8 unchanged sentences
We have a limited operating history upon which investors may rely in evaluating our business and prospects.
−Removed: We have generated limited revenues to date, and as of June 30, 2022, we had an accumulated deficit of approximately $351 million.
+Added: We have generated limited revenues to date, and as of September 30, 2022, we had an accumulated deficit of approximately $357 million.
Our ability to generate revenues and achieve profitability will depend on our ability to execute our business plan, complete the development and approval of our technology, incorporate the technology into products that customers wish to buy, and, if necessary, secure additional financing.
9 unchanged sentences
In addition, such securities may contain rights, preferences or privileges senior to those of current stockholders.
−Removed: As a result of potential worsening global economic conditions and general global economic uncertainty (including as a result of actual or perceived disruption caused by COVID-19, including the “delta”, “omicron” or any other variants, or other infectious diseases, the ongoing conflict between Russia and the Ukraine and the global sanctions imposed in response thereto, increases in inflation, fluctuating interest rates and disruptions to global supply chains), political change, and other factors, we do not know whether additional capital will be available when needed, or that, if available, we will be able to obtain additional capital on reasonable terms.
+Added: As a result of potential worsening global economic conditions and general global economic uncertainty (including as a result of actual or perceived disruption caused by COVID-19 or other infectious diseases, the ongoing conflict between Russia and the Ukraine and the global sanctions imposed in response thereto, increases in inflation, fluctuating interest rates and disruptions to global supply chains), political change, and other factors, we do not know whether additional capital will be available when needed, or that, if available, we will be able to obtain additional capital on reasonable terms.
If we are unable to raise additional capital due to the volatile global financial markets, general economic uncertainty or other factors, we may be required to curtail development of our technology or reduce operations as a result, or to sell or dispose of assets.
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If we fail to develop practical and economical commercial products based on our technology, our business may fail and you could lose all or part of the value of your investment in our stock.
−Removed: The outbreak of health epidemics, such as COVID-19, has and may further adversely affect our business, results of operations and financial condition.
−Removed: Any outbreaks of contagious diseases and other adverse public health developments in countries where we, our customers and suppliers operate could have a material and adverse effect on our business, results of operations and financial condition.
−Removed: For example, the COVID-19 pandemic has resulted in significant governmental measures being implemented to control the spread of the virus, including quarantines, travel restrictions, manufacturing restrictions, declarations of states of emergency, business shutdown and restrictions on the movement of employees in China, the United States and many other countries.
−Removed: A majority of our potential customers have a significant dependence on the Chinese manufacturing and supply chain infrastructure.
−Removed: We believe the COVID-19 pandemic has delayed adoption of our technology by potential customers who temporarily shut down their workforces and supply chains based in China and elsewhere around the world.
−Removed: At times, certain of our outsourcing partners, component suppliers and logistical service providers have experienced disruptions, resulting in supply shortages that have affected and may continue to affect our sales.
−Removed: Similar disruptions could occur in the future.
−Removed: In the United States, COVID-19 has resulted in travel and other restrictions in order to reduce the spread of the disease, including executive orders in California and several other state and local orders across the country, which, among other things, direct individuals to shelter at their places of residence, direct businesses and governmental agencies to cease non-essential operations at physical locations, prohibit certain non-essential gatherings, and order cessation of non-essential travel.
−Removed: As a result of these developments, we have implemented work-from-home policies for our employees that will likely remain in effect in some form through the end of 2022 and possibly longer.
−Removed: The effects of state executive orders, local shelter-in-place orders, government-imposed quarantines and our work-from-home policies could negatively impact productivity, disrupt our research and development or other operations and delay the planned launch of our customers’ new products that incorporate our technology, the magnitude of which will depend, in part, on the length and severity of the continuing restrictions and other limitations on our ability to conduct our business in the ordinary course.
−Removed: Several vaccines have been approved for use since the fourth quarter of 2020, with vaccination rates increasing through the first half of 2022.
−Removed: Several new variants of COVID-19 have emerged and may be more transmissible than other variants.
−Removed: Vaccines approved to date have lower efficacy in combating the transmission of some of these new variants, though vaccines appear to protect against severe illness.
−Removed: Due to the continuing developments and fluidity of this situation, the magnitude and duration of the pandemic and its impact on our operations and liquidity are still uncertain as of the date of this report.
−Removed: In addition, COVID-19 has resulted and may continue to result in a widespread health crisis that could contribute to increased market volatility and adversely affect the economies and financial markets of many countries, resulting in a global economic downturn that could affect interest in our products or demand by potential customers.
−Removed: Any of these events could materially and adversely affect our business, results of operations and financial condition.
−Removed: The extent of the impact will depend on future developments, which are highly uncertain and cannot be predicted.
Expanding our business operations as we intend will impose new demands on our financial, technical, operational and management resources.
119 unchanged sentences
Because our industry is characterized by competing intellectual property, we may become involved in litigation based on claims that we have violated the intellectual property rights of others.
−Removed: Determining whether a product infringes a patent involves complex legal and factual issues, and the outcome of patent litigation actions is often uncertain.
+Added: Determining whether a
+Added: product infringes a patent involves complex legal and factual issues, and the outcome of patent litigation actions is often uncertain.
No assurance can be given that third party patents containing claims covering our products, parts of our products, technology or methods do not exist, have not been filed, or could not be filed or issued.
5 unchanged sentences
Some of our competitors may be able to sustain the costs of complex patent litigation more effectively than we can because they have substantially greater resources.
−Removed: In addition, any uncertainties resulting from the initiation and
−Removed: continuation of any litigation could have a material adverse effect on our ability to raise the funds necessary to continue our operations.
+Added: In addition, any uncertainties resulting from the initiation and continuation of any litigation could have a material adverse effect on our ability to raise the funds necessary to continue our operations.
If we become subject to a patent infringement or other intellectual property lawsuit and if the relevant patents or other intellectual property are upheld as valid and enforceable and we are found to have infringed or violated the terms of a license to which we are a party, we could be prevented from selling any infringing products of ours unless we could obtain a license or were able to redesign the product to avoid infringement.
16 unchanged sentences
We pursue the licensing of our technology as a primary means of revenue generation.
−Removed: Creating a licensing business relationship often takes substantial effort, as we expect to have to convince the counterparty of the efficacy of our technology, meet design and manufacturing requirements, satisfy marketing and product needs, and comply with selection, review, and contracting requirements.
+Added: Creating a licensing business relationship often takes substantial effort, as we expect to have to convince the counterparty of the efficacy of our technology, meet design and manufacturing requirements, satisfy marketing and product needs, and comply
+Added: with selection, review, and contracting requirements.
There can be no assurance that we will be able to gain access to potential licensing partners, or that they will ultimately decide to integrate our technology with their products.
9 unchanged sentences
In addition, we design our technology to operate in a RF band that is also used for Wi-Fi routers and other wireless consumer electronics, and we also design it to operate at different frequencies as demanded for some customer applications.
−Removed: Applications at different frequencies may require separate regulatory
+Added: Applications at different frequencies may require separate regulatory approvals.
Efforts to obtain regulatory approval for devices using our technology are costly and time consuming, and there can be no assurance that requisite regulatory approvals will be forthcoming.
19 unchanged sentences
Effective management of our consultants is important to our business and strategy.
−Removed: The failure of our consultants to perform as anticipated could result in substantial costs, divert management’s attention from other strategic activities, or create other operational or financial problems for us.
+Added: The failure of our consultants to
+Added: perform as anticipated could result in substantial costs, divert management’s attention from other strategic activities, or create other operational or financial problems for us.
Terminating or transitioning arrangements with key consultants could result in additional costs and a risk of operational delays, potential errors and possible control issues as a result of the termination or during the transition.
8 unchanged sentences
As a public company, we are required to maintain internal control over financial reporting and to report any material weaknesses in such internal controls.
−Removed: Although our management has determined that our internal control over financial reporting was effective as of December 31, 2021, we cannot assure you that we will not identify any material weakness in our internal control in the future.
+Added: Although our management has determined that our internal control over financial reporting was effective as of September 30, 2022, we cannot assure you that we will not identify any material weakness in our internal control in the future.
We qualify as a “smaller reporting company” and are therefore not required to file an auditor attestation report.
15 unchanged sentences
terrorist acts, acts of war or periods of widespread civil unrest, such as the ongoing conflict between Russia and the Ukraine and the global sanctions imposed in response thereto;
−Removed: natural disasters and other calamities, including global pandemics such as the COVID-19 pandemic, including in particular the “delta” and “omicron” variants;
+Added: natural disasters and other calamities, including global pandemics such as the COVID-19 pandemic;
the limited number of holders of our common stock;
24 unchanged sentences
Our charter documents and Delaware law may inhibit a takeover that stockholders consider favorable.
−Removed: Provisions of our certificate of incorporation and bylaws, and applicable Delaware law, may delay or discourage transactions involving an actual or potential change in control or change in our management, including
−Removed: transactions in which stockholders might otherwise receive a premium for their shares, or transactions that our stockholders might otherwise deem to be in their best interests.
+Added: Provisions of our certificate of incorporation and bylaws, and applicable Delaware law, may delay or discourage transactions involving an actual or potential change in control or change in our management, including transactions in which stockholders might otherwise receive a premium for their shares, or transactions that our stockholders might otherwise deem to be in their best interests.
The provisions in our certificate of incorporation and bylaws:
10 unchanged sentences
General Risk Factors
+Added: The outbreak of health epidemics, such as COVID-19, has and may further adversely affect our business, results of operations and financial condition.
+Added: Any outbreaks of contagious diseases and other adverse public health developments in countries where we, our customers and suppliers operate could have a material and adverse effect on our business, results of operations and financial condition.
+Added: For example, the COVID-19 pandemic resulted in significant governmental measures being implemented to control the spread of the virus, including quarantines, travel restrictions, manufacturing restrictions, declarations of states of emergency and business shutdowns.
+Added: A majority of our potential customers have a significant dependence on the Chinese manufacturing and supply chain infrastructure.
+Added: We believe the COVID-19 pandemic delayed adoption of our technology by potential customers who temporarily shut down their workforces and supply chains based in China and elsewhere around the world.
+Added: At times, certain of our outsourcing partners, component suppliers and logistical service providers have experienced disruptions, resulting in supply shortages that have affected and may continue to affect our sales.
+Added: Similar disruptions could occur in the future.
+Added: In the United States, COVID-19 resulted in travel and other restrictions in order to reduce the spread of the disease.
+Added: As a result of these developments, we have implemented work-from-home policies for our employees that will likely remain in effect in some form through the end of 2022 and possibly longer.
+Added: Several vaccines have been approved for use since the fourth quarter of 2020, with vaccination rates increasing through 2022.
+Added: Several new variants of COVID-19 have emerged and may be more transmissible than other variants.
+Added: Vaccines approved to date have lower efficacy in combating the transmission of some of these new variants, though vaccines appear to protect against severe illness.
+Added: Due to the continuing developments and fluidity of this situation, the magnitude and duration of the pandemic and its impact on our operations and liquidity are still uncertain as of the date of this report.
+Added: In addition, COVID-19 has resulted and may continue to result in a widespread health crisis that could contribute to increased market volatility and adversely affect the economies and financial markets of many countries, resulting in a global economic downturn that could affect interest in our products or demand by potential customers.
+Added: Any of these events could materially and adversely affect our business, results of operations and financial condition.
+Added: The extent of the impact will depend on future developments, which are highly uncertain and cannot be predicted.
An active trading market for our common stock may not be maintained.
14 unchanged sentences
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.