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We intend to monitor the closing bid price of our common stock and consider available options to regain compliance, which may include seeking stockholder approval to effect a reverse stock split.
+Added: Our 2026 Annual Meeting of Stockholders, convened on May 15, 2026, was adjourned for lack of a quorum and is scheduled to reconvene on September 11, 2026.
+Added: Any reverse stock split would require stockholder approval, and there can be no assurance that we will be able to obtain a quorum or the requisite stockholder approval in time to complete a reverse stock split within the compliance period.
There can be no assurance that any action taken by us would be successful or would result in a sustained increase in the market price of our common stock.
Even if we regain compliance with the minimum bid price requirement, there can be no assurance that the market price of our common stock will not again fall below $1.00 per share, which could result in our receipt of one or more additional deficiency notices and ultimately in the delisting of our common stock from The Nasdaq Capital Market.
+Added: We may be unable to refinance or repay our Series A Prime Revenue Sharing Notes at their maturity on December 15, 2026.
+Added: As of June 30, 2026, $15.0 million aggregate principal amount of our Series A Prime Revenue Sharing Notes was outstanding, all of which is due and payable on December 15, 2026.
+Added: As of June 30, 2026, we had cash and cash equivalents of $9.8 million, and, as discussed under “Liquidity and Capital Resources,” our existing cash is insufficient to fund our current level of operations.
+Added: We are evaluating refinancing alternatives with respect to the notes.
+Added: There can be no assurance that we will be able to refinance, restructure or repay the notes on acceptable terms, or at all.
+Added: Any refinancing may be on terms less favorable to us, may increase our financing costs, may impose additional restrictions on our business, or may involve the issuance of equity or equity-linked securities that dilute existing stockholders.
+Added: If we are unable to refinance or otherwise satisfy the notes at maturity, our liquidity, financial condition and ability to continue as a going concern would be materially adversely affected.
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
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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.