What changed in this filing

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Item 1A. Risk Factors

2022-03-31 compared with 2021-03-31 · 22 added, 62 removed, 1 unchanged (99% of the section changed)

Item 1A Risk Factors

may be events in the future that we are not able to accurately

predict or over which we have no control.

The risk factors listed

below, as well as any cautionary language in this report, provide

examples of risks, uncertainties and events that may cause our

actual results to differ materially from the expectations we

describe in our forward-looking statements.

If we were liquidated, our common

stockholders could lose part, or all, of their

event of our dissolution, the proceeds, if any, realized from the

liquidation of our assets will be distributed to our stockholders

only after the satisfaction of the claims of our creditors and

preferred stockholders.

The ability of a purchaser of shares to

recover all, or any portion, of the purchase price for the shares,

in that event, will depend on the amount of funds realized and the

claims to be satisfied by those funds.

We may have un-asserted liabilities for environmental

research, development, manufacturing and production processes

involve the controlled use of hazardous materials, and we are

subject to various environmental and occupational safety laws and

regulations governing the use, manufacture, storage, handling, and

disposal of hazardous materials and some waste products.

of accidental contamination or injury from hazardous materials

cannot be completely eliminated.

In the event of an accident, we

could be held liable for any damages that result and any liability

could exceed our financial resources.

We also have one ongoing

environmental reclamation and remediation project at our current

production facility in Montana.

Adequate financial resources may

not be available to ultimately finish the reclamation activities if

changes in environmental laws and regulations occur, and these

changes could adversely affect our cash flow and profitability.

do not have environmental liability insurance now, and we do not

expect to be able to obtain insurance at a reasonable cost.

incur liability for environmental damages while we are uninsured,

it could have a harmful effect on our financial condition and

results of operations.

The range of reasonably possible losses from

our exposure to environmental liabilities in excess of amounts

accrued to date cannot be reasonably estimated at this

We have accruals for asset retirement obligations and environmental

accruals totaling $291,719 on our balance sheet at December 31,

2020, for our environmental reclamation responsibilities and

estimated asset retirement obligations.

If we are not able to

adequately perform these activities on a timely basis, we could be

subject to fines and penalties from regulatory

Global health crises may adversely affect our planned

business could be materially and adversely affected by the risks,

or the public perception of the risks, related to a pandemic or

other health crisis, such as the recent outbreak of novel

coronavirus (COVID-19).

A significant outbreak of contagious

diseases in the human population could result in a widespread

health crisis that could adversely affect our planned operations.

Such events could result in the complete or partial closure of our

In addition, it could impact economies and financial

markets, resulting in an economic downturn that could impact our

ability to raise capital.  

There may be events in the future that we are not able to accurately predict or over which we have no control.

The risk factors listed below, as well as any cautionary language in this report, provide examples of risks, uncertainties and events that may cause our actual results to differ materially from the expectations we describe in our forward-looking statements.

If we were liquidated, our common stockholders could lose part, or all, of their investment .

In the event of our dissolution, the proceeds, if any, realized from the liquidation of our assets will be distributed to our stockholders only after the satisfaction of the claims of our creditors and preferred stockholders.

The ability of a purchaser of shares to recover all, or any portion, of the purchase price for the shares, in that event, will depend on the amount of funds realized and the claims to be satisfied by those funds.

We may have unasserted liabilities for environmental reclamation.

Our research, development, manufacturing and production processes involve the controlled use of hazardous materials, and we are subject to various environmental and occupational safety laws and regulations governing the use, manufacture, storage, handling, and disposal of hazardous materials and some waste products.

The risk of accidental contamination or injury from hazardous materials cannot be completely eliminated.

In the event of an accident, we could be held liable for any damages that result and any liability could exceed our financial resources.

We also have one ongoing environmental reclamation and remediation project at our current production facility in Montana.

Adequate financial resources may not be available to ultimately finish the reclamation activities if changes in environmental laws and regulations occur, and these changes could adversely affect our cash flow and profitability.

We do not have environmental liability insurance now, and we do not expect to be able to obtain insurance at a reasonable cost.

If we incur liability for environmental damages while we are uninsured, it could have a harmful effect on our financial condition and results of operations.

The range of reasonably possible losses from our exposure to environmental liabilities in excess of amounts accrued to date cannot be reasonably estimated at this time.

We have accruals for asset retirement obligations and environmental obligations.

We have accruals totaling $298,649 on our balance sheet at December 31, 2021, for our environmental reclamation responsibilities and estimated asset retirement obligations.

If we are not able to adequately perform these activities on a timely basis, we could be subject to fines and penalties from regulatory agencies.

Global health crises may adversely affect our planned operations.

Our business could be materially and adversely affected by the risks, or the public perception of the risks, related to a pandemic or other health crisis, such as the recent outbreak of novel coronavirus (COVID-19).

A significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect our planned operations.

Such events could result in the complete or partial closure of our operations.

In addition, it could impact economies and financial markets, resulting in an economic downturn that could impact our ability to raise 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.

What changed 10-K

Item 1A. Risk Factors