10 unchanged sentences
Since our inception, we have generated substantial net losses as we have devoted our resources to the development of our technology, and our business model has not been proven.
−Removed: As of March 31, 2021, we had an accumulated deficit of $67.3 million.
−Removed: For the year ended December 31, 2020 our total comprehensive loss was $23.4 million and for the three months ended March 31, 2021, our total comprehensive loss was $9.3 million.
+Added: As of June 30, 2021, we had an accumulated deficit of $69.7 million.
+Added: For the year ended December 31, 2020 our total comprehensive loss was $23.4 million and for the six months ended June 30, 2021, our total comprehensive loss was $11.7 million.
We expect our operating expenses to increase in the future as we expand our sales and marketing efforts and continue to invest in our infrastructure and research and development of our technologies.
3 unchanged sentences
Our recurring losses from operations have raised substantial doubt regarding our ability to continue as a going concern.
−Removed: We have incurred recurring losses since inception and, as of March 31, 2021, had an accumulated deficit of $67.3 million.
+Added: We have incurred recurring losses since inception and, as of June 30, 2021, had an accumulated deficit of $69.7 million.
We anticipate operating losses to continue for the foreseeable future due to, among other things, costs related to research funding, further development of our technology and products and expenses related to the commercialization of our products, and it is possible we will never achieve profitability.
2 unchanged sentences
The consolidated financial statements do not include any adjustments that might be necessary should we be unable to continue as a going concern.
−Removed: We expect that our cash and cash equivalents will be sufficient to support our operations through the first half of 2023.
+Added: We expect that our cash and cash equivalents will be sufficient to support our operations through the first quarter of 2023.
We will need to obtain additional funds to satisfy our operational needs and to fund our sales and marketing efforts, research and development expenditures, and business development activities.
It is possible this period could be shortened if there are any significant increases in planned spending or development programs or more rapid progress of development programs than anticipated.
−Removed: Our future capital requirements will depend on many factors including our ability to generate revenue from product sales, the timing and extent of spending to support our sales and marketing, product development and research and development efforts and our needs for working capital to support our business
+Added: Our future capital requirements will depend on many factors including our ability to generate revenue from product sales, the timing and extent of spending to support our sales and marketing, product development and research and development efforts and our needs for working capital to support our
+Added: business operations.
We may in the future enter into arrangements to acquire or invest in complementary businesses, services and technologies, including intellectual property rights.
363 unchanged sentences
Octopus Titan VCT plc and certain related parties (the “Octopus Investors”) have agreed to purchase $2.0 million of our common stock on the same economic terms as the shares of common stock sold in the Offering subject to the satisfaction of certain U.K related tax requirements (the “Octopus Share Purchase”).
−Removed: Under the terms of the Octopus Letter Agreement, the Octopus Share Purchase may not occur before July 1, 2021 or such date as is one year from the end of our last fiscal year.
+Added: Under the terms of the Octopus Letter Agreement, the Octopus Share Purchase could not occur before the later of July 1, 2021 or such date as is one year from the end of our last fiscal year.
In the event that we do not change our fiscal year end from December 31, the Octopus Share Purchase could not occur until January 1, 2022, subject to the satisfaction of the other conditions set forth in the Octopus Letter Agreement.
12 unchanged sentences
If one or more of these analysts cease coverage of us or fail to publish reports on us regularly, we could lose visibility in the financial markets, which in turn could cause our stock price or trading volume to decline.
−Removed: Our principal stockholders and management will continue to have substantial control over us after the offering and could delay or prevent a change in corporate control.
−Removed: Immediately after giving effect to the Exchange, the Stock Forfeiture and the Offering, (1) Octopus Titan VCT Plc became our largest stockholder, owning approximately 25.5 % of our common stock, and (2) our executive officers and directors, together with holders of 5% or more of our outstanding common stock and their respective affiliates, beneficially own 44.4% of our common stock.
−Removed: As a result, these stockholders, acting together have the ability to significantly impact the outcome of matters submitted to our stockholders for approval, including the election of
−Removed: directors and any merger, consolidation, or sale of all or substantially all of our assets.
+Added: Our principal stockholders and management have substantial control over us and could delay or prevent a change in corporate control.
+Added: As a result of the Exchange, the Stock Forfeiture and the Offering, (1) Octopus Titan VCT Plc became our largest stockholder, owning approximately 25.5 % of our common stock, and (2) our executive officers and directors, together with holders of 5% or more of our outstanding common stock and their respective affiliates, beneficially own 52.8% of our common stock.
+Added: As a result, these stockholders, acting together have the ability to significantly impact the outcome of matters submitted to our stockholders for approval, including the election of directors and any merger,
+Added: consolidation, or sale of all or substantially all of our assets.
In addition, these stockholders, acting together, have the ability to significantly impact the management and affairs of our company.
38 unchanged sentences
The failure to receive research coverage or support in the market for shares of our common stock will have an adverse effect on our ability to develop a liquid market for our common stock.
−Removed: Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: Defaults Upon Senior Securities
−Removed: Mine Safety Disclosures
−Removed: Not Applicable.
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.