Our business, financial condition, results of operations, and cash flows may be impacted by a number of factors, many of which are beyond our control, including those set forth in our most recent Annual Report on Form 10-K and in our other filings with the SEC, the occurrence of any one of which could have a material adverse effect on our actual results.
−Removed: There have been no material changes to the Risk Factors previously disclosed in our Annual Report on Form 10-K and our other filings with the SEC, except as follows:
−Removed: We are in the process of moving an RPC from Vernal, Utah to Kuwait.
−Removed: If we are unable to complete this move or unable to properly refurbish the RPC to operate in Kuwait we could incur substantial losses.
−Removed: In connection with our Services Agreement with Al Dali International for Gen.
−Removed: Trading & Cont.
−Removed: (“DIC”), we are in the process of relocating, refurbishing, and installing an RPC from Vernal, Utah to DIC’s location in Kuwait.
−Removed: The installation of this RPC in Kuwait will allow us to perform our obligations under the Services Agreement.
−Removed: In the event we are unable to successfully transfer the RPC to Kuwait and/or refurbish the RPC to operate in Kuwait we could incur substantial losses related to our loan with DIC and in potentially moving the RPC to another location.
−Removed: We are building a new facility near Houston, Texas to place an RPC and perform wash plant services.
−Removed: If we are not successful in installing our RPC and/or building out the wash plant facility we could incur substantial losses.
−Removed: Under our agreement with Maxus Capital Group, LLC (“Maxus”), we are building out a facility on land we lease near Houston, Texas and are obligated to pay Maxus approximately $58,000 per month for four years In the event we are not able to place on RPC at the facility and/or are unable to build out the facility to perform wash plant services, we could default on our obligation to Maxus, which could cause us substantial losses.
−Removed: The current Israeli/Hamas conflict could impact our ability to operate in the Middle East in the future.
−Removed: Although the current Israeli/Hamas conflict is currently contained in Israel and the Gaza Strip, any escalation of the conflict involving additional Middle East countries could impact our ability to operate our Remediation Processing Centers located in Kuwait in the future, which could have a material impact on our Middle East projects and our ability to monetize those projects in the future.
−Removed: We are subject to the significant influence of one of our current officers and directors, and his interests may not always coincide with those of our other stockholders.
−Removed: James Ballengee, one of our officers and directors, and Chairperson of the Board of Directors, beneficially owns approximately 41.86% of our outstanding Common Stock.
−Removed: As a result, Mr.
−Removed: Ballengee is able to significantly influence all matters requiring approval by our stockholders, including the election of directors and the approval of mergers or other business combination transactions.
−Removed: Because the interests of Mr.
−Removed: Ballengee may not always coincide with those of our other stockholders, such stockholder may influence or cause us to take actions with which our other stockholders disagree.
+Added: There have been no material changes to the Risk Factors previously disclosed in our Annual Report on Form 10-K and our other filings with the SEC.
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.