Item 1A. Risk Factors
ITEM
1A. RISK FACTORS
Except as set forth below, there have been no material changes from the risk factors previously disclosed in Part
I, Item 1A “Risk Factors” of our 2023 Form 10-K.
The
ability of our executive officers and directors to control our
business may limit or eliminate minority stockholders’ ability to influence corporate affairs.
As
of June 30, 2024, our executive officers and directors owned over 50.0% of the Company’s total issued and outstanding shares.
Because of this voting control through their share ownership, these individuals, acting as a group, have significant influence over corporate actions requiring a shareholder vote, including the
selection of our directors, who in turn approve all executive officers, authorizing change-in-control transactions, amendments to
our Articles of Incorporation, and other matters. The interests of our executive officers and directors may differ from the interests of other stockholders with respect
to the issuance of shares, business transactions with or sales to other companies, selection of other officers and directors and other
business decisions. The minority stockholders will have no way of overriding decisions made by our executive officers and directors acting
as a group.
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