1 unchanged sentence
Market Information
−Removed: Our common stock is traded on the Nasdaq Global Market under the symbol SMXT.
−Removed: As of April 10, 2024, we had 74 stockholders of record.
+Added: Our common stock is traded on the Nasdaq Stock Market under the symbol SMXT.
+Added: As of March 15, 2025, we had 81 stockholders of record.
Based on information provided to us we believe that we have more than 1,500 beneficial owners of our common stock.
16 unchanged sentences
The net proceeds from our initial public offering were approximately $18.6 million.
−Removed: As of March 31, 2024, we used approximately $0.8 million to make payments due to our former executive vice president and $0.1 million to a former employee pursuant to our agreements with them.
−Removed: We also used $2.9 million to pay the principal payments due on the convertible debentures issued to the former limited partners of CEF pursuant to the terms of the debentures.
−Removed: The balance is being held in short-term interest-bearing deposits and securities.
+Added: As of March 15, 2025, we used approximately $0.8 million to make compensation payments due to our former executive vice president and $0.1 million to a former employee pursuant to our agreements with them.
+Added: Our initial public offering was commenced on February 28, 2024 pursuant to a registration statement on Form S-1, File.
+Added: 333-26606, which was declared effective by the SEC on February 12, 2024.
+Added: We invested $7.0 million from the proceeds of our initial public offering in an 8% promissory note issued by Webao Limited, a Hong Kong based social media company.
+Added: The initial maturity was June 1, 2024 and it was extended twice at the request of the maker to June 30, 2025.
+Added: Our China segment invested RMB 5,000,000, or approximately $688,000, in a 5% note due June 25, 2024 issued by Qingdao Xiaohuangbei Technology Co., Ltd., a PRC-based company.
+Added: The initial maturity was June 25, 2024 and it was extended twice at the request of the maker to June 30, 2025.
+Added: These notes are shown on our balance sheet as short-term investments.
+Added: The full principal amount of these notes is outstanding on the date of this annual report.
+Added: The balance of the proceeds was used for working capital, which included $5.5 million principal payments on convertible notes and $276,000 payment on legal settlement with former EB-5 noteholders.
+Added: Recent Sale of Common Stock
+Added: On March 19, 2025, we issued to an accredited investor 561,798 shares of common stock to at $0.89 per share, reflecting a 25% discount from the market price of the common stock, for a total purchase price of $500,000.
+Added: No broker was involved in the sale.
+Added: The issuance of the shares was exempt from registration pursuant to Section 4(a)(2) of the Securities Act as a transaction not involving a public offering.
+Added: The proceeds from the sale are being used for working capital.
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.