar month.
−Removed: Our Board of Directors has declared, and we have paid, cash dividends on the Preferred Stock each month since the Preferred Stock was issued in October 2021, and we expect that the Board will continue to declare, and we will continue to pay, such cash dividends each month while the Preferred Stock is outstanding, subject to applicable limitations under Nevada law.
−Removed: We believe that our existing cash and cash equivalents balance will be sufficient to maintain our current operations considering our current financial condition, obligations, and other expected cash flows.
+Added: We believe that our existing cash and cash equivalents balances will be sufficient to maintain our current operations considering our current financial condition, obligations, and other expected cash flows.
If our circumstances change, however, we may require additional cash.
5 unchanged sentences
Our cash flows from operating, investing and financing activities are summarized as follows:
−Removed: Six Months Ended
+Added: Nine Months Ended
+Added: September 30,
(in thousands)
−Removed: Net cash (used in) operating activities
+Added: Net cash provided by (used in) operating activities
Net cash (used in) investing activities
Net cash (used in) financing activities
−Removed: Net Cash (Used In) Operating Activities
−Removed: For the six months ended June 30, 2025, the $409,000 of cash used in operating activities was attributable to net loss of $705,000, adjusted for non-cash charges of $303,000 and cash used in changes in operating assets and liabilities of $7,000.
−Removed: For the six months ended June 30, 2024, the $76,000 of cash used in operating activities was attributable to net loss of $1,048,000, adjusted for non-cash charges of $395,000 and cash provided by changes in operating assets and liabilities of $577,000.
−Removed: Accounts receivable increased from $1.6 million at December 31, 2024 to $2.1 million at June 30, 2025 resulting from higher shipments during the second quarter of 2025 compared to the fourth quarter of 2024, and also from slightly higher days-sales outstanding at June 30, 2025 (56) compared to December 31, 2024 (49).
+Added: Net Cash Provided By (Used In) Operating Activities
+Added: For the nine months ended September 30, 2025, the $244,000 of cash provided by operating activities was attributable to net loss of $1,041,000, adjusted for non-cash charges of $511,000 and cash provided by changes in operating assets and liabilities of $774,000.
+Added: For the nine months ended September 30, 2024, the $144,000 of cash used in operating activities was attributable to net loss of $1,571,000, adjusted for non-cash charges of $638,000 and cash provided by changes in operating assets and liabilities of $789,000.
+Added: Accounts receivable decreased from $1.6 million at December 31, 2024 to $1.4 million at September 30, 2025 resulting from improved collections and lower days-sales outstanding at September 30, 2025 (41) compared to December 31, 2024 (49).
Many of our customers pay promptly and the accounts receivable balance is generally related to the most recent shipments.
−Removed: Inventories were down from $2.0 million at December 31, 2024 to $1.7 million at June 30, 2025.
+Added: Inventories were down from $2.0 million at December 31, 2024 to $1.8 million at September 30, 2025;
inventory balances fluctuate depending on the timing of materials purchases and product shipments.
−Removed: Prepaid expenses and other current assets were unchanged at $0.3 million at both December 31, 2024 and June 30, 2025;
+Added: Prepaid expenses and other current assets were unchanged at $0.3 million at both December 31, 2024 and September 30, 2025;
this balance fluctuates with the timing of making prepayments versus when the benefits of those prepayments are consumed.
−Removed: Accounts payable, accrued liabilities, and accrued income taxes increased slightly from $1.0 million at December 31, 2024 to $1.1 million at June 30, 2025;
+Added: Accounts payable, accrued liabilities, and accrued income taxes increased from $1.0 million at December 31, 2024 to $1.2 million at September 30, 2025;
the balances of these working capital liabilities fluctuate due to the timing of purchases and payments on inventories and other accruals of employee compensation and outside services.
Net Cash (Used In) Investing Activities
−Removed: Net cash used in investing activities of $34,000 for the six months ended June 30, 2025, and $20,000 for the six months ended June 30, 2024, consisted of purchases of property, plant, and equipment.
+Added: Net cash used in investing activities of $37,000 for the nine months ended September 30, 2025, and $107,000 for the nine months ended September 30, 2024, consisted of purchases of property, plant, and equipment.
Net Cash (Used In) Financing Activities
−Removed: Net cash used in financing activities of $200,000 for each of the six months ended June 30, 2025 and 2024 consisted of payment of dividends on our Preferred Stock.
+Added: Net cash used in financing activities of $193,000 for the nine months ended September 30, 2025 consisted of proceeds of $107,000 from issuance of common stock (net of $81,000 of offering costs), offset by payment of $300,000 of dividends on our Series A Convertible Preferred Stock.
+Added: Net cash used in financing activities of $300,000 for the nine months ended September 30, 2024 consisted of payment of dividends on our Series A Convertible Preferred Stock.
+Added: On October 15, 2025, we converted all of our Series A Convertible Preferred Stock into common stock, which will eliminate the payment of $400,000 per annum in dividends previously payable to holders of our preferred stock.
+Added: At-The-Market Issuance Sales Agreement
+Added: On May 15, 2025, we entered into an At-The-Market Issuance Sales Agreement (the “Sales Agreement”) with Lake Street Capital Markets, LLC, as sales agent (“Lake Street”), pursuant to which we may offer and sell from time to time, through Lake Street, shares of our common stock having an aggregate offering price of up to $6,000,000.
+Added: We registered the offer and sale of the common stock pursuant to a shelf registration statement on Form S-3 that we filed with the U.S.
+Added: Securities and Exchange Commission, which became effective on December 23, 2024, and a prospectus supplement filed with the Securities and Exchange Commission on May 15, 2025.
+Added: From inception of the Sales Agreement through September 30, 2025, we sold an aggregate of 29,547 shares of common stock under the Sales Agreement, at an average price of $6.37 per share, for gross proceeds of approximately $188,000 and net proceeds of $107,000, after deducting commissions and other offering expenses.
+Added: As of September 30, 2025, we had approximately $5.8 million of common stock available for sale under the Sales Agreement and the registration statement.
Off-Balance Sheet Arrangements
3 unchanged sentences
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.