1 unchanged sentence
Described below are certain risks that we believe apply to our business and the industry in which we operate.
−Removed: You should carefully consider each of the following risk factors in conjunction with other provided in this Annual Report on Form 10-K and in our other public disclosure.
+Added: You should carefully consider each of the following risk factors in conjunction with others provided in this Annual Report on Form 10-K and in our other public disclosures.
The risks described below highlight potential events, trends or other circumstances that could adversely affect our business, financial condition, results of operations, cash flows, liquidity or access to sources of financing, and consequently, the market value of our common stock.
11 unchanged sentences
We have incurred losses in the past, and we will likely continue to incur losses in the future.
−Removed: Even if our drilling programs identify gold, silver or other mineral reserves, there can be no assurance that we will be able to commercially exploit these resources, generate any revenues or generate sufficient revenues to operate profitably.
+Added: Even if our drilling programs identify gold,
+Added: silver or other mineral reserves, there can be no assurance that we will be able to commercially exploit these resources, generate any revenues or generate sufficient revenues to operate profitably.
We will require significant additional capital to continue our exploration activities, and, if warranted, to develop mining operations.
43 unchanged sentences
Factors that could cause exploration costs to increase include adverse weather conditions, difficult terrain, increased government regulation and shortages of qualified personnel.
−Removed: Assuming no adverse developments outside of the ordinary course of business, our exploration and development budget will be approximately $4.0 million for the next twelve months.
+Added: Assuming no adverse developments outside of the ordinary course of business, our exploration and development budget will be approximately up to $3.9 million for the next twelve months.
Exploration will be funded by our available cash reserves and future issuances of common stock, warrants or units.
49 unchanged sentences
Due to the presence of these factors, there is no assurance that any geological reports will accurately reflect actual quantities of gold, silver or other metals that can be economically processed and mined by us.
−Removed: If we are unable to obtain all of our required governmental permits, our operations could be negatively impacted.
+Added: If we are unable to obtain all of our required governmental permits, our operat ions could be negatively impacted.
Our future operations, including exploration and development activities, required permits from various governmental authorities.
24 unchanged sentences
Any expenditure that we make may not result in the discovery of commercially exploitable reserves of precious metals.
−Removed: The precious metals markets are vol atile markets.
−Removed: This will have a direct impact on our revenues (if any) and profits (if any) and could have an adverse effect on our ongoing operations.
+Added: The precious metals markets are volatile markets.
+Added: This will have a direct imp act on our revenues (if any) and profits (if any) and could have an adverse effect on our ongoing operations.
The price of both gold and silver has fluctuated significantly over the past few years.
32 unchanged sentences
If this should happen, we would have devoted resources to areas where resources could have been better allocated.
−Removed: We are an “emerging growth company”, and we cannot be certain if the reduced disclosure requirements applicable to emerging growth companies will make our common stock less attractive to investors.
−Removed: As an “emerging growth company,” as defined in the Jumpstart Our Business Startups Act (“JOBS Act”), we intend to take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not “emerging growth companies” including not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, and reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements.
−Removed: Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards.
−Removed: The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable.
−Removed: We have elected not to opt out of such extended transition period, which means that when a standard is issued or revised and it has different application dates for public or private companies, we, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard.
−Removed: This may make our financial statements not comparable with those of another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period because of the potential differences in accounting standards used.
−Removed: We cannot predict if investors will find our common stock less attractive if we rely on these exemptions.
−Removed: If some investors find our common stock less attractive as a result, there may be a less active trading market for our common stock and our stock price may be more volatile.
+Added: The COVID-19 pandemic has adversely impacted our business and may negatively impact our financial results in the future, and the ultimate impact will depend on future developments, which are highly uncertain and cannot be predicted, including the scope and duration of the pandemic and actions taken by governmental authorities in response to t he pandemic.
+Added: The COVID-19 pandemic has negatively impacted the global economy, disrupted global supply chains, lowered equity market valuations, created significant volatility and disruption in financial markets, and increased unemployment levels.
+Added: In addition, the pandemic has resulted in temporary closures of many businesses and the institution of social distancing and sheltering in place requirements in many states and communities.
+Added: As a result, our ability to continue with our planned activities may be significantly impacted, which could adversely affect the timing of completing our development programs which include the federal and state permitting of our Grassy Mountain Project in eastern Oregon.
+Added: Furthermore, our business operations may also be disrupted if significant portions of our workforce are unable to work effectively, including because of illness, quarantines, government actions, or other restrictions in connection with the pandemic.
+Added: In response to the pandemic, we have also suspended all trave l for employees and consultants.
+Added: The extent to which the COVID-19 pandemic impacts our business, results of operations, and financial condition, will depend on future developments, which are highly uncertain and cannot be predicted, including the scope and duration of the pandemic and actions taken by governmental authorities and other third parties in response to the pandemic.
If we fail to maintain an effective system of internal controls, we may not be able to accurately report our financial results or prevent fraud.
5 unchanged sentences
Ineffective internal controls could also cause investors to lose confidence in our reported financial information, which would likely have a negative effect on the trading price of our common stock.
−Removed: The JOBS Act allows us to delay the adoption of new or revised accounting standards that have different effective dates for public and private companies.
−Removed: We have elected to use the extended transition period for complying with new or revised accounting standards under Section 102(b)(1) of the JOBS Act.
−Removed: This election allows us to delay the adoption of new or revised accounting standards that have different effective dates for public and private companies until those standards apply to private companies.
−Removed: As a result of this election, our financial statements may not be comparable to companies that comply with public company effective dates.
Risks Related to Our Common Stock
11 unchanged sentences
Sales or the availability for sale of shares of common stock by stockholders could cause the market price of our common stock to decline and could impair our ability to raise capital through an offering of additional equity securities.
−Removed: Unresolved Staff Comments.
+Added: Unresolve d Staff Comments.
Not applicable as a smaller reporting company.
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.