AEYE on Nasdaq

AUDIOEYE INC

AUDIOEYE INC is an American prepackaged software services company based in Wilmington.2 Its shares trade on Nasdaq under the symbol AEYE.2

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Last updated Oct 21, 2026.

Overview

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  • TickerAEYE on Nasdaq2
  • IndustryServices-Prepackaged Software2
  • HeadquartersWilmington, United States2
  • Incorporated inDE3
  • Business address5210 E. Williams Circle, Suite 750, Tucson, Az 857113
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI5299005WRMZCSB2PT4642
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressc/o NATIONAL REGISTERED AGENTS, INC., 1209 ORANGE STREET, 19801 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 39740152

AudioEye is an industry-leading digital accessibility platform delivering website accessibility compliance at all price points to businesses of all sizes. Our solutions advance accessibility with patented technology that reduces barriers, expands access for individuals with disabilities, and enhances the user experience for a broader audience. We believe that, when implemented, our solution offers businesses and organizations the opportunity to reach more customers, improve brand image, build additional brand loyalty, and, most importantly, provide an accessible and usable web experience to the expansive and ever-growing global population of individuals with disabilities.5 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 2025

78.3%Gross margin6
-4.5%Operating margin6
-7.6%Net margin6
14.5%Revenue growth, 20256
-64.1%Return on equity6
2.60×Debt to equity6
$4.7MFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Partner and Marketplace brought in 55% of the revenue AUDIOEYE INC broke down this way in fiscal 2025.

  1. Partner and Marketplace$22.2M655%up 10% from 2024
  2. Enterprise$18.1M645%up 21% from 2024
Products and services by year
Products and services20242025
Partner and Marketplace$20.2M$22.2M
Enterprise$15.0M$18.1M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue22¢$8.8M
  • Research and development11¢$4.6M
  • Other costs67¢$27.0M

Out of $40.3M in revenue.6 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending1¢$54.0K
  • Share buybacks96¢$4.6M
  • Kept or used elsewhere3¢$124.0K

Out of $4.8M of cash from operations.6

Financial statements

Revenue78910116$40.3M in 2025+274% since 2019
0$20.0M$40.0M$60.0M2019: $10.8M$10.8M20192020: $20.5M$20.5M2020+90%2021: $24.5M$24.5M2021+20%2022: $29.9M$29.9M2022+22%2023: $31.3M$31.3M2023+5%2024: $35.2M$35.2M2024+12%2025: $40.3M$40.3M2025+15%
Gross profit78910116$31.6M in 2025+396% since 2019
0$10.0M$20.0M$30.0M$40.0M2019: $6.4M$6.4M20192020: $14.5M$14.5M2020+128%2021: $18.4M$18.4M2021+27%2022: $22.7M$22.7M2022+23%2023: $24.3M$24.3M2023+7%2024: $27.9M$27.9M2024+15%2025: $31.6M$31.6M2025+13%
Operating income78910116-$1.8M in 2025−77% since 2019
-$20.0M-$15.0M-$10.0M-$5.0M02019: -$7.8M-$7.8M20192020: -$7.1M-$7.1M2020−9%2021: -$15.5M-$15.5M2021+117%2022: -$10.4M-$10.4M2022−33%2023: -$6.0M-$6.0M2023−43%2024: -$3.4M-$3.4M2024−43%2025: -$1.8M-$1.8M2025−46%
Net income78910116-$3.1M in 2025−60% since 2019
-$15.0M-$10.0M-$5.0M02019: -$7.8M-$7.8M20192020: -$7.2M-$7.2M2020−8%2021: -$14.2M-$14.2M2021+99%2022: -$10.4M-$10.4M2022−27%2023: -$5.9M-$5.9M2023−44%2024: -$4.3M-$4.3M2024−28%2025: -$3.1M-$3.1M2025−28%

Every line of the income statement as filed: the last 2 fiscal years, latest first.6

Period ending2025-12-312024-12-31
Revenue$40.3M$35.2M
Cost of revenue$8.8M$7.3M
Gross profit$31.6M$27.9M
Selling and marketing$14.9M$12.7M
Research and development$4.6M$5.1M
General and administrative$15.2M$13.4M
Change in fair value of contingent consideration-$1.4M$140.0K
Total operating expenses$33.4M$31.3M
Operating loss-$1.8M-$3.4M
Interest expense, net-$947.0K-$864.0K
Loss on extinguishment of debt-$300.0K
Total other expense-$1.2M-$864.0K
Net loss-$3.1M-$4.3M
Net loss per common share-basic (in dollars per share)-$0.25-$0.36
Net loss per common share-diluted (in dollars per share)-$0.25-$0.36
Weighted average common shares outstanding-basic (in shares)12.4M shares11.9M shares
Weighted average common shares outstanding-diluted (in shares)12.4M shares11.9M shares

Compare AUDIOEYE INC with another company

Corporate structure

AUDIOEYE INC sits at the top of its group. 5 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of AUDIOEYE INC

  • KENNEDY CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on AUDIOEYE INC, latest May 12, 2026
  • WASATCH ADVISORS LP Filed SCHEDULE 13G/A on AUDIOEYE INC, latest Apr 22, 2026 (3 filings since May 7, 2025)
  • David Moradi Filed SCHEDULE 13G/A on AUDIOEYE INC, latest Feb 17, 2026
  • Sero Capital LLC Filed SCHEDULE 13G/A on AUDIOEYE INC, latest Feb 13, 2025 (4 filings since Feb 14, 2022)
  • Carr Bettis Filed SCHEDULE 13G/A on AUDIOEYE INC, latest Feb 12, 2025 (5 filings since Feb 14, 2022)
  • Keith Kosow Filed SCHEDULE 13G/A on AUDIOEYE INC, latest Jan 14, 2025 (4 filings since Feb 17, 2022)
  • Greenhaven Road Investment Management, L.P. Filed SC 13G/A on AUDIOEYE INC, latest Feb 14, 2023 (2 filings since Feb 14, 2022)
  • CANNELL CAPITAL LLC Filed SC 13G/A on AUDIOEYE INC, latest Feb 13, 2023 (2 filings since Feb 14, 2022)
  • AUDIOEYE INC Wilmington, Delaware, United States
    • Ability, Inc. Subsidiary · Oregon, United States
    • ADA Site Compliance, LLC Subsidiary · Delaware, United States
    • Criterion 508 Solutions, Inc. Subsidiary · Iowa, United States
    • Equally AI Ltd. Subsidiary · Israel

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); 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 AUDIOEYE INC 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

ItemLatestA year beforeChange
Accumulated depreciation$227.0K6 Dec 31, 2025$294.0K6 Dec 31, 2024−22.8%
Property and equipment, net$146.0K6 Dec 31, 2025$215.0K6 Dec 31, 2024−32.1%
Operating-lease assets (leased space)$168.0K6 Dec 31, 2025$385.0K6 Dec 31, 2024−56.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$5.3M6 Dec 31, 2025$5.7M6 Dec 31, 2024−6.4%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$6.7M6 Dec 31, 2025$6.7M6 Dec 31, 2024+0.3%
Intangible assets, net (excluding goodwill)$12.5M6 Dec 31, 2025$10.3M6 Dec 31, 2024+21.8%
Finite-lived intangibles, gross$25.8M6 Dec 31, 2025$20.1M6 Dec 31, 2024+28.4%
Accumulated amortization$13.3M6 Dec 31, 2025$9.8M6 Dec 31, 2024+35.3%
Finite-lived intangibles, net$12.5M6 Dec 31, 2025$10.3M6 Dec 31, 2024+21.8%

Properties, in its own words

The Company’s principal offices are located at 5210 E. Williams Circle, Suite 750, Tucson, Arizona 85711, consisting of approximately 627 square feet under a lease agreement that expires in October 2026.

The Company also occupies shared office space in several locations under membership agreements which provide for membership fees based on the number of contracted seats.

The rest of Item 2

The Company believes that its space is adequate for its current needs and that suitable alternative space is available to accommodate expansion of the Company’s operations.

Item 2 of the 10-K filed Mar 12, 2026.5

Leadership

Who has led AUDIOEYE INC, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (10)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • ADA Site Compliance, LLC Delaware4
  • Ability, Inc. Oregon4
  • Criterion 508 Solutions, Inc. Iowa4
  • Equally AI Ltd. Israel4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Sep 18, 20268-K Entered a material agreement; New debt or obligation34
  2. Aug 13, 20268-K Results of operations35
  3. Jun 23, 20268-K Shareholder vote36
  4. Jun 18, 20268-K Executive or director change; Regulation FD disclosure37
  5. May 26, 20268-K Change of auditor38
  6. May 12, 20268-K Results of operations39
  7. May 7, 20268-K Executive or director change; Regulation FD disclosure40
  8. May 6, 2026New chief executive Kelly Georgevich becomes CEO14
  9. Apr 27, 20268-K Results of operations41
  10. Mar 5, 20268-K Results of operations42
  11. Jan 13, 20268-K Results of operations43
  12. Nov 4, 20258-K Results of operations44
  13. Aug 7, 20258-K Results of operations45
  14. May 24, 2022New chief executive David Moradi becomes CEO15
  15. Mar 30, 2020New chief executive Heath Thompson becomes CEO16
  16. Sep 4, 2018New chief executive Todd Bankofier becomes CEO17
  17. May 20, 2005Founded AUDIOEYE INC is founded2

Calendar

Coming up

  1. Nov 3, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.10 a share, on Nov 4, 2025.46

When it reported results

  1. Aug 13, 2026Reported quarterly or annual results35
  2. May 12, 2026Reported quarterly or annual results39
  3. Apr 27, 2026Reported quarterly or annual results41
  4. Mar 5, 2026Reported quarterly or annual results42
  5. Jan 13, 2026Reported quarterly or annual results43
  6. Nov 4, 2025Reported quarterly or annual results44
  7. Aug 7, 2025Reported quarterly or annual results45
  8. Apr 29, 2025Reported quarterly or annual results47

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

323 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 49 major events, 202 insider forms, 22 large holders, 29 other. The latest 20:

  1. Oct 2, 20264 EDGAR
  2. Oct 2, 20264 EDGAR
  3. Oct 2, 20264 EDGAR
  4. Oct 2, 20264 EDGAR
  5. Oct 2, 20264 EDGAR
  6. Oct 2, 20264 EDGAR
  7. Sep 18, 20268-K EDGAR
  8. Aug 13, 202610-Q EDGAR
  9. Aug 13, 20268-K EDGAR
  10. Jul 20, 20264 EDGAR
  11. Jul 20, 20263 EDGAR
  12. Jul 2, 20264 EDGAR
  13. Jul 2, 20264 EDGAR
  14. Jul 2, 20264 EDGAR
  15. Jul 2, 20264 EDGAR
  16. Jul 2, 20264 EDGAR
  17. Jun 24, 20264 EDGAR
  18. Jun 24, 20264 EDGAR
  19. Jun 24, 20264 EDGAR
  20. Jun 23, 20268-K EDGAR

The 323 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

38 open-market trades by officers, directors and large owners since October 2021: 29 buys and 9 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Mar 13, 2026Georgevich KellyCEO, CFO AND SECRETARYBuy16,850$5.90$99.4KForm 4
Mar 12, 2026HAWKINS JAMES BDirectorBuy11,000$5.64$62.0KForm 4
Mar 11, 2026HAWKINS JAMES BDirectorBuy13,000$5.77$75.0KForm 4
Mar 10, 2026HAWKINS JAMES BDirectorBuy14,000$5.91$82.7KForm 4
Nov 21, 2025HAWKINS JAMES BDirectorBuy2,000$11.05$22.1KForm 4
Nov 20, 2025HAWKINS JAMES BDirectorBuy2,000$11.60$23.2KForm 4
Nov 18, 2025HAWKINS JAMES BDirectorBuy2,000$11.40$22.8KForm 4
Nov 17, 2025HAWKINS JAMES BDirectorBuy2,000$11.57$23.1KForm 4
Nov 13, 2025HAWKINS JAMES BDirectorBuy6,000$11.90$71.4KForm 4
Nov 11, 2025HAWKINS JAMES BDirectorBuy8,000$12.58$100.6KForm 4
Sep 5, 2025Tahir Jamil A.DirectorBuy12,359$12.71$157.1KForm 4
Sep 4, 2025Tahir Jamil A.DirectorBuy12,641$12.59$159.2KForm 4
Aug 18, 2025HAWKINS JAMES BDirectorBuy8,000$10.95$87.6KForm 4
Mar 19, 2025HAWKINS JAMES BDirectorBuy13,300$15.39$204.8KForm 4
Dec 4, 2024Tahir Jamil A.DirectorSale125,000$24.00$3.0MForm 4
Dec 4, 2024Moradi DavidEXECUTIVE CHAIRMAN AND CPOSale900,000$24.00$21.6MForm 4
Dec 4, 2024Bettis CarrEXEC CHRMN/CHRMN OF THE BOARDSale225,000$24.00$5.4MForm 4
Nov 14, 2024Georgevich KellyCEO, CFO AND SECRETARYSale500$27.00$13.5KForm 4
Nov 14, 2024Moradi DavidEXECUTIVE CHAIRMAN AND CPOSale14,061$26.13$367.5KForm 4
Nov 13, 2024Moradi DavidEXECUTIVE CHAIRMAN AND CPOSale51,684$26.82$1.4MForm 4

All 38 trades can be filtered by person here when JavaScript is on.

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.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025David Moradi$100.0K$3.0M56
2025Kelly Georgevich$350.0K$913.7K56
2024Chief Executive OfficerChief Financial Officer and Director$350.0K$1.4M56
2024Chief Product Officer (former Chief Executive Officer) and Director$400.0K56

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 86. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Kennedy Capital Management LLC807,893$4.7M0.1%−15,561
Vanguard Capital Management LLC351,870$2.0M0.0%+13,325
Aqr Capital Management LLC283,469$1.6M0.0%+191,193
Skylands Capital, LLC268,750$1.6M0.2%+45,900
UBS Group AG236,390$1.4M0.0%+78,253
Citadel Advisors LLC218,984$1.3M0.0%+77,708
Formula Growth Ltd200,000$1.2M0.4%No change
Renaissance Technologies LLC165,363$960.8K0.0%+40,063
Focus Financial Network, Inc.122,650$712.6K0.0%+32,270
Jane Street Group, LLC118,973$691.2K0.0%+31,467
BlackRock, Inc.116,107$674.6K0.0%−353,633
Jacobs Levy Equity Management, Inc112,676$654.6K0.0%+33,067
Geode Capital Management, LLC92,285$536.4K0.0%−139,181
Millennium Management LLC79,817$463.7K0.0%New
Globeflex Capital L P79,574$462.3K0.1%New
Creative Planning72,078$418.8K0.0%+1,346
Sei Investments Co66,958$389.0K0.0%−86,579
Goldman Sachs Group Inc63,615$369.6K0.0%−2,541
Arcadia Wealth Management, Inc.63,351$368.1K0.2%No change
Vanguard Fiduciary Trust Co51,253$297.8K0.0%−6,563
Arrowstreet Capital, Limited Partnership45,292$263.1K0.0%New
Susquehanna International Group, Llp44,623$259.3K0.0%+33,791
State Street Corp35,759$207.8K0.0%−142,106
Bank of New York Mellon Corp35,469$206.1K0.0%−18,294
Bnp Paribas Financial Markets31,204$181.3K0.0%+19,493

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How AUDIOEYE INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARAUDIOEYE INC1
  • CIK0001362190
  • Employer ID (EIN)20-29398455
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 311
  • Industry code (SIC)7372 Services-Prepackaged Software1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business address5210 E. Williams Circle, Suite 750, Tucson, AZ 857111
  • Phone866-331-53241
  • Shares outstanding12,569,674 as of Jul 30, 202613
  • Public float$110.5M as of Jun 30, 20255
  • AuditorMaloneBailey, LLP, Houston, Texas PCAOB ID 206; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceApr 28, 20061
  • Filings694 in all: 4 (279), 8-K (146), 10-Q (41), SC 13G/A (24), CORRESP (23), 3 (18), UPLOAD (18), 10-K (14)1
    All 44 form types

    S-1/A (13), S-8 (10), DEF 14A (9), EFFECT (9), SC 13G (8), DEFA14A (7), SCHEDULE 13G/A (6), 3/A (5), 8-K/A (5), D (5), S-1 (5), 4/A (4), 424B3 (4), 424B5 (4), ARS (4), 10-Q/A (3), D/A (3), S-3 (3), 144 (2), 424B7 (2), NT 10-K (2), PRE 14A (2), REGDEX (2), SCHEDULE 13G (2), 10-K/A (1), 144/A (1), 424B4 (1), 8-A12B (1), CERT (1), DEF 14C (1), NT 10-Q (1), POS AM (1), PRE 14C (1), S-3/A (1), S-3MEF (1), SC 13D (1)

  • Latest filingsAnnual report (10-K) Mar 12, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) May 13, 2026
    Latest 8-K (8-K) Sep 18, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.00001 per shareAEYENasdaq

From the cover page of the 10-K filed Mar 12, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks AUDIOEYE INC names in Item 1A of its 10-K filed Mar 12, 2026: 43 risks under these headings, as written.5

  • Risks Relating to Our Business and Industry
  • We have a history of generating significant losses and may not be able to achieve and sustain profitability.
  • We continue to pursue business through a variety of channels. These channels may result in the use of a significant amount of our management resources and costs, and we cannot guarantee we will fully realize the expected benefits.
  • Our future development will require additional capital, and we may be unable to obtain needed capital or financing on satisfactory terms, or at all, which would prevent us from fully developing our business and generating revenues.
  • We have a credit facility that includes certain financial and liquidity covenants. We cannot guarantee we will meet these covenants, obtain sufficient capital to repay the debt on a timely basis or obtain refinancing of the debt on satisfactory terms, or at all, all of which could have a material adverse effect on our business.
  • Weakened global economic conditions including current and ongoing microeconomic uncertainty may adversely affect our industry, business and results of operations.
  • We are, have been, and may in the future be, party to litigation, which could have a material adverse effect on our financial position or results of operations.
  • Market interest rates could remain high or continue to increase our interest costs on future debt and could adversely affect our stock price.
  • We may pursue new strategic opportunities, including acquisitions, which may result in the use of a significant amount of our management resources or significant costs, and we may not be able to consummate those opportunities or on beneficial terms.
  • We may not be able to successfully integrate newly acquired businesses or other strategic relationships, such matters involve various risks, and we may not be able to fully realize the potential benefit of such opportunities.
  • Our business plan may not be realized. If our business plan proves to be unsuccessful, our business may fail, and you may lose your entire investment.
  • We have experienced and will continue to experience competition as more companies seek to provide products and services similar to our products and services and seek to take advantage of changes in technologies. Because larger and better-financed competitors may affect our ability to compete in the marketplace and achieve profitability, our business may fail.
The other 32 risks
  • Advances in artificial intelligence may intensify competition and reduce demand for our solutions.
  • If we are not able to adequately protect our patented rights, our operations may be negatively impacted.
  • We may commence legal proceedings against third parties who we believe are infringing on our intellectual property rights, and if we are forced to litigate to defend our intellectual property rights, or to defend claims by third parties against us relating to intellectual property rights, legal fees and court injunctions could adversely affect our financial condition and potentially end our business.
  • The current legal environment for our products and services remains unclear.
  • Our business greatly depends on the growth of online services, Internet of Things (“IOT”), kiosks, streaming, and other next-generation Internet-based applications, and there is a risk that such growth may not occur as expected, or at all, which would harm our business.
  • If the market for our online services does not grow as anticipated, our business would be adversely affected.
  • Our success is dependent on our employees, some of whom are relatively new in their positions with the Company.
  • Our expansion into new products, services, technologies, and geographic regions subjects us to additional business, legal, financial, and competitive risks.
  • We face risks related to system interruption and lack of redundancy.
  • Government regulation is evolving, and unfavorable changes could harm our business.
  • We may be subject to risks related to government contracts and related procurement regulations.
  • If we do not successfully adapt, enhance or develop new products and services in a cost-effective manner to meet customer demand in the rapidly evolving market for next-generation Internet-based applications and services, our business may fail.
  • If our products and services do not continue to gain market acceptance, we may not be able to fund future operations.
  • We continually develop new products and product enhancements and actively capitalize software development costs, while making educated assumptions to anticipate the attributed revenue to be derived from each development or enhancement. If our assumptions are incorrect or if we are unable to accurately attribute revenue to each respective product or product enhancement, we may have to account for impairment, thus causing us to reverse the capitalized expenditures.
  • Our products and services are highly technical and may contain undetected errors, which could cause harm to our reputation and adversely affect our business.
  • Malfunctions of third-party communications infrastructure, hardware and software expose us to a variety of risks we cannot control, and those risks could result in harm to our business.
  • Security and privacy breaches, computer viruses, and cyber-attacks could harm our business, financial condition, results of operations, or reputation.
  • System failure or interruption or our failure to meet increasing demands on our systems could harm our business.
  • Fraud, impersonation, and social engineering schemes could result in financial loss or reputational harm.
  • We do not expect to pay any dividends to holders of our common stock for the foreseeable future, which will affect the extent to which our investors realize any future gains on their investment.
  • We will need to recruit and retain additional qualified personnel to successfully grow our business.
  • If we fail to maintain effective internal control over financial reporting and effective disclosure controls and procedures, we may not be able to report financial results accurately or on a timely basis, or to detect fraud, which could have a material adverse effect on our business and stock price.
  • Risks Related to the Market for Our Common Stock
  • Although our shares of common stock are listed on the Nasdaq Capital Market, historically we have had a limited trading volume and a higher price volatility. This may result in reduced liquidity of our common stock.
  • If we cannot continue to satisfy the continuing listing criteria of the Nasdaq Capital Market, the exchange may subsequently delist our common stock.
  • The market price for our common stock may fluctuate significantly, which could result in substantial losses by our investors.
  • Sales or the availability for sale of a substantial number of shares of our common stock may cause the price of our common stock to decline and adversely affect our ability to raise capital.
  • Issuance of additional shares of common stock in future financings will result in the dilution of our existing stockholders and may also result in a reduction in the market price of our common stock.
  • If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our stock price and trading volume could decline.
  • We are subject to financial reporting and other requirements that place significant demands on our resources.
  • Risks Relating to Our Charter Documents and Capital Structure
  • A small number of “insider” stockholders have significant influence over stockholder actions.
  • Provisions of our Certificate of Incorporation and bylaws could discourage potential acquisition proposals and could deter or prevent a change in control.
  • Delaware law may delay or prevent takeover attempts by third parties and therefore inhibit our stockholders from realizing a premium on their stock.

Legal proceedings

In the normal course of business, we are subject to proceedings, lawsuits, regulatory agency inquiries, and other claims. All such matters are subject to uncertainties and outcomes that are not predictable with assurance. While these matters could materially affect operating results when resolved in future periods, management believes that, after final disposition, including anticipated insurance recoveries in certain cases, any monetary liability or financial impact to the Company beyond that provided for in the consolidated balance sheet as of December 31, 2025, would not be material to our financial position or annual results of operations.

The opening of Item 3, Legal Proceedings.5

Sources

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  39. 39
  40. 40
  41. 41
  42. 42
  43. 43
  44. 44
  45. 45
  46. 46
  47. 47
  48. 48
  49. 49
  50. 50
  51. 51
  52. 52
  53. 53
  54. 54
  55. 55
  56. 56