11 unchanged sentences
This volatility may negatively impact market conditions thus reducing project activity and the Company's results of operations.
−Removed: If the United States or other countries in which the Company operates impose tariffs on imports of raw materials, including steel, used in the Company's operations, could have an adverse impact on the business.
+Added: If the United States or other countries in which the Company operates impose tariffs on imports of raw materials, including steel, used in the Company's operations, could have an adverse impact on the Company's business.
The Company regularly updates its quoting system for the movements in raw material prices and seeks to recover price differentials through increases in the selling price of the Company's products;
22 unchanged sentences
In addition to these credit arrangements, the Company also obtains financing in the Middle East on a project-by-project basis.
−Removed: The Company has approximately $ 0.1 million becoming due in the year ending January 31, 2025 under its project financing agreements.
+Added: The Company has insignificant borrowings becoming due in the year ending January 31, 2026 under its project financing agreements.
While the Company believes that it will be able to renew its Middle East credit arrangements and will have continued access to individual project financing, there is no assurance that such arrangements will be renewed or made available in similar amounts or on similar terms and conditions as the current arrangements, or that such individual project financing will be available for projects that the Company is interested in pursuing in the future.
3 unchanged sentences
The Company’s ability to comply with any covenants may be adversely affected by general economic conditions, political decisions, industry conditions and other events beyond management’s control.
−Removed: The Company may be unable to achieve sustained levels of profitability or positive cash flows in the future.
−Removed: There is no guarantee that the Company will be able to achieve profitability or positive cash flows in the future.
−Removed: The Company’s inability to successfully achieve profitability and positive cash flows may result in it experiencing a serious liquidity deficiency resulting in material adverse consequences that could threaten its viability.
+Added: The Company may be unable to maintain sustained levels of profitability or positive cash flows in the future.
+Added: There is no guarantee that the Company will be able to maintain profitability or positive cash flows in the future.
+Added: The Company’s inability to successfully maintain profitability and positive cash flows may result in it experiencing a serious liquidity deficiency resulting in material adverse consequences that could threaten its viability.
The Company extended credit to a customer for a project in the Middle East in 2013 and, if the Company is unable to collect this account receivable, its future profitability could be adversely impacted.
3 unchanged sentences
The Company completed all of its deliverables in 2015 under the related contract, but the system has not yet been commissioned by the customer as additional activities must be completed prior to the overall system completion and commissioning.
−Removed: Nevertheless, the Company has been actively involved in ongoing efforts to collect this outstanding amount.
−Removed: The Company continues to engage with the customer to ensure full payment of open balances.
−Removed: Additionally, at various times throughout 2023 and in June 2022, the Company received a partial payment to settle $0.6 million and $0.9 million of the customer's outstanding balances, respectively.
−Removed: Further, the Company has been engaged by the customer to perform additional work in the year ending January 31, 2024 under customary trade credit terms which supports the continued cooperation between the Company and the customer.
+Added: Nevertheless, the Company continues to actively engage in ongoing collection efforts with the customer to ensure full payment of open balances , and at various times throughout 2024 and 2023, the Company received a partial payment to settle $ 0.4 million and $0.6 million of the customer's outstanding balances, respectively, including an additional $0.5 million that was received subsequent to the end of the year.
+Added: Additionally, the Company has been engaged by the customer to perform additional work in 2025 under customary trade credit terms that support the continued cooperation between the Company and the customer.
As a result, the Company did not reserve any allowance against this outstanding receivable as of January 31, 2025 .
5 unchanged sentences
The Company ’ s ability to use its net operating loss carryforwards and certain other tax attributes may be limited.
−Removed: The Company’s net operating loss (“NOL”) carryforwards in the U.S.
+Added: The Company’s net operating loss carryforwards (“NOLs”) in the U.S.
could expire unused and be unavailable to offset future income tax liabilities because of their limited duration or because of restrictions under U.S.
8 unchanged sentences
The Company’s management is responsible for establishing and maintaining effective internal control over financial reporting.
+Added: However, there are material weaknesses in internal controls such that our internal control over financial reporting has been determined not to be effective.
Internal control over financial reporting is a process to provide reasonable assurance regarding the reliability of financial reporting for external purposes in accordance with accounting principles generally accepted in the United States.
Because of its inherent limitations, internal control over financial reporting is not intended to provide absolute assurance that the Company would prevent or detect a misstatement of its financial statements or fraud.
+Added: If we are not able to remediate the material weaknesses and maintain effective internal control over financial reporting, our business and financial results could be harmed.
The Company may experience changes in estimates which could result in a reduction or elimination of previously recorded revenues and profit in connection with "over time" revenue recognition.
52 unchanged sentences
The Company may be unable to retain its senior management and key personnel.
−Removed: The Company's ability to meet its strategic and financial goals will depend to a significant extent on the continued contributions of its senior management and key personnel.
+Added: The Company's ability to meet its strategic and financial goals will depend to a significant extent on the continued contributions of its senior management and key personnel, or the successful transition of responsibilities of departing senior management and key personnel.
Future success will also depend in large part on the Company's ability to identify, attract, motivate, effectively utilize and retain highly qualified managerial, sales, marketing and technical personnel.
17 unchanged sentences
A successful attack could adversely affect the Company's reputation and results of operations, including through lawsuits by third parties.
−Removed: The Audit Committee of the Board of Directors is responsible for overseeing the adequacy and effectiveness of the Company's cybersecurity policies and programs.
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.