−Removed: significant risks in our business, some of which are unknown to us and not presently foreseen.
−Removed: These risks could have a material
−Removed: adverse impact on our business, financial condition and results of operations in the future.
−Removed: There are no material changes to
−Removed: 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
−Removed: the SEC on June 28, 2022.
−Removed: We might not be able
−Removed: to continue as a going concern.
−Removed: Our unaudited condensed consolidated
−Removed: financial statements as of September 30, 2022 have been prepared under the assumption that we will continue as a going concern
−Removed: for the next twelve months.
−Removed: At September 30, 2022, we had cash and cash equivalents of $10.8 million and an accumulated deficit
−Removed: of $41.5 million.
−Removed: We do not believe that our cash, cash equivalents and investments are sufficient to fund our operations for
−Removed: the next 12 months, and we will need to raise additional capital.
−Removed: As a result of our expected operating losses and
−Removed: cash burn for the foreseeable future and recurring losses from operations, if we are unable to raise sufficient capital through
−Removed: additional debt or equity arrangements, there will be uncertainty regarding our ability to maintain liquidity sufficient to operate
−Removed: our business effectively, which raises substantial doubt as to our ability to continue as a going concern.
−Removed: If we cannot continue
−Removed: as a viable entity, our stockholders would likely lose most or all of their investment in us.
−Removed: If we are unable to generate sustainable
−Removed: operating profit and sufficient cash flows, then our future success will depend on our ability to raise capital.
−Removed: We are seeking
−Removed: additional financing and evaluating financing alternatives in order to meet our cash requirements for the next 12 months.
−Removed: be certain that raising additional capital, whether through selling additional debt or equity securities or obtaining a line of
−Removed: credit or other loan, will be available to us or, if available, will be on terms acceptable to us.
−Removed: If we issue additional securities
−Removed: to raise funds, these securities may have rights, preferences, or privileges senior to those of our common stock, and our current
−Removed: stockholders may experience dilution.
−Removed: If we are unable to obtain funds when needed or on acceptable terms, we may be required
−Removed: to curtail our current product development programs, cut operating costs, forego future development and other opportunities or
−Removed: even terminate our operations.
−Removed: The invasion of Ukraine by
−Removed: Russia could negatively impact our business.
−Removed: Russia’s recent military
−Removed: invasion of Ukraine has led to, and may lead to, additional sanctions being levied by the United States, European Union and other
−Removed: countries against Russia.
−Removed: Russia’s military invasion and the resulting sanctions have had an adverse effect on global markets.
−Removed: We cannot predict the progress or outcome of the situation in Ukraine, as the conflict and governmental reactions are rapidly
−Removed: developing and beyond our control.
−Removed: Prolonged unrest, intensified military activities, or more extensive sanctions impacting the
−Removed: region could have a material adverse effect on the global economy, and such effect could in turn have a material adverse effect
−Removed: on the operations, results of operations, financial condition, liquidity and outlook of our business.
−Removed: Sustained inflation could
−Removed: have a material adverse effect on our business, financial condition, results of operations and liquidity.
−Removed: Inflation rates in the markets
−Removed: in which we operate have increased and may continue to rise.
−Removed: Inflation over the last several months has led us to experience higher
−Removed: costs, including higher labor, materials and transportation costs.
−Removed: Certain of our suppliers have raised their prices and may continue
−Removed: to raise prices.
−Removed: If inflation rates continue to rise or remain elevated for a sustained period of time, they could have a material
−Removed: adverse effect on our business, financial condition, results of operations and liquidity.
+Added: We face many significant risks in
+Added: our business, some of which are unknown to us and not presently foreseen.
+Added: These risks could have a material adverse impact on
+Added: our business, financial condition and results of operations in the future.
+Added: There are no material changes to the risk factors set
+Added: 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,
+Added: 2022, and of our Quarterly Report on Form 10Q for the three months ended September 30, 2022, which we filed with the SEC on November
+Added: 14, 2022, as amended on November 17, 2022.
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.