5 unchanged sentences
We have had significant losses and negative cash flows in nearly every year since inception, and continue to have an accumulated deficit which, at December 31, 2025, was approximately $455.6 million.
−Removed: Our net loss for the year ended December 31, 2024 was approximately $14.5 million, compared to net income for the year ended December 31, 2023 of $9.5 million.
+Added: Our net loss for the years ended December 31, 2025 and 2024 was approximately $7.4 million and $14.5 million, respectively.
Our independent registered public accounting firm has included in their audit opinion on our consolidated financial statements as of and for the year ended December 31, 2025, a statement with respect to substantial doubt about our ability to continue as a going concern.
13 unchanged sentences
Because we have a history of net losses and negative cash flow from operations, we have funded our operating costs primarily from the sale of debt and equity securities, including our secured and unsecured contingent debt obligations.
−Removed: Our current capital resources include cash and cash equivalents of $4.9 million at December 31, 2024, which will not be sufficient to meet our working capital needs for the twelve months after issuance of our consolidated financial statements.
+Added: Our current capital resources include cash and cash equivalents of $4.4 million at December 31, 2025, which will not alone be sufficient to meet our working capital needs for the twelve months following the issuance of our consolidated financial statements.
Our business plan will continue to require expenditures for patent protection and enforcement and general operations.
28 unchanged sentences
Since 2011, we have spent a significant amount of our financial and management resources to pursue patent infringement litigation against third parties.
−Removed: We believe this litigation, and other litigation matters that we may in the future determine to pursue, will continue to consume management and financial resources for long periods of time.
−Removed: There can be no assurance that our current or future litigation matters will ultimately result in a favorable outcome for us or that our financial resources will not be exhausted before achieving a favorable outcome.
+Added: We believe this litigation will continue to consume management and financial resources for long periods of time.
+Added: There can be no assurance that our litigation matters will ultimately result in a favorable outcome for us or that our financial resources will not be exhausted before achieving a favorable outcome.
In addition, even if we obtain favorable interim rulings or verdicts in particular litigation matters, they may not be predictive of the ultimate resolution of the matter.
18 unchanged sentences
Our licensing and enforcement activities are subject to numerous risks from outside influences, including new legislation, regulations and rules related to obtaining or enforcing patents.
−Removed: For instance, the U.S.
+Added: For instance, over the past decade, the U.S.
has enacted sweeping changes to the U.S.
32 unchanged sentences
Our outstanding options and warrants may affect the market price and liquidity of the common stock.
−Removed: At December 31, 2024, we had 114.0 million shares of common stock outstanding and had outstanding options and warrants for the purchase of up to 35.2 million additional shares of common stock, of which approximately 34.4 million were exercisable as of December 31, 2024.
+Added: At December 31, 2025, we had 143.2 million shares of common stock outstanding and had outstanding options, restricted share units, and warrants for the purchase of up to 29.3 million additional shares of common stock, the majority of which were exercisable as of December 31, 2025.
In addition, as described more fully below, holders of convertible notes may elect to receive up to 24.7 million shares of common stock upon conversion of the notes, and we may elect to pay accrued interest on the notes in shares of our common stock.
55 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.