What changed in this filing

/stocks — the workspaceLOADING

Item 1A. Risk Factors

2021-10-13 compared with 2020-10-09 · 119 added, 35 removed, 429 unchanged (26% of the section changed)

12 unchanged sentences

approximately $51.4 million as of June 30, 2021.

These factors, among

others, raise substantial doubt about our ability to continue as a

going concern.

These factors,

among others, raise substantial doubt about our ability to continue

as a going concern.

Our financial statements do not include any

122 unchanged sentences

multi-layered security measures and processes in customer networks,

may lessen the efficacy of our solutions.

Additionally, our

may lessen the efficacy of our solutions.Additionally, our

customers or our channel partners may independently develop

49 unchanged sentences

(formerly known as Symantec Corporation acquired by Broadcom

We also may compete, to a certain extent, with vendors that

We also may compete, to acertain extent, with vendors that

offer products or services in adjacent or complementary markets to

7 unchanged sentences

Some of our competitors are large companies

and have wider technical and financial resources and broader

and have widertechnical and financial resources and broader

customer bases used to bring competitive solutions to the market.

16 unchanged sentences

solutions with limited privileged access management functionality

that may impact our ability to maintain premium market

Our competitors may enjoy potential competitive advantages over us,

name recognition, a longer operating history and a larger customer

base, notwithstanding the increased visibility of our brand in

recent years since our initial public offering;

sales and marketing budgets and resources;

distribution and established relationships with channel partners,

advisory firms and customers;

effectiveness in protecting, detecting and responding to cyber

or localized resources for customer support and provision of

speed at which a solution can be deployed and

resources to make acquisitions;

intellectual property portfolios;

financial, technical and other resources.

that may impact our ability to maintain premium market pricing.

competitors may enjoy potential competitive advantages over us,

greater name recognition, a longer operating history and a larger

customer base, notwithstanding the increased visibility of our

brand in recent years since our initial public

larger sales and marketing budgets and resources;

broader distribution and established relationships with channel

partners, advisory firms and customers;

increased effectiveness in protecting, detecting and responding to

cyber attacks;

greater or localized resources for customer support and provision

greater speed at which a solution can be deployed and

greater resources to make acquisitions;

larger intellectual property portfolios;

greater financial, technical and other resources.

Our current and potential competitors may also establish

48 unchanged sentences

condition could be materially and adversely affected.

If we are unable to increase sales of our solutions to new

customers, our future results of operations may be

An important part of our growth strategy involves continued

investment in direct marketing efforts, channel partner

relationships, and infrastructure to add new customers.

and rate at which new customers may purchase our products and

services depends on a number of factors, including those outside of

our control, such as customers’

perceived need for our

solutions, competition, general economic conditions, market

transitions, product obsolescence, technological change, shifts in

buying patterns, the timing and duration of hardware refresh

cycles, financial difficulties and budget constraints of our

current and potential customers, public awareness of security

threats to IT systems, and other factors.

These new customers, if

any, may renew their contracts with us and purchase additional

solutions at lower rates than we have experienced in the past,

which could affect our financial results.

We rely on large amounts of data from a variety of sources to

support our solutions and the loss of access to or the rights to

use such data could reduce the efficacy of our solutions and harm

our business.

Like many of our industry peers, we leverage large amounts of data

related to threats, vulnerabilities, cyberattacks, and other

cybersecurity intelligence to develop and maintain a number of our

products and services.

We collect, develop and store portions of

this data using third parties and our own technology.

assured that such third parties or our technology that support the

collection, development or storage of such data, and the sources of

such data itself, will continue to be effective or available and

the loss or reduction in quality of such data may adversely impact

the efficacy of our solutions.

Changes in laws or regulations in

the United States or foreign jurisdictions or the actions of

governmental or quasi-governmental entities may increase the costs

to collect, develop or store such data, partially or completely

prohibit use of such, or could result in disclosure of such data to

the public or other third parties, which may reduce its value to us

or as part of our solutions and thereby harm our

We currently have a working capital deficit and negative cash flow

19 unchanged sentences

preferred shares in the future.

We currently do not have sufficient capital to finance the

anticipated recurring costs of being a publicly traded

October 9, 2020, we had approximately $2,600 in cash on hand.

We anticipate

incurring incremental annual costs of approximately $180,000

related to maintaining a publicly traded company.

We will need to

raise additional capital to support our public-company-related

We had $1,735,057 of convertible notes, notes payable, and accrued

3 unchanged sentences

addition to funding our operating expenses, we need capital to pay

various debt obligations totaling approximately $1.9 million as of

June 30, 2020 which are either currently past due or which are due

in the current fiscal year.

various debt obligations totaling approximately $622,260 as of June

30, 2021 which are either currently past due or which are due in

the current fiscal year.

Currently, there is $471,974 principal

39 unchanged sentences

stay at home orders and advisories and quarantining of people who

may have been exposed to the virus.

The Delta

variant of COVID-19, which appears to be the most transmissible and

contagious variant to date, has caused a surge in COVID-19 cases

The impact of the Delta variant, or other variants

that may emerge, cannot be predicted at this time, and could depend

on numerous factors, including the availability of vaccines in

different parts of the world, vaccination rates among the

population, the effectiveness of COVID-19 vaccines against

the Delta variant and other variants, and the response by

governmental bodies to reinstate mandated business closures, orders

to “shelter in place,”

and travel and transportation

restrictions.

COVID-19 pandemic is complex and rapidly changing, the full extent

94 unchanged sentences

lack of a liquid market.

Our Share Price Is Volatile And May Be Influenced By Numerous

Factors That Are Beyond Our Control.

Market prices for shares of technology companies such as ours are

often volatile.

The market price of our common stock may fluctuate

significantly in response to a number of factors, most of which we

cannot control, including:

in digital currency and stock market prices and trading volumes of

similar companies;

market conditions and overall fluctuations in U.S.

of large blocks of our common stock, including sales by our

executive officers, directors and significant

stockholders;

of us or our stock price by the press and by online investor

risks and uncertainties described in these risk

We Have No Current Plans To Pay Dividends On Our Common Stock And

Investors Must Look Solely To Stock Appreciation For A Return On

Their Investment In Us.

We do not anticipate paying any further cash dividends on our

common stock in the foreseeable future.

We currently intend to

retain all future earnings to fund the development and growth of

our business.

Any payment of future dividends will be at the

discretion of our board of directors and will depend on, among

other things, our earnings, financial condition, capital

requirements, level of indebtedness, statutory and contractual

restrictions applying to the payment of dividends and other

considerations that the board of directors deems relevant.

Investors may need to rely on sales of their common stock after

price appreciation, which may never occur, as the only way to

realize a return on their investment.

Investors seeking cash

dividends should not purchase our common stock.

Unresolved Staff Comments.

our principal executive offices from an unrelated third party on a

month-to-month basis for a monthly rental of $496.

Our principal offices are located at

4094 Majestic Lane, Suite 360, Fairfax, Virginia 22033.

rent our principal executive office from an unrelated third party

on an annual basis for $420 per year.

currently operate in a virtual office arrangement.

Our telephone number is (703)

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