Private company
Crown Electrokinetics Corp.
American electronic components company based in Corvallis1
In its 2025 annual report the company says: “Crown Electrokinetics Corp. is an innovative infrastructure solutions provider dedicated to benefiting communities and the environment. Our electrokinetic EK film technology was derived from proprietary ink and microfluidic technology developed at HP Inc. Our EK film technology utilizes nanometer-sized pigment particles that are electrically charged and suspended in a liquid that is sandwiched between two clear substrates that are coated with a transparent conductor oxide film.”4
Last updated Oct 20, 2026.
Overview
- IndustryElectronic Components, NEC1
- HeadquartersCorvallis, Oregon1
- Incorporated inDE2
- Business address1110 Ne Circle Blvd, Corvallis, Or 973302
- Filer categoryNon-accelerated filer, Smaller reporting company2
- Legal formCorporation
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Crown Electrokinetics Corp. (“Crown,” “we,” or the “Company”) is an innovative infrastructure solutions provider dedicated to benefiting communities and the environment. Comprised of three business divisions, Smart Windows, Fiber Optics, and Water Solutions, Crown is developing and delivering cutting edge solutions that are challenging the status quo and redefining industry standards.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2024
Where the money goes
Where each dollar of revenue went, fiscal 2024
- Research and development14¢$3.4M
- Selling, general and admin86¢$20.0M
Out of $19.7M in revenue.5 The company lost money this year.
Financial statements
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Revenue | $504.8K6 | $100.0K7 | $153.0K5 | $19.7M5 | |||
| Cost of revenue | $614.0K6 | $620.0K7 | $886.0K8 | ||||
| Gross profit | -$109.2K6 | -$520.0K7 | -$781.0K5 | -$714.0K5 | |||
| Research and development | $712.1K6 | $1.8M7 | $3.5M7 | $4.1M8 | $2.8M5 | $3.4M5 | |
| Selling, general and admin | $1.8M6 | $5.5M7 | $15.8M7 | $10.5M8 | $15.1M5 | $20.0M5 | |
| Operating expenses | $15.1M12 | $18.5M5 | $23.4M5 | ||||
| Operating income | -$2.6M6 | -$7.8M7 | -$19.4M7 | -$15.1M8 | -$19.3M5 | -$24.1M5 | |
| Interest | $1.1M6 | $1.5M7 | $3.2M7 | $7.0K8 | $9.4M8 | ||
| Income before tax | -$14.3M8 | -$29.0M5 | -$25.9M5 | ||||
| Income tax | $05 | $05 | |||||
| Net income | -$4.3M6 | -$9.6M7 | -$40.8M7 | -$14.3M8 | -$29.0M5 | -$25.9M5 | |
| Earnings per share | -$54.128 | -$109,044.125 | -$548.265 | ||||
| Earnings per share (diluted) | -$54.128 | -$109,044.125 | -$548.265 | ||||
| Shares (weighted, basic) | 265.5K shares8 | 272 shares5 | 59.2K shares5 | ||||
| Shares (weighted, diluted) | 265.5K shares8 | 272 shares5 | 59.2K shares5 |
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Cash | $168.2K6 | $99.4K6 | $48.3K7 | $6.1M8 | $821.0K8 | $1.1M5 | $13.7M5 |
| Receivables | $83.0K5 | $5.4M5 | |||||
| Current assets | $191.1K6 | $61.0K7 | $6.8M12 | $1.4M8 | $1.9M5 | $23.6M5 | |
| Property, plant and equipment | $895.0K12 | $1.4M8 | $3.1M5 | $8.3M5 | |||
| Goodwill | $652.0K8 | ||||||
| Intangible assets | $1.8M12 | $1.6M12 | $1.4M5 | $1.2M5 | |||
| Total assets | $673.0K6 | $388.6K7 | $9.7M12 | $6.6M8 | $9.5M5 | $35.0M5 | |
| Accounts payable | $358.0K12 | $865.0K8 | $1.5M8 | ||||
| Current liabilities | $4.1M6 | $7.3M7 | $664.0K12 | $4.7M8 | $3.8M5 | $11.1M5 | |
| Long-term debt | $924.0K5 | ||||||
| Total liabilities | $4.1M6 | $7.3M7 | $664.0K12 | $6.1M8 | $4.8M5 | $12.7M5 | |
| Retained earnings | -$73.7M12 | -$88.0M8 | -$117.0M5 | -$142.9M5 | |||
| Shareholders’ equity | -$501.8K6 | -$3.4M7 | -$7.0M7 | $9.0M8 | $530.0K5 | $4.7M5 | $22.2M5 |
| Shares outstanding | 9.9M shares6 | 27.1M shares6 | 14.5M shares12 | 338.0K shares8 | 1.1K shares5 | 790.8K shares5 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Cash from operations | -$1.6M6 | -$1.0M7 | -$6.6M7 | -$11.1M8 | -$16.2M5 | -$18.2M5 | |
| Depreciation and amortization | $503.0K8 | $733.0K5 | $1.1M5 | ||||
| Stock-based compensation | $986.0K12 | $2.4M8 | $714.0K5 | $5.2M5 | |||
| Capital spending | $751.0K8 | $2.2M5 | $6.1M5 | ||||
| Free cash flow | -$11.9M | -$18.3M | -$24.3M | ||||
| Cash from investing | -$812.0K8 | -$2.8M5 | -$6.2M5 | ||||
| Cash from financing | $6.6M8 | $19.2M5 | $37.0M5 | ||||
| Dividend per share | $1.198 |
Corporate structure
Crown Electrokinetics Corp. sits at the top of its group. 8 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Crown Electrokinetics Corp.
- Long Grove Partners, LLC Filed SC 13G/A on Crown Electrokinetics Corp., latest Aug 13, 2024 (2 filings since Mar 15, 2023)
- BARD ASSOCIATES INC Filed SC 13G/A on Crown Electrokinetics Corp., latest Jan 4, 2024 (2 filings since Feb 6, 2023)
- ZI Ventures LLC Filed SC 13G/A on Crown Electrokinetics Corp., latest Feb 7, 2023 (2 filings since Sep 16, 2022)
- Apollo Management Group, Inc Filed SC 13G on Crown Electrokinetics Corp., latest Nov 19, 2021
- Crown Electrokinetics Corp. Corvallis, Oregon
- CMG Pipelines XXL Inc. Subsidiary · Delaware, United States
- Crown Construction Holdings Corp. Subsidiary · Delaware, United States
- Crown Fiber Optics Corp. Subsidiary · Delaware, United States
- Crown Water Solutions Holdings Corp. Subsidiary · Delaware, United States
- Element 82 Inc. Subsidiary · Delaware, United States
- Paramount Network Construction Inc. Subsidiary · Delaware, United States
- PE Pipelines Inc. Subsidiary · Delaware, United States
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Crown Electrokinetics Corp. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $10.1M5 Dec 31, 2024 | $4.0M5 Dec 31, 2023 | +150.3% |
| Accumulated depreciation | $1.8M5 Dec 31, 2024 | $919.0K5 Dec 31, 2023 | +95.5% |
| Property and equipment, net | $8.3M5 Dec 31, 2024 | $3.1M5 Dec 31, 2023 | +166.4% |
| Operating-lease assets (leased space) | $1.8M5 Dec 31, 2024 | $1.7M5 Dec 31, 2023 | +4.4% |
Real estate and locations
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $13.7M5 Dec 31, 2024 | $1.1M5 Dec 31, 2023 | +1193.6% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $652.0K8 Dec 31, 2023 | ||
| Finite-lived intangibles, gross | $2.2M5 Dec 31, 2024 | $2.2M5 Dec 31, 2023 | 0% |
| Accumulated amortization | $1.0M5 Dec 31, 2024 | $797.0K5 Dec 31, 2023 | +27.7% |
| Finite-lived intangibles, net | $1.2M5 Dec 31, 2024 | $1.4M5 Dec 31, 2023 | −16.1% |
| Patents, net | $1.8M5 Dec 31, 2024 | $1.8M5 Dec 31, 2023 | 0% |
| Customer relationships, net | $3.0K5 Dec 31, 2024 | $4.0K5 Dec 31, 2023 | −25.0% |
Properties, in its own words
In March 2021, we entered into a lease agreement with Hudson, to lease 3,500 square feet of office space located in Los Angeles, California. The lease term is 39 months and expires on June 30, 2024. In April 2024, the Company entered into the first amendment for the Hudson lease to revise the payment schedule for the remaining lease term expiring on June 30, 2024. Subsequently, the Company entered into the second amendment in June 2024 to extend the lease term. The second amended lease expires in September 2027.
The Smart Windows division leases and subleases various office and laboratory spaces under non-cancelable operating leases with various expiration dates through fiscal 2027, certain of which contain renewal provisions. These renewal provisions are not reasonably certain to be exercised and therefore are not factored into the determination of lease payments. The Smart Windows division has no lease agreements that are classified as finance leases.
The rest of Item 2
Leases Under the Fiber Optics Division
The Fiber Optics division leases various offices, storage spaces, and equipment under non-cancelable operating leases. These leases have expiration dates through fiscal 2026. Certain leases include renewal options; however, these renewal options are not considered reasonably certain to be exercised and are therefore excluded from the calculation of lease payments. The Fiber Optics division does not have any lease agreements classified as finance leases.
We believe that our facilities are adequate to meet our needs for the immediate future and that, should it be needed, we will be able to secure additional space to accommodate the expansion of our operations.
Item 2 of the 10-K filed Mar 31, 2025.4
Leadership
Who has led Crown Electrokinetics Corp., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
- Chief executive officerDouglas B. Croxall Feb 1, 2021 to now13
- PresidentEdward Kovalik Feb 25, 2021 to Dec 17, 202114
- PresidentKaijiro Sato Feb 26, 2021 to Dec 17, 202115
- Chief financial officerPhilip J. Anderson Jan 28, 2021 to Jan 28, 202116
- Chief financial officerJoel Krutz Jul 1, 2021 to now17
- Chief operating officerJoel Krutz Mar 28, 2024 to now18
- Chief operating officerEdward Kovalik Feb 25, 2021 to Dec 17, 202114
Board members and other officers (9)
- Chief Technology OfficerTimothy Koch Jan 28, 2021 to Jan 28, 202119
- Board memberDaniel Marcus Apr 29, 2025 to now20
- Board memberJoel Krutz Mar 28, 2024 to now18
- Board memberDipanjan Nag Jan 28, 2021 to now21
- Board memberEdward Kovalik Jan 28, 2021 to Dec 17, 202122
- Board memberJohn P. Marchese Jan 28, 2021 to Jan 28, 202123
- Board memberGary C. Hanna Mar 9, 2021 to Mar 9, 202124
- Board memberGizman I. Abbas Mar 9, 2021 to Mar 9, 202125
- Board memberDouglas B. Croxall Dec 17, 2021 to now26
Named in SEC Form D filings
People the company listed in its private-offering notices.
- DirectorDJ Nag named Nov 7, 2022 to Jan 11, 202327
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- CMG Pipelines XXL Inc. Delaware3
- Crown Construction Holdings Corp. Delaware3
- Crown Fiber Optics Corp. Delaware3
- Crown Water Solutions Holdings Corp. Delaware3
- Element 82 Inc. Delaware3
- PE Pipelines Inc. Delaware3
- Paramount Network Construction Inc. Delaware3
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Jan 16, 20268-K Change of auditor28
- Jan 8, 20268-K Entered a material agreement; Completed an acquisition or sale29
- Oct 22, 20258-K Executive or director change30
- Sep 17, 20258-K Change of auditor31
- Aug 26, 20258-K Executive or director change; Regulation FD disclosure32
- Aug 4, 20258-K Change of auditor33
- Jul 18, 20258-K Entered a material agreement; Ended a material agreement; Executive or director change34
- Jul 7, 20258-K Entered a material agreement35
- Jun 27, 20258-K Executive or director change36
- Jun 9, 20258-K Entered a material agreement; Other events37
- May 20, 20258-K Bylaws or fiscal year changed38
- Apr 11, 20258-K Ended a material agreement39
- Feb 1, 2021New chief executive Douglas B. Croxall becomes CEO13
Calendar
When it reported results
- Mar 30, 2022Reported quarterly or annual results40
- Nov 12, 2021Reported quarterly or annual results41
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
175 filings to the SEC since October 2021: 4 annual reports, 11 quarterly reports, 63 major events, 16 insider forms, 7 large holders, 2 private raises, 72 other. The latest 20:
- Apr 23, 2026SEC STAFF ACTION EDGAR
- Jan 16, 20268-K CURRENT REPORT EDGAR
- Jan 8, 20268-K CURRENT REPORT EDGAR
- Oct 22, 20258-K EDGAR
- Sep 17, 20258-K CURRENT REPORT EDGAR
- Aug 26, 20258-K CURRENT REPORT EDGAR
- Aug 15, 2025NT 10-Q NOTIFICATION OF LATE FILING EDGAR
- Aug 4, 202525 EDGAR
- Aug 4, 20258-K CURRENT REPORT EDGAR
- Jul 18, 20258-K CURRENT REPORT EDGAR
- Jul 7, 20258-K CURRENT REPORT EDGAR
- Jun 27, 20258-K CURRENT REPORT EDGAR
- Jun 9, 20258-K CURRENT REPORT EDGAR
- May 20, 20258-K EDGAR
- May 15, 202510-Q EDGAR
- May 7, 20254 EDGAR
- May 7, 20253 EDGAR
- Apr 29, 20254 EDGAR
- Apr 29, 20254 OWNERSHIP DOCUMENT EDGAR
- Apr 29, 20253 OWNERSHIP DOCUMENT EDGAR
The 175 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
1 open-market trades by officers, directors and large owners since October 2021: 0 buys and 1 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Nov 10, 2021 | CROXALL DOUGLAS BChief Executive Officer | Sale | 1,000,000 | $0.90 | $900.0K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Long Grove Partners, LLCSC 13G/A, 2 filings Mar 15, 2023 to Aug 13, 202442
- BARD ASSOCIATES INCSC 13G/A, 2 filings Feb 6, 2023 to Jan 4, 202443
- ZI Ventures LLCSC 13G/A, 2 filings Sep 16, 2022 to Feb 7, 202344
- Apollo Management Group, IncSC 13G, 1 filing Nov 19, 202145
Money raised
Private offerings the company reported to the SEC on Form D.
SEC filer profile
How Crown Electrokinetics Corp. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARCrown Electrokinetics Corp.1
- CIK0001761696
- Employer ID (EIN)47-54239444
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
- Incorporated inDelaware4
- Fiscal year endsDecember 311
- Industry code (SIC)3679 Electronic Components, NEC1
- SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
- Business address1110 Ne Circle Blvd, Corvallis, OR 973301
- Phone800-674-36121
- Shares outstanding1,738,224 as of May 12, 202511
- Public float$14.8M as of Jun 30, 20244
- AuditorBPM LLP, San Jose, California PCAOB ID 207; no auditor attestation of internal control over financial reporting4
- On EDGAR sinceDec 28, 20181
- Filings247 in all: 8-K (76), 10-Q (17), 3 (15), CORRESP (15), UPLOAD (13), 4 (12), EFFECT (10), 424B4 (8)1
All 37 form types
424B5 (8), NT 10-Q (7), S-1 (6), S-1/A (6), S-3 (6), 10-K (5), DEF 14A (5), PRE 14A (5), SC 13G (4), D (3), S-8 (3), SC 13D (3), SC 13G/A (3), DEFA14A (2), 10-KT (1), 25 (1), 4/A (1), 8-A12B (1), 8-K/A (1), CERT (1), DRS (1), DRS/A (1), DRSLTR (1), PRE 14C (1), RW (1), S-1MEF (1), S-8 POS (1), SEC STAFF ACTION (1), SUPPL (1)
- Latest filingsAnnual report (10-K) Mar 31, 2025
Quarterly report (10-Q) May 15, 2025
Proxy statement (DEF 14A) Dec 26, 2024
Latest 8-K (8-K) Jan 16, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, Par Value $0.0001 Per Share | CRKN | Nasdaq |
From the cover page of the 10-K filed Mar 31, 2025 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks Crown Electrokinetics Corp. names in Item 1A of its 10-K filed Mar 31, 2025: 68 risks under these headings, as written.4
- Risks Related to Our Business
- We may require additional funding to sustain our ongoing operations and to continue our research and development activities.
- We have a history of operating losses, and although we anticipate that we will achieve profitability in 2025, we may never achieve or sustain profitability.
- We may not generate sufficient cash flows to cover our operating expenses.
- We currently rely upon our vendors to provide elements of the manufacturing tooling.
- Electrokinetic products face intense competition, which could affect our ability to increase our revenues.
- Declining production of automobiles and real estate could harm our business.
- Dependence on electrokinetic technology.
- Our patents and other protective measures may not adequately protect our proprietary intellectual property, and we may be infringing on the rights of others.
- Our future growth and success is dependent upon the real estate industry’s willingness to adopt smart glass and specifically our products, especially in the smart glass market which we are targeting with DynamicTintTM.
- Our new electrokinetic products and services may not be successful.
- If we are unable to establish and maintain confidence in our long-term business prospects among business customers, analysts and within our industries, then our financial condition, operating results, and business prospects may suffer materially.
The other 57 risks
- Our operating and financial results forecast relies in large part upon assumptions and analyses developed by us. If these assumptions or analyses prove to be incorrect, our actual operating results may be materially different from our forecasted results.
- Disruption of supply or shortage of materials, in particular for glass, could harm our business.
- Increases in cost of materials could harm our business.
- We may be unable to meet our growing production demand, product sales, delivery plans and servicing needs, or accurately project and manage this growth nationwide or internationally, which could harm our business and prospects.
- We rely on complex machinery for our operations, and production involves a significant degree of risk and uncertainty in terms of operational performance and costs.
- If our electrokinetic products fail to perform as expected, our ability to develop, market and sell our products and services could be harmed.
- We may choose to or be compelled to undertake product recalls or take other similar actions, which could adversely affect our brand image and financial performance.
- We must successfully maintain and upgrade our information technology systems.
- We rely on certain third-party providers of licensed software and services integral to the operations of our business.
- Any unauthorized control or manipulation of our products’ systems could result in loss of confidence in us and our products and harm our business.
- If our security controls are breached or unauthorized or inadvertent access to business customers’ information or other data are otherwise obtained, our services may be perceived as insecure, we may lose existing business customers or fail to attract new business customers, our business may be harmed, and we may incur significant liabilities.
- Our products and our website, systems, and data we maintain may be subject to intentional disruption, other security incidents, or alleged violations of laws, regulations, or other obligations relating to data handling that could result in liability and adversely impact our reputation and future sales.
- Our Fiber Optics Division is dependent on the communications industry and may be susceptible to the risks associated with it, which could materially adversely affect its business, financial position or results of operations.
- Any failure of our Fiber Optics Division’s physical infrastructure or services could lead to significant costs and disruptions.
- If our Fiber Optics Division is unable to accurately estimate the overall risks, revenues or costs on our projects, we may incur contract losses or achieve lower profits than anticipated.
- Demand for our construction services may decrease during economic recessions or volatile economic cycles, and a reduction in demand in end markets may adversely affect our business.
- Our dependence on suppliers of materials and subcontractors could increase our costs and impair our ability to complete contracts on a timely basis or at all.
- Timing of the award and performance of new construction contracts may fluctuate.
- Adverse weather conditions may cause delays, which could slow completion of our construction activity.
- Adverse developments in the credit markets may impair our ability to secure debt financing.
- Loss of a major customer could result in a decrease in our future sales and earnings.
- If we are unable to achieve our targeted manufacturing costs for our products, our financial condition and operating results will suffer.
- We are exposed to fluctuations in currency exchange rates, which could affect our financial results.
- We are subject to collection risks.
- Future transactions could pose risks.
- Risks Related to our Human Capital
- We are dependent on key personnel.
- If we or our subcontractors are unable to comply with applicable immigration laws, our ability to successfully complete contracts may be negatively impacted.
- We are subject to labor and employment laws and regulations, which could increase our costs and restrict our operations in the future.
- Our business may be adversely affected by any disruptions caused by union activities.
- Risks Related to Legal and Regulatory Matters
- Our electrokinetic products and services are subject to substantial regulations, which are evolving, and unfavorable changes or failure by us to comply with these regulations could substantially harm its business and operating results.
- We are subject to various government regulations that could impose substantial costs upon us and negatively impact our ability to operate our manufacturing facility.
- Many of our electrokinetic products must comply with local building codes and ordinances, and failure of our products to comply with such codes and ordinances may have an adverse effect on its business.
- Compliance with the regulations of the U.S. Occupational Safety and Health Administration (“OSHA”) can be costly, and non-compliance with such requirements may result in potentially significant monetary penalties, operational delays, negative publicity and adverse effect on our financial condition.
- We may fail to obtain or maintain necessary licenses or otherwise fail to comply with applicable laws and regulations.
- We are subject to requirements relating to environmental and safety regulations and environmental remediation matters which could adversely affect its business, results of operation and reputation.
- Climate change and related laws and regulations could adversely affect us.
- Changes in U.S. and international trade policies, including the export and import controls and laws, may adversely impact our business and operating results.
- The U.S. Congress, the Trump administration, or any new administration may make substantial changes to fiscal, tax, and other federal policies that may adversely affect our business.
- Efforts to reduce the U.S. federal deficit could adversely affect our liquidity, results of operations and financial condition.
- Our insurance strategy may not be adequate to protect us from all business risks.
- Risks Related to Our Common Stock
- Our common stock is currently suspended on the Nasdaq Capital Market, subject to delisting, and our common stock currently is quoted on the OTC markets, which results in a limited public market for our common stock and may make obtaining future debt or equity financing more difficult for us.
- If our shares of common stock become subject to the penny stock rules, it would become more difficult to trade our shares.
- Our stock price may be volatile, which could result in substantial losses to investors and litigation.
- The sale or availability for sale of substantial amounts of our common stock could adversely affect the market price of our common stock.
- Our certificate of incorporation and bylaws, and certain provisions of Delaware corporate law, contain provisions that could delay or prevent a change in control even if the change in control would be beneficial to our stockholders.
- If equity research analysts do not publish research or reports about our business, or if they issue unfavorable commentary or downgrade our common stock, the market price of our common stock will likely decline.
- We do not anticipate paying any dividends on our common stock for the foreseeable future.
- We incur costs and demands upon management as a result of complying with the laws and regulations affecting public companies.
- If we fail to develop and maintain proper and effective internal control over financial reporting, our ability to produce timely and accurate financial statements, comply with applicable laws and regulations, or access the capital markets could be impaired.
- Until December 31, 2024, we were an “emerging growth company,” which may have reduced the amount of information available to investors.
- Due to the recent implementation of the Reverse Stock Splits, the liquidity of our common stock may be adversely effected.
- We have issued shares of common stock under the ELOCs which have not been paid for, which may adversely affect the holders of our common stock.
- It is not possible to predict the actual number of shares we will sell under the ELOCs, or the actual gross proceeds resulting from those sales.
- It is not possible to predict the actual number of shares we will sell under our ATM Program, or the actual gross proceeds resulting from those sales.
- The issuance of additional shares of common stock, including upon exercise of our outstanding warrants, the issuance of shares pursuant to the ELOCs, and/or the issuance of shares pursuant to the ATM Program, would substantially dilute the ownership interest of existing stockholders.
- Risks Related to our Indebtedness
- The requirement that we service our indebtedness could limit the cash flow available for our operations and have other consequences that could adversely affect our business, and we may not have sufficient cash flow from our business to pay our debt obligations.
- Our financial condition and results of operations could be adversely affected if we do not effectively manage our current or future debt.
Legal proceedings
No director of executive officer is currently subject to any litigation that could materially affect our company. No director or executive officer has been a director or executive officer of any business which has filed a bankruptcy petition or had a bankruptcy petition filed against it during the past ten years. Except as described below, no current director or executive officer has been convicted of a criminal offense or is the subject of a pending criminal proceeding during the past ten years. No current director or executive officer has been the subject of any order, judgment or decree of any court permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities or banking activities during the past ten years. No current director or officer has been found by a court to have violated a federal or state securities or commodities law during the past ten years.
From time to time, we may become a party to litigation and subject to claims incident to the ordinary course of our business. Although the results of such litigation and claims in the ordinary course of business cannot be predicted with certainty, we believe that the final outcome of such matters will not have a material adverse effect on our business, results of operations or financial condition. Regardless of outcome, litigation can have an adverse impact on us because of defense costs, diversion of management resources and other factors. Currently, there is no litigation pending against our company or any director or officer, or any associate that could materially affect the Company.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14SEC EDGAREdward Kovalik, President
- 15SEC EDGARKaijiro Sato, President
- 16
- 17SEC EDGARJoel Krutz, Chief financial officer
- 18SEC EDGARJoel Krutz, Chief operating officer
- 19
- 20SEC EDGARDaniel Marcus, Board member
- 21SEC EDGARDipanjan Nag, Board member
- 22SEC EDGAREdward Kovalik, Board member
- 23SEC EDGARJohn P. Marchese, Board member
- 24SEC EDGARGary C. Hanna, Board member
- 25SEC EDGARGizman I. Abbas, Board member
- 26SEC EDGARDouglas B. Croxall, Board member
- 27
- 28SEC EDGARChange of auditor
- 29
- 30SEC EDGARExecutive or director change
- 31SEC EDGARChange of auditor
- 32
- 33SEC EDGARChange of auditor
- 34
- 35SEC EDGAREntered a material agreement
- 36SEC EDGARExecutive or director change
- 37
- 38SEC EDGARBylaws or fiscal year changed
- 39SEC EDGAREnded a material agreement
- 40
- 41
- 42
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