Item 1A. Risk Factors
Item 1A. Risk Factors
Important risk factors that could affect our operations and financial performance, or that could cause results or events to differ from current expectations, are described in Part I, Item 1A, " Risk Factors ” of our Annual Report on Form 10-K filed with the SEC on March 31, 2021 for the year ended December 31, 2020, as supplemented by the " Risk Factors " section in our prospectus filed with the SEC on February 12, 2021 (as amended and/or supplemented to date) and April 7, 2021 (as amended and/or supplemented to date) and the information set forth below or contained elsewhere in this Report. The risks and uncertainties described below, within our Form 10-K for the year ended December 31, 2020 and the prospectuses are not the only risks we face. Additional risks and uncertainties that we are unaware of, or that we currently believe are not material, may also become important factors that adversely affect our business or results of operations.
There is no guarantee that our current cash position, expected revenue growth and anticipated financing initiatives will be sufficient to fund our operations for the next twelve months.
We have an accumulated deficit of approximately $166.5 million as of June 30, 2021, as well as a net loss and negative cash flows from operations for the six months ended June 30, 2021. In addition, our backlog and cash on-hand at June 30, 2021 was lower than originally anticipated. These conditions raise substantial doubt about our ability to continue as a going concern. If we are unable to raise additional capital on favorable terms, if at all, during the next twelve months, our business and financial condition could be materially adversely affected.
Refer to " Going Concern, Liquidity and Management's Plan" , under Note 1, " The Company and Basis of Presentation" of the notes to the condensed consolidated financial statements.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
None.
Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Not applicable.
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