AWHL on OTC

Aspira Women's Health Inc.

Aspira Women's Health Inc. is an American in vitro and in vivo diagnostic substances company based in Austin.2 Its shares trade on OTC under the symbol AWHL.2

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Last updated Oct 21, 2026.

Overview

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  • TickerAWHL on OTC2
  • IndustryIn Vitro & In Vivo Diagnostic Substances2
  • HeadquartersAustin, United States2
  • Incorporated inDE3
  • Business address12117 Bee Caves Road Building Three, Suite 100, Austin, Tx 787383
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI54930045CGQ3XUO9T5332
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O The Corporation Trust Company, 19801 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 32332042

Aspira Women’s Health Inc. is dedicated to the discovery, development, and commercialization of noninvasive, AI-powered tests to aid in the diagnosis of gynecologic diseases, starting with ovarian cancer.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 2025

64.2%Gross margin5
-85.9%Operating margin5
-138.7%Net margin5
0.4%Revenue growth, 20255
-$7.0MFree cash flow5

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue36¢$3.3M
  • Research and development31¢$2.9M
  • Other costs33¢$3.0M

Out of $9.2M in revenue.5 The company lost money this year.

Financial statements

Revenue6789105$9.2M in 2025+103% since 2019
0$2.5M$5.0M$7.5M$10.0M2019: $4.5M$4.5M20192020: $4.7M$4.7M2020+2%2021: $6.8M$6.8M2021+46%2022: $8.2M$8.2M2022+20%2023: $9.2M$9.2M2023+12%2024: $9.2M$9.2M2024+0%2025: $9.2M$9.2M2025+0%
Gross profit6789105$5.9M in 2025+395% since 2019
0$2.0M$4.0M$6.0M2019: $1.2M$1.2M20192020: $1.2M$1.2M2020+3%2021: $3.1M$3.1M2021+148%2022: $4.3M$4.3M2022+41%2023: $5.3M$5.3M2023+22%2024: $5.5M$5.5M2024+4%2025: $5.9M$5.9M2025+8%
Operating income6789105-$7.9M in 2025−48% since 2019
-$40.0M-$30.0M-$20.0M-$10.0M02019: -$15.3M-$15.3M20192020: -$18.0M-$18.0M2020+18%2021: -$32.6M-$32.6M2021+81%2022: -$31.1M-$31.1M2022−4%2023: -$18.9M-$18.9M2023−39%2024: -$16.3M-$16.3M2024−14%2025: -$7.9M-$7.9M2025−51%
Net income6789105-$12.8M in 2025−16% since 2019
-$40.0M-$30.0M-$20.0M-$10.0M02019: -$15.2M-$15.2M20192020: -$17.9M-$17.9M2020+18%2021: -$31.7M-$31.7M2021+77%2022: -$29.9M-$29.9M2022−6%2023: -$16.7M-$16.7M2023−44%2024: -$13.1M-$13.1M2024−22%2025: -$12.8M-$12.8M2025−2%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Total revenue$9.2M$9.2M
Total cost of revenue$3.3M$3.7M
Gross profit$5.9M$5.5M
Research and development$2.9M$3.3M
Sales and marketing$3.0M$8.1M
General and administrative$8.0M$10.3M
Total operating expenses$13.8M$21.8M
Loss from operations-$7.9M-$16.3M
Change in fair value of warrant liabilities-$5.6M$1.3M
Change in fair value of convertible notes$170.0K
Loss upon issuance of convertible notes carried at fair value-$1.2M
Interest expense, net-$41.0K-$33.0K
Other income (expense), net$1.8M$1.9M
Total other (expense) income, net-$4.9M$3.2M
Net loss-$12.8M-$13.1M
Net loss per share - basic (in dollars per share)-$0.37-$0.93
Net loss per share - diluted (in dollars per share)-$0.37-$0.93
Weighted average common shares used to compute basic net loss per common share (in shares)34.1M shares14.1M shares
Weighted average common shares used to compute diluted net loss per common share (in shares)34.1M shares14.1M shares

Compare Aspira Women's Health Inc. with another company

Corporate structure

Aspira Women's Health Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Aspira Women's Health Inc.

  • Jack W. Schuler Filed SCHEDULE 13D/A on Aspira Women's Health Inc., latest Jun 11, 2026 (7 filings since Aug 29, 2022)
  • ARMISTICE CAPITAL, LLC Filed SCHEDULE 13G/A on Aspira Women's Health Inc., latest Feb 14, 2025 (2 filings since Nov 14, 2024)
  • Eric Adam Schultz Filed SC 13G/A on Aspira Women's Health Inc., latest Apr 8, 2024 (2 filings since Dec 26, 2023)
  • SEAMARK CAPITAL LP Filed SC 13G/A on Aspira Women's Health Inc., latest Feb 15, 2023 (2 filings since Feb 16, 2022)
  • Robert H. Drysdale Filed SC 13G on Aspira Women's Health Inc., latest Feb 14, 2022
  • Tanya Schuler Sharman Filed SC 13D/A on Aspira Women's Health Inc., latest Jan 13, 2022
  • Henri George Schuler Filed SC 13D/A on Aspira Women's Health Inc., latest Dec 30, 2021
  • Tino Hans Schuler Filed SC 13D/A on Aspira Women's Health Inc., latest Dec 30, 2021
  • Larry N. Feinberg Filed SC 13D/A on Aspira Women's Health Inc., latest Nov 24, 2021
  • Aspira Women's Health Inc. Austin, Texas, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Aspira Women's Health 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
Property and equipment, before depreciation$1.4M5 Dec 31, 2025$1.5M5 Dec 31, 2024−7.4%
Accumulated depreciation$1.3M5 Dec 31, 2025$1.4M5 Dec 31, 2024−6.2%
Property and equipment, net$47.0K5 Dec 31, 2025$69.0K5 Dec 31, 2024−31.9%
Operating-lease assets (leased space)$980.0K5 Dec 31, 2025$1.2M5 Dec 31, 2024−17.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.8M5 Dec 31, 2025$1.8M5 Dec 31, 2024−0.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Finite-lived intangibles, gross$385.0K5 Dec 31, 2025
Accumulated amortization$75.0K5 Dec 31, 2025
Finite-lived intangibles, net$310.0K5 Dec 31, 2025

Inventory

ItemLatestA year beforeChange
Inventory, total$256.0K5 Dec 31, 2025$326.0K5 Dec 31, 2024−21.5%

Properties, in its own words

The following chart indicates the facilities that we lease, the location and size of each facility and its designated use. We believe that these facilities are suitable and adequate for our current needs.

Location · Approximate Square Feet · Primary Functions · Lease Expiration Date

The rest of Item 2

Austin, Texas · 8,203 sq. ft. · Aspira Labs facility, research and development, clinical and regulatory and administrative offices · August 31, 2031

Shelton, Connecticut · 4,614 sq. ft. · Administrative offices · September 30, 2028

Item 2 of the 10-K filed Apr 1, 2026.4

Leadership

Who has led Aspira Women's Health Inc., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (46)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Interim Chief Executive OfficerJOHN FRASER named Jun 22, 202680
  • VP of FinanceJAMES CRAWFORD named Mar 20, 202581
  • Executive OfficerJody Berry named Feb 7, 202482
  • DirectorJEFFREY COHEN named Sep 18, 2025 to Jun 22, 202680
  • DirectorJane PINE WOOD named Sep 18, 2025 to Jun 22, 202680
  • DirectorJACK FRASER named Sep 18, 202583
  • DirectorLynn O'Connor Vos named Feb 7, 202482

Former names

  • VERMILLION, INC.Aug 28, 2007 to Jun 10, 20203
  • CIPHERGEN BIOSYSTEMS INCSep 22, 2000 to Aug 17, 20073

Timeline

  1. Jul 15, 20268-K Entered a material agreement; New debt or obligation84
  2. Jul 7, 20268-K Executive or director change85
  3. Jun 22, 20268-K Executive or director change86
  4. Jun 17, 20268-K Shareholder vote87
  5. Jun 9, 20268-K Entered a material agreement; Unregistered sale of shares88
  6. May 26, 20268-K Entered a material agreement89
  7. Apr 30, 20268-K Executive or director change90
  8. Mar 25, 20268-K Entered a material agreement91
  9. Jan 30, 20268-K Entered a material agreement; New debt or obligation92
  10. Dec 31, 20258-K Regulation FD disclosure93
  11. Dec 23, 20258-K Entered a material agreement; Unregistered sale of shares94
  12. Dec 22, 20258-K Entered a material agreement95
  13. Mar 19, 2025New chief executive Michael William Buhle becomes CEO14
  14. Jan 8, 2025New chief executive Sandra Milligan becomes CEO13
  15. Mar 1, 2022New chief executive Nicole Sandford becomes CEO15
  16. May 23, 2020Founded Aspira Women's Health Inc. is founded2
  17. Mar 21, 2016New chief executive Valerie Barber Palmieri becomes CEO16
  18. Apr 24, 2014New chief executive James T. Lafrance becomes CEO17
  19. Mar 20, 2013New chief executive Thomas H. McLain becomes CEO18
  20. Nov 28, 2012New chief executive Bruce A. Huebner becomes CEO19
  21. Jun 9, 2006New chief executive Gail S. Page becomes CEO20

Calendar

When it reported results

  1. Nov 14, 2025Reported quarterly or annual results96
  2. Aug 13, 2025Reported quarterly or annual results97
  3. May 19, 2025Reported quarterly or annual results98
  4. Mar 27, 2025Reported quarterly or annual results99
  5. Nov 14, 2024Reported quarterly or annual results100
  6. Aug 12, 2024Reported quarterly or annual results101
  7. May 15, 2024Reported quarterly or annual results102
  8. Mar 28, 2024Reported quarterly or annual results103

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

Filings

411 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 111 major events, 176 insider forms, 18 large holders, 5 private raises, 80 other. The latest 20:

  1. Oct 2, 20264 EDGAR
  2. Aug 14, 202610-Q EDGAR
  3. Jul 17, 20264/A EDGAR
  4. Jul 15, 20264 EDGAR
  5. Jul 15, 20263 EDGAR
  6. Jul 15, 20268-K EDGAR
  7. Jul 7, 20268-K/A EDGAR
  8. Jun 22, 2026D EDGAR
  9. Jun 22, 20268-K EDGAR
  10. Jun 17, 20268-K EDGAR
  11. Jun 11, 2026SCHEDULE 13D/A EDGAR
  12. Jun 9, 20264 EDGAR
  13. Jun 9, 20268-K EDGAR
  14. May 29, 20264 EDGAR
  15. May 29, 20264/A EDGAR
  16. May 29, 20264/A EDGAR
  17. May 29, 2026DEFA14A EDGAR
  18. May 26, 20268-K EDGAR
  19. May 15, 202610-Q EDGAR
  20. Apr 30, 20268-K EDGAR

The 411 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

33 open-market trades by officers, directors and large owners since October 2021: 32 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 5, 2026SCHULER JACK W10% ownerBuy222,222$0.45$100.0KForm 4
Sep 17, 2025Fraser John DDirectorBuy16,389$0.45$7.4KForm 4
Sep 17, 2025cohen Jeffrey kDirectorBuy55,556$0.45$25.0KForm 4
Sep 17, 2025SCHULER JACK W10% ownerBuy1,111,111$0.45$500.0KForm 4
Sep 17, 2025cohen Jeffrey kDirectorBuy55,556$0.45$25.0KForm 4
Sep 17, 2025Fraser John DDirectorBuy16,389$0.45$7.4KForm 4
Jul 9, 2024SCHULER JACK W10% ownerBuy6,536Form 4
May 31, 2024Sandford NicoleChief Executive OfficerBuy9,493$2.42$23.0KForm 4
Jan 26, 2024Sandford NicoleChief Executive OfficerBuy2,400Form 4
Jan 26, 2024SCHULER JACK W10% ownerBuy28,500Form 4
Dec 6, 2023Merchant Minh HoangGeneral Counsel and SecretarySale980$3.37$3.3KForm 4
Dec 6, 2023Sandford NicoleChief Executive OfficerBuy5,000$3.36$16.8KForm 4
Sep 8, 2023Hombeck TorstenChief Financial OfficerBuy2,246$4.30$9.7KForm 4
Jul 24, 2023Hombeck TorstenChief Financial OfficerBuy754$3.98$3.0KForm 4
Jul 24, 2023Parnell WinfredDirectorBuy6,281$3.98$25.0KForm 4
Jul 24, 2023Herchuk Jannie PrestridgeDirectorBuy8,794$3.98$35.0KForm 4
Jul 24, 2023Phan Ryan ThinhCSO & COOBuy628$3.98$2.5KForm 4
Jul 24, 2023Merchant Minh HoangGeneral Counsel and SecretaryBuy754$3.98$3.0KForm 4
Jul 24, 2023Fralick Celeste RachelleDirectorBuy754$3.98$3.0KForm 4
Jul 24, 2023Sandford NicoleChief Executive OfficerBuy12,563$3.98$50.0KForm 4

All 33 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.

  • Jack W. SchulerSCHEDULE 13D/A, 7 filings Aug 29, 2022 to Jun 11, 2026104
  • ARMISTICE CAPITAL, LLCSCHEDULE 13G/A, 2 filings Nov 14, 2024 to Feb 14, 2025105
  • Eric Adam SchultzSC 13G/A, 2 filings Dec 26, 2023 to Apr 8, 2024106
  • SEAMARK CAPITAL LPSC 13G/A, 2 filings Feb 16, 2022 to Feb 15, 2023107
  • Robert H. DrysdaleSC 13G, 1 filing Feb 14, 2022108
  • Tanya Schuler SharmanSC 13D/A, 1 filing Jan 13, 2022109
  • Henri George SchulerSC 13D/A, 1 filing Dec 30, 2021110
  • Tino Hans SchulerSC 13D/A, 1 filing Dec 30, 2021111
  • Larry N. FeinbergSC 13D/A, 1 filing Nov 24, 2021112

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
2025Chief Executive Officer$374.5K$419.9K113
2025Chief Financial Officer$141.1K113
2025Former PresidentInterim Chief Executive Officer$80.5K113
2024Former PresidentInterim Chief Executive Officer$265.6K$358.4K113

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$14.2M 2024–2026
Money received by yearMoney received by year, 2024–2026: $14.2M in all. Private raises (Form D) $14.2M.$0$2.5M$5M$7.5M$10M2024 · Private raises (Form D): $8.4M20242025 · Private raises (Form D): $4.3M20252026 · Private raises (Form D): $1.5M2026
Figures by year
YearPrivate raises (Form D)Total
2026$1.5M$1.5M
2025$4.3M$4.3M
2024$8.4M$8.4M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Jun 5, 2026Raised $1.5 million in a private offering of equity80 Form D: 19 investors so far Form D
  2. Sep 16, 2025Raised $3 million in a private offering of equity83 Form D: 19 investors so far Form D
  3. Mar 5, 2025Raised $1.4 million in a private offering of securities81 Form D: 27 investors so far Form D
  4. Jun 30, 2024Raised $1.9 million in a private offering of equity114 Form D: 21 investors so far Form D
  5. Jan 26, 2024Raised $6.5 million in a private offering of securities82 Form D: 7 investors so far Form D

SEC filer profile

How Aspira Women's Health Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARAspira Women's Health Inc.1
  • CIK0000926617
  • Employer ID (EIN)33-05951564
  • 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)2835 In Vitro & In Vivo Diagnostic Substances1
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance1
  • Business address12117 Bee Caves Road Building Three, Suite 100, Austin, TX 787381
  • Phone512-519-04001
  • Shares outstanding46,633,744 as of Aug 12, 202612
  • Public float$4.7M as of Jun 30, 20254
  • AuditorBDO USA, P.C, Boston, Massachusetts PCAOB ID 243; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceMar 20, 20001
  • Filings1,549 in all: 4 (461), 8-K (377), SC 13G/A (80), 10-Q (78), 3 (67), SC 13D/A (59), SC 13G (31), UPLOAD (31)1
    All 57 form types

    CORRESP (28), DEF 14A (27), 10-K (24), DEFA14A (23), EFFECT (20), 4/A (19), 424B5 (18), 424B3 (16), S-1/A (16), S-8 (16), 8-K/A (15), S-3 (13), DFAN14A (11), 10-K/A (8), D (8), PRE 14A (8), S-1 (8), S-8 POS (8), ARS (6), NT 10-Q (6), SC 13D (6), NT 10-K (5), PRRN14A (5), REGDEX (5), 10-Q/A (4), PRER14A (4), 3/A (3), CT ORDER (3), DEFR14A (3), POS AM (3), S-3/A (3), SCHEDULE 13D/A (3), 10-K405 (2), 8-A12G (2), PREN14A (2), 25-NSE (1), 424B1 (1), 424B4 (1), 5 (1), 8-A12B (1), CERTNAS (1), DEFM14A (1), DEFN14A (1), FWP (1), PREC14A (1), PREM14A (1), RW (1), S-1MEF (1), SCHEDULE 13G/A (1)

  • Latest filingsAnnual report (10-K) Apr 1, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Apr 24, 2026
    Latest 8-K (8-K) Jul 15, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.001 per shareAWHL

From the cover page of the 10-K filed Apr 1, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Aspira Women's Health Inc. names in Item 1A of its 10-K filed Apr 1, 2026: 38 risks under these headings, as written.4

  • RISKS RELATED TO OUR BUSINESS AND INDUSTRY
  • If we are unable to increase the volume of OvaSuite sales, our business, results of operations and financial condition will be adversely affected.
  • There is substantial doubt about our ability to continue as a going concern, and this may adversely affect our stock price and our ability to raise capital.
  • We may need to sell additional shares of our common stock or other securities in the future to meet our capital requirements, which could cause significant dilution.
  • We will need to raise additional capital in the future, and if we are unable to secure adequate funds on terms acceptable to us, we may be unable to execute our business plan.
  • Failures by third-party payers to reimburse for our products and services or changes in reimbursement rates could materially and adversely affect our business, financial condition and results of operations. In addition, changes in medical society guidelines may also adversely affect payers and result in a material change in coverage, adversely affecting our business, financial condition and results of operations.
  • Failure to continue coverage of Ova1 through Novitas, our Medicare Administrative Contractor for Ova1, could materially and adversely affect our business, financial condition and results of operation.
  • Failure to expand commercial, Medicare or Medicaid coverage for our products could materially and adversely affect our business, financial condition and results of operations.
  • We may not succeed in improving existing or developing additional diagnostic products, and, even if we do succeed in developing additional diagnostic products, the diagnostic products may never achieve significant commercial market acceptance.
  • The diagnostics market is competitive, and we may not be able to compete successfully, which would adversely impact our ability to generate revenue.
  • We are currently offering and developing multiple tests as LDTs and intend to develop and perform LDTs at Aspira Labs in the future. If FDA were to begin actively regulating our tests, we would incur substantial costs and delays associated with the effort to obtain premarket 510(k) clearance, de novo classification, or premarket approval and incur costs related to compliance with post-market controls.
  • Certain of our diagnostic tests and associated software are subject to ongoing regulation by the FDA, and we may develop additional FDA-regulated diagnostic tests and software in the future. Any failure to comply with applicable FDA regulations for our current FDA regulated products, and any delay by or failure of the FDA to authorize future products we submit to the FDA may adversely affect our business, results of operations and financial condition.
The other 27 risks
  • If we or our suppliers fail to comply with FDA requirements for production, marketing and post-market monitoring of our products, we may not be able to market our products and services and may be subject to stringent penalties, product restrictions or recall.
  • If our suppliers fail to produce acceptable or sufficient stock, fail to supply stock due to supply shortages, make changes to the design or labeling of their biomarker kits or discontinue production of existing biomarker kits or instrument platforms, we may be unable to meet market demand for OvaSuite products.
  • Changes in healthcare policy could increase our costs and adversely impact sales of and reimbursement for our tests, which would have an adverse effect on our business, financial condition and results of operations.
  • We are subject to environmental laws and potential exposure to environmental liabilities.
  • The operation of Aspira Labs requires us to comply with numerous laws and regulations, which is expensive and time-consuming and could adversely affect our business, financial condition and results of operations, and any failure to comply could result in exposure to substantial penalties and other harm to our business.
  • Our ability to utilize our net operating loss carryforwards and certain other tax attributes may be limited.
  • If we are able to successfully reinstate the ARPA-H award and yet are unable to complete the required milestones under our federal award milestone-based funding agreement, our business, results of operations and financial condition would be adversely affected.
  • Failure to renew our Quest Diagnostics agreement could impact our business
  • Our current agreement with Quest Diagnostics expired as of December 31, 2025. If we fail to renew the agreement on acceptable terms, we could experience a disruption in logistics as well as a loss of revenue.
  • RISKS RELATED TO INTELLECTUAL PROPERTY AND PRODUCT LIABILITY
  • If we fail to maintain our rights to utilize intellectual property directed to diagnostic biomarkers, we may not be able to offer diagnostic tests using those biomarkers.
  • If a third party infringes on our proprietary rights, we may lose any competitive advantage we have as a result of diversion of our time, enforcement costs and the loss of the exclusivity of our proprietary rights.
  • If others successfully assert their proprietary rights against us, we may be precluded from making and selling our products or we may be required to obtain licenses to use their technology.
  • Our diagnostic efforts may cause us to have significant product liability exposure.
  • Certain of our patent registrations will expire, which may cause us to have significant competition.
  • OPERATIONAL RISKS
  • Because our business is highly dependent on key executives and employees, our inability to recruit and retain these people could hinder our business plans.
  • Business interruptions could limit our ability to operate our business.
  • We selectively explore acquisition opportunities and strategic alliances relating to other businesses, products or technologies. We may not be successful in integrating other businesses, products or technologies with our business. Any such transaction also may not produce the results we anticipate, which could adversely affect our business, financial condition and results of operations.
  • Future litigation by or against us could be costly and time-consuming to prosecute or defend.
  • RISKS RELATED TO OWNING OUR STOCK
  • There is a limited market for our Common Stock.
  • If we fail to maintain compliance with the OTC QX minimum listing requirements, our common stock will be subject to removal to the OTC QB market. Our ability to publicly or privately sell equity securities and the liquidity of our common stock could be adversely affected if our common stock is downgraded.
  • The liquidity and trading volume of our common stock may be low, and our ownership is concentrated, which could adversely impact the trading price of our common stock and our stockholders’ ability to obtain liquidity.
  • Our stock price has been, and may continue to be, highly volatile.
  • Anti-takeover provisions in our charter, bylaws, other agreements and under Delaware law could make a third-party acquisition of the Company difficult.
  • If we raise additional capital in the future, your ownership in us could be diluted.
  • Sales of a substantial number of our shares of common stock in the public market could cause our stock price to fall.
  • Because we do not currently intend to declare cash dividends on our shares of common stock in the foreseeable future, stockholders must rely on appreciation of the value of our common stock for any return on their investment.
  • The exercise of our outstanding options and warrants will dilute stockholders and could decrease our stock price.

Legal proceedings

From time to time, we are involved in legal proceedings and regulatory proceedings arising out of our operations. We establish reserves for specific liabilities in connection with legal actions that we deem to be probable and estimable. As of the date of the filing of this Form 10-K, we are not a party to any proceeding, the adverse outcome of which would have a material adverse effect on our financial position or results of operations.

The opening of Item 3, Legal Proceedings.4

Sources

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  70. 70
  71. 71
  72. 72
  73. 73
  74. 74
  75. 75
  76. 76
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  78. 78
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  81. 81
  82. 82
  83. 83
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  90. 90
  91. 91
  92. 92
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