What changed in this filing

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Item 1A. Risk Factors

2022-11-14 compared with 2022-08-11 · 53 added, 4 removed, 1 unchanged (98% of the section changed)

significant risks in our business, some of which are unknown to us and not presently foreseen.

These risks could have a material adverse

impact on our business, financial condition and results of operations in the future.

There are no material changes to the risk factors

set forth under Item 1A of our Annual Report on Form 10-K for the year ended March 31, 2022, which we filed with the SEC on June 28,

These risks could have a material

adverse impact on our business, financial condition and results of operations in the future.

There are no material changes to

the risk factors set forth under Item 1A of our Annual Report on Form 10-K for the year ended March 31, 2022, which we filed with

the SEC on June 28, 2022.

We might not be able

to continue as a going concern.

Our unaudited condensed consolidated

financial statements as of September 30, 2022 have been prepared under the assumption that we will continue as a going concern

for the next twelve months.

At September 30, 2022, we had cash and cash equivalents of $10.8 million and an accumulated deficit

of $41.5 million.

We do not believe that our cash, cash equivalents and investments are sufficient to fund our operations for

the next 12 months, and we will need to raise additional capital.

As a result of our expected operating losses and

cash burn for the foreseeable future and recurring losses from operations, if we are unable to raise sufficient capital through

additional debt or equity arrangements, there will be uncertainty regarding our ability to maintain liquidity sufficient to operate

our business effectively, which raises substantial doubt as to our ability to continue as a going concern.

If we cannot continue

as a viable entity, our stockholders would likely lose most or all of their investment in us.

If we are unable to generate sustainable

operating profit and sufficient cash flows, then our future success will depend on our ability to raise capital.

We are seeking

additional financing and evaluating financing alternatives in order to meet our cash requirements for the next 12 months.

be certain that raising additional capital, whether through selling additional debt or equity securities or obtaining a line of

credit or other loan, will be available to us or, if available, will be on terms acceptable to us.

If we issue additional securities

to raise funds, these securities may have rights, preferences, or privileges senior to those of our common stock, and our current

stockholders may experience dilution.

If we are unable to obtain funds when needed or on acceptable terms, we may be required

to curtail our current product development programs, cut operating costs, forego future development and other opportunities or

even terminate our operations.

The invasion of Ukraine by

Russia could negatively impact our business.

Russia’s recent military

invasion of Ukraine has led to, and may lead to, additional sanctions being levied by the United States, European Union and other

countries against Russia.

Russia’s military invasion and the resulting sanctions have had an adverse effect on global markets.

We cannot predict the progress or outcome of the situation in Ukraine, as the conflict and governmental reactions are rapidly

developing and beyond our control.

Prolonged unrest, intensified military activities, or more extensive sanctions impacting the

region could have a material adverse effect on the global economy, and such effect could in turn have a material adverse effect

on the operations, results of operations, financial condition, liquidity and outlook of our business.

Sustained inflation could

have a material adverse effect on our business, financial condition, results of operations and liquidity.

Inflation rates in the markets

in which we operate have increased and may continue to rise.

Inflation over the last several months has led us to experience higher

costs, including higher labor, materials and transportation costs.

Certain of our suppliers have raised their prices and may continue

to raise prices.

If inflation rates continue to rise or remain elevated for a sustained period of time, they could have a material

adverse effect on our business, financial condition, results of operations and liquidity.

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 1A. Risk Factors