LOOP on Nasdaq
Loop Industries, Inc.
In its 2026 annual report the company says: “Loop Industries is a technology company whose mission is to accelerate the world's shift toward sustainable PET plastic and polyester fiber and away from our dependence on fossil fuels.”5 It is headquartered in Montreal, Canada.2
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Last updated Oct 21, 2026.
Overview
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- TickerLOOP on Nasdaq2
- IndustryChemicals & Allied Products2
- HeadquartersMontreal, Canada2
- Incorporated inNV4
- Business address480 Fernand Poitras, Terrebonne, A8 J6Y 1Y44
- Filer categoryNon-accelerated filer, Smaller reporting company4
- Legal formProfit Corporation2
- LEI254900CRCCF0BCRSOJ922
- StatusActive2
- LEI statusLapsed (not renewed)2
- Registered addressC/O NEVADA AGENCY AND TRANSFER COMPANY, 89501 Reno, United States2
- Registered withBusiness Center (Secretary of State), NV201011811312
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Loop Industries is a technology company whose mission is to accelerate the world's shift toward sustainable PET plastic and polyester fiber and away from our dependence on fossil fuels. Loop Industries owns patented and proprietary technology that depolymerizes no and low-value waste PET plastic and polyester fiber, including plastic bottles, packaging, and textiles such as carpets and clothing, into its base building block monomers, DMT and MEG. The monomers are separated, purified and polymerized to create virgin-quality Loop™ branded PET resin suitable for use in food-grade packaging and polyester fiber, thus enabling our customers to meet their sustainability objectives. Loop™ PET plastic and polyester fiber can be recycled infinitely without degradation of quality, helping to close the plastic loop. Loop Industries is committed to contributing to the global movement towards a circul…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 2026
Where the money goes
Where each dollar of revenue went, fiscal 2026
- Cost of revenue10¢$381.0K
- Research and development90¢$3.5M
Out of $514.0K in revenue.3 The company lost money this year.
Financial statements
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $06 | $07 | $08 | $09 | $173.0K10 | $153.0K11 | $10.9M3 | $514.0K3 |
| Cost of revenue | $218.0K3 | $381.0K3 | ||||||
| Research and development | $3.4M6 | $4.7M7 | $18.7M8 | $27.7M9 | $17.3M10 | $11.4M11 | $6.6M3 | $3.5M3 |
| Operating expenses | $41.1M9 | $38.3M10 | $21.9M11 | $24.9M3 | $10.3M3 | |||
| Operating income | ||||||||
| Interest | $467.1K6 | $2.2M7 | $82.0K8 | $154.3K8 | ||||
| Income before tax | -$15.1M3 | -$12.3M3 | ||||||
| Income tax | $06 | $07 | $08 | $09 | $010 | $011 | $03 | $03 |
| Net income | -$17.5M6 | -$14.5M7 | -$36.3M8 | -$44.9M9 | -$21.3M10 | -$21.1M11 | -$15.1M3 | -$12.3M3 |
| Earnings per share | -$0.323 | -$0.263 | ||||||
| Earnings per share (diluted) | -$0.4411 | -$0.3211 | ||||||
| Shares (weighted, basic) | 47.6M shares3 | 48.0M shares3 | ||||||
| Shares (weighted, diluted) | 47.5M shares11 | 47.6M shares11 |
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash | $5.8M7 | $33.7M7 | $35.2M8 | $44.1M9 | $29.6M10 | $7.0M10 | $13.0M3 | $2.4M3 |
| Receivables | $351.0K11 | $639.0K3 | $755.0K3 | |||||
| Inventory | $09 | $727.0K10 | $102.0K11 | $82.0K3 | $03 | |||
| Current assets | $6.7M6 | $34.5M7 | $37.6M8 | $52.1M9 | $36.4M10 | $8.0M11 | $13.9M3 | $3.6M3 |
| Property, plant and equipment | $5.7M9 | $2.5M10 | $10.6M11 | $1.7M3 | $1.7M3 | |||
| Intangible assets | $1.0M9 | $1.2M10 | $1.5M11 | $1.7M3 | $1.8M3 | |||
| Total assets | $12.2M6 | $42.8M7 | $43.4M8 | $59.2M9 | $40.6M10 | $20.6M11 | $18.6M3 | $8.6M3 |
| Accounts payable | $2.0M3 | $729.0K3 | ||||||
| Short-term debt | $09 | $62.0K10 | $100.0K11 | $312.0K3 | $605.0K3 | |||
| Current liabilities | $8.6M6 | $2.1M7 | $9.1M8 | $9.8M9 | $3.6M10 | $2.4M11 | $4.0M3 | $2.8M3 |
| Long-term debt | $952.4K6 | $2.2M7 | $1.5M8 | $3.4M9 | $3.2M10 | $3.2M11 | $2.8M3 | $2.4M3 |
| Total liabilities | $9.5M6 | $4.4M7 | $10.6M8 | $13.2M9 | $6.8M10 | $6.4M11 | $18.2M3 | $18.1M3 |
| Retained earnings | -$134.6M9 | -$155.9M10 | -$177.0M11 | -$192.0M3 | -$204.3M3 | |||
| Shareholders’ equity | $2.6M7 | $38.5M8 | $32.8M9 | $46.0M10 | $33.7M11 | $14.1M3 | $367.0K3 | -$9.6M3 |
| Shares outstanding | 34.9M shares15 | 39.9M shares6 | 42.4M shares7 | 47.4M shares8 | 47.5M shares9 | 47.5M shares10 | 47.7M shares11 | 48.4M shares3 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | -$7.6M6 | -$9.1M7 | -$22.5M8 | -$40.6M9 | -$34.9M10 | -$18.0M11 | -$2.1M3 | -$10.1M3 |
| Depreciation and amortization | $548.2K9 | $550.0K10 | $535.0K11 | $524.0K3 | $384.0K3 | |||
| Stock-based compensation | $2.1M9 | $10.1M10 | $1.4M11 | $1.4M3 | $1.5M3 | |||
| Capital spending | $1.9M6 | $2.4M7 | $1.7M8 | $4.8M9 | $81.0K10 | $5.2M11 | $011 | |
| Free cash flow | -$9.5M | -$11.5M | -$24.2M | -$45.4M | -$35.0M | -$23.2M | -$2.1M | |
| Cash from investing | -$7.5M9 | $21.3M10 | -$5.6M11 | -$2.0M3 | -$1.2M3 | |||
| Cash from financing | $57.0M9 | $1.0M10 | -$63.0K11 | $10.3M3 | $678.0K3 |
Corporate structure
Loop Industries, 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 Loop Industries, Inc.
- Northern Private Capital Fund I Non-Resident Limited Partnership Filed SCHEDULE 13D/A on Loop Industries, Inc., latest Aug 26, 2026
- GLOBAL VALUE INVESTMENT CORP. Filed SCHEDULE 13D/A on Loop Industries, Inc., latest Jun 24, 2026 (2 filings since Apr 10, 2026)
- SK Geo Centric Co., Ltd. Filed SCHEDULE 13D/A on Loop Industries, Inc., latest Jul 23, 2025 (2 filings since Jul 3, 2025)
- Handelsbanken Fonder AB Filed SC 13G/A on Loop Industries, Inc., latest Jan 23, 2023
- Andrew Lapham Filed SC 13D/A on Loop Industries, Inc., latest Apr 14, 2022
- Loop Industries, Inc. Montreal, Quebec, Canada
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 Loop Industries, 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
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $12.6M3 Feb 28, 2026 | $12.4M3 Feb 28, 2025 | +1.9% |
| Accumulated depreciation | $10.9M3 Feb 28, 2026 | $10.7M3 Feb 28, 2025 | +2.5% |
| Property and equipment, net | $1.7M3 Feb 28, 2026 | $1.7M3 Feb 28, 2025 | −2.2% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $2.4M3 Feb 28, 2026 | $13.0M3 Feb 28, 2025 | −81.8% |
| Long-term investments | $1.5M3 Feb 28, 2026 | $1.3M3 Feb 28, 2025 | +15.4% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Intangible assets, net (excluding goodwill) | $1.8M3 Feb 28, 2026 | $1.7M3 Feb 28, 2025 | +4.0% |
| Finite-lived intangibles, gross | $2.4M11 Feb 28, 2025 | $2.0M11 Feb 29, 2024 | +22.5% |
| Accumulated amortization | -$581.0K11 Feb 28, 2025 | -$379.0K11 Feb 29, 2024 | −53.3% |
| Finite-lived intangibles, net | $1.7M11 Feb 28, 2025 | $1.5M11 Feb 29, 2024 | +10.3% |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $03 Feb 28, 2026 | $82.0K3 Feb 28, 2025 | −100.0% |
| Raw materials | $15.0K3 Feb 28, 2026 | $14.0K3 Feb 28, 2025 | +7.1% |
| Work in process | $337.0K3 Feb 28, 2026 | $318.0K3 Feb 28, 2025 | +6.0% |
| Finished goods | $516.0K3 Feb 28, 2026 | $488.0K3 Feb 28, 2025 | +5.7% |
Properties, in its own words
Our Terrebonne Facility and corporate offices are located at 480 Fernand-Poitras, Terrebonne, Québec, Canada J6Y 1Y4. We own the facility, which comprises approximately 33 thousand square feet including 13 thousand square feet for our executive offices and 20 thousand square feet for our innovation and operational activities. We believe that our existing facilities are adequate for our current needs.
Item 2 of the 10-K filed May 27, 2026.5
Leadership
Who has led Loop Industries, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
- Chief executive officerDaniel Solomita Jul 1, 2019 to now16
- PresidentDaniel Solomita Nov 3, 2015 to now17
- Chief financial officerSpencer Hart Apr 10, 2026 to now18
- Chief financial officerNotaris Mike De Nov 10, 2025 to Apr 10, 202619
- Chief financial officerNicolas Lafond Jan 9, 2023 to Apr 20, 202320
- Chief financial officerFady Mansour Apr 20, 2023 to Apr 20, 202321
- Chief financial officerThomas Andrew Hickey Mar 2, 2021 to Mar 2, 202122
- Chief financial officerNelson Gentiletti Jan 3, 2019 to Oct 14, 202023
- Chief financial officerDolrae Jennifer Rhee Apr 20, 2017 to Apr 20, 201724
- Chief financial officerFrank Zitella Nov 15, 2017 to Nov 15, 201725
- Chief operating officerAdel Essaddam Mar 17, 2025 to now26
- Chief operating officerNelson Gentiletti Jan 3, 2019 to Oct 14, 202023
Board members and other officers (21)
- Chief Revenue OfficerGiovanni Catino Jul 22, 2025 to now27
- VP, Engineering & ConstructionYves Perron Apr 5, 2022 to Jun 2, 202228
- Chief Technology OfficerStephen Champagne Jun 10, 2020 to Apr 19, 202329
- CMOSheila Morin Oct 7, 2020 to Oct 7, 202030
- Chief Growth OfficerNelson Switzer May 16, 2018 to Mar 21, 201931
- Board memberJeffrey Richart Geygan Geygan Jun 24, 2026 to now32
- Board memberSpencer Hart Feb 14, 2025 to now33
- Board memberLaurent Auguste Jul 8, 2024 to now34
- Board memberLouise S. Sams Jun 30, 2021 to now35
- Board memberJonghyuk Lee Aug 9, 2021 to Aug 9, 202136
- Board memberPeter Kezios Jun 30, 2020 to Jun 30, 202037
- Board memberAndrew Lapham Jul 1, 2019 to Jun 29, 202338
- Board memberLaurence G. Sellyn Apr 13, 2018 to now39
- Board memberSidney Mortimer Horn Dec 17, 2018 to Jul 16, 201940
- Board memberDonald L. Danks Jun 26, 2017 to Jul 13, 201841
- Board memberJay Howard Stubina Jun 26, 2017 to now42
- Board memberLeslie A. Murphy Jul 7, 2017 to Jul 13, 201843
- Board memberShaun B. Higgins Oct 16, 2017 to Jul 13, 201844
- Board memberDaniel Solomita Nov 3, 2015 to now17
- General counselMichel Megelas Jul 8, 2019 to Jul 8, 201945
- General counselAntonella Penta May 16, 2018 to May 16, 201846
Former names
- FIRST AMERICAN GROUP INC.Dec 10, 2010 to Sep 18, 20154
Timeline
- Oct 15, 20268-K Results of operations47
- Oct 1, 20268-K Regulation FD disclosure48
- Sep 17, 20268-K Regulation FD disclosure49
- Sep 8, 20268-K Regulation FD disclosure50
- Aug 28, 20268-K Shareholder vote51
- Aug 19, 20268-K Entered a material agreement; Other events52
- Jul 29, 20268-K Listing notice or transfer53
- Jul 14, 20268-K Results of operations54
- Jun 23, 20268-K Executive or director change55
- May 28, 20268-K Results of operations56
- Jan 14, 20268-K Results of operations57
- Jan 8, 20268-K Executive or director change; Other events58
- Jul 1, 2019New chief executive Daniel Solomita becomes CEO16
- Mar 11, 2010Founded Loop Industries, Inc. is founded2
Calendar
Coming up
- Around Jan 16, 2027Next results, estimated About a quarter after its last report. The company hasn't announced the date.
When it reported results
- Oct 15, 2026Reported quarterly or annual results47
- Jul 14, 2026Reported quarterly or annual results54
- May 28, 2026Reported quarterly or annual results56
- Jan 14, 2026Reported quarterly or annual results57
- Oct 16, 2025Reported quarterly or annual results59
- Jul 15, 2025Reported quarterly or annual results60
- May 30, 2025Reported quarterly or annual results61
- Jan 15, 2025Reported quarterly or annual results62
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
178 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 62 major events, 62 insider forms, 7 large holders, 26 other. The latest 20:
- Oct 15, 20268-K EDGAR
- Oct 1, 20268-K EDGAR
- Sep 17, 20268-K EDGAR
- Sep 8, 20268-K EDGAR
- Aug 28, 20268-K EDGAR
- Aug 26, 2026SCHEDULE 13D/A EDGAR
- Aug 20, 20264 EDGAR
- Aug 19, 20268-K EDGAR
- Jul 31, 20264 EDGAR
- Jul 29, 20268-K EDGAR
- Jul 27, 20264 EDGAR
- Jul 24, 20264 EDGAR
- Jul 24, 20264 EDGAR
- Jul 24, 20264 EDGAR
- Jul 24, 20264 EDGAR
- Jul 14, 202610-Q EDGAR
- Jul 14, 20268-K EDGAR
- Jun 24, 20263 EDGAR
- Jun 24, 2026SCHEDULE 13D/A EDGAR
- Jun 23, 20268-K EDGAR
The 178 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
24 open-market trades by officers, directors and large owners since October 2021: 22 buys and 2 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 19, 2026 | GEYGAN JEFFREY RICHARTDirector | Buy | 1,090 | $0.64 | $698 | Form 4 |
| Aug 18, 2026 | GEYGAN JEFFREY RICHARTDirector | Buy | 22,100 | $0.64 | $14.1K | Form 4 |
| Jul 31, 2026 | GEYGAN JEFFREY RICHARTDirector | Buy | 30,800 | $0.73 | $22.5K | Form 4 |
| Jul 30, 2026 | GEYGAN JEFFREY RICHARTDirector | Buy | 62,895 | $0.75 | $47.2K | Form 4 |
| Jul 29, 2026 | GEYGAN JEFFREY RICHARTDirector | Buy | 6,610 | $0.73 | $4.8K | Form 4 |
| Nov 10, 2025 | Hart SpencerChief Financial Officer | Buy | 50,000 | $1.32 | $66.0K | Form 4 |
| Aug 5, 2025 | Hart SpencerChief Financial Officer | Buy | 20,000 | $1.66 | $33.2K | Form 4 |
| Jul 28, 2025 | Hart SpencerChief Financial Officer | Buy | 29,121 | $1.65 | $48.0K | Form 4 |
| Jul 25, 2025 | Hart SpencerChief Financial Officer | Buy | 27,562 | $1.32 | $36.4K | Form 4 |
| Jul 24, 2025 | Hart SpencerChief Financial Officer | Buy | 41,317 | $1.25 | $51.6K | Form 4 |
| Jul 23, 2025 | Solomita DanielChief Executive Officer | Buy | 906,794 | $1.01 | $915.9K | Form 4 |
| Jul 23, 2025 | Sellyn Laurence G.Director | Buy | 150,000 | $1.01 | $151.5K | Form 4 |
| Jul 23, 2025 | CATINO GIOVANNIChief Revenue Officer | Buy | 150,000 | $1.01 | $151.5K | Form 4 |
| Jul 23, 2025 | Stubina Jay HowardDirector | Buy | 150,000 | $1.01 | $151.5K | Form 4 |
| Feb 20, 2025 | Hart SpencerChief Financial Officer | Buy | 55,000 | $1.29 | $71.0K | Form 4 |
| Feb 19, 2025 | Hart SpencerChief Financial Officer | Buy | 73,201 | $1.25 | $91.5K | Form 4 |
| Feb 18, 2025 | Hart SpencerChief Financial Officer | Buy | 21,245 | $1.21 | $25.7K | Form 4 |
| Jan 23, 2025 | Stubina Jay HowardDirector | Buy | 50,000 | $1.20 | $60.0K | Form 4 |
| Jan 22, 2025 | Sellyn Laurence G.Director | Buy | 20,063 | $1.15 | $23.1K | Form 4 |
| Jan 21, 2025 | Sellyn Laurence G.Director | Buy | 29,937 | $1.05 | $31.4K | Form 4 |
All 24 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.
- Northern Private Capital Fund I Non-Resident Limited PartnershipSCHEDULE 13D/A, 1 filing Aug 26, 202663
- GLOBAL VALUE INVESTMENT CORP.SCHEDULE 13D/A, 2 filings Apr 10, 2026 to Jun 24, 202664
- SK Geo Centric Co., Ltd.SCHEDULE 13D/A, 2 filings Jul 3, 2025 to Jul 23, 202565
- Handelsbanken Fonder ABSC 13G/A, 1 filing Jan 23, 202366
- Andrew LaphamSC 13D/A, 1 filing Apr 14, 202267
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.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2026 | Daniel SolomitaChief Executive Officer | 50 | $431.7K | $1.5M68 |
| 2026 | Spencer HartChief Financial Officer | 60 | $30.8K | $738.4K68 |
| 2026 | Adel EssaddamChief Operating Officer | 31 | $180.2K | $501.8K68 |
| 2025 | Daniel SolomitaChief Executive Officer | 50 | $432.8K | $555.7K68 |
| 2025 | Adel EssaddamChief Operating Officer | 31 | $180.7K | $329.1K68 |
SEC filer profile
How Loop Industries, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARLoop Industries, Inc.1
- CIK0001504678
- Employer ID (EIN)27-20947065
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company5
- Incorporated inNevada5
- Fiscal year endsFebruary 281
- Industry code (SIC)2800 Chemicals & Allied Products1
- SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
- Business address480 Fernand Poitras, Terrebonne, A8 J6Y 1Y41
- Phone450-951-85551
- Shares outstanding48,380,371 as of Jul 14, 202614
- Public float$39.5M as of Aug 29, 20255
- AuditorPricewaterhouseCoopers LLP, Montréal, Canada PCAOB ID 271; no auditor attestation of internal control over financial reporting5
- On EDGAR sinceDec 10, 20101
- Filings493 in all: 8-K (149), 4 (103), 10-Q (46), 3 (38), UPLOAD (21), 10-K (15), CORRESP (10), DEF 14A (9)1
All 42 form types
10-Q/A (7), 424B5 (6), 8-K/A (6), EFFECT (6), 10-K/A (5), ARS (5), DEFA14A (5), S-1/A (5), S-3 (5), CT ORDER (4), DEF 14C (4), PRER14C (4), SC 13D (4), SCHEDULE 13D/A (4), 424B3 (3), D (3), PRE 14C (3), S-8 (3), SC 13D/A (3), NT 10-K (2), NT 10-Q (2), 3/A (1), 4/A (1), 424B4 (1), 8-A12B (1), 8-A12G (1), CERTNAS (1), PRE 14A (1), S-1 (1), S-3/A (1), S-8 POS (1), SC 13G (1), SC 13G/A (1), SCHEDULE 13D (1)
- Latest filingsAnnual report (10-K) May 27, 2026
Quarterly report (10-Q) Jul 14, 2026
Proxy statement (DEF 14A) Jun 9, 2026
Latest 8-K (8-K) Oct 15, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common stock, par value $0.0001 per share | LOOP | Nasdaq |
From the cover page of the 10-K filed May 27, 2026 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
The risks Loop Industries, Inc. names in Item 1A of its 10-K filed May 27, 2026: 27 risks under these headings, as written.5
- RISKS RELATING TO OUR BUSINESS AND TECHNOLOGY
- We have incurred net losses since inception. We expect to continue to incur losses for the foreseeable future and may never achieve or maintain profitability.
- We may not be able to execute our business plan or stay in business without additional funding.
- Conditions in the financial markets and economic conditions in general may adversely affect our ability to raise additional capital, execute our business plan or remain in business.
- Our technology may not be successful in achieving widespread commercial success at scale.
- We face business risks due to our relationships with strategic partners and other factors that may affect our joint venture endeavors.
- If we are unable to successfully scale our manufacturing processes, we may not meet customer demand.
- Our joint venture with Ester to construct and operate a manufacturing facility in India involves significant risks, and any delays or disruptions could adversely affect our business, financial condition, and prospects.
- We may not realize the expected benefits and may face risks associated with our licensing arrangements, and our ability to continue to generate significant revenue from technology licensing may be limited or delayed.
- We operate in a highly competitive and rapidly evolving industry, and increased competition or technological advances could adversely affect our business, financial condition, and results of operations.
- We are vulnerable to fluctuations in the supply and price of raw materials.
- The loss of the services of Mr. Daniel Solomita, our President and Chief Executive Officer, and Chairman of the Board of Directors, or our failure to timely identify and retain competent personnel could negatively impact our ability to develop our business.
The other 16 risks
- We are subject to certain risks related to litigation filed by or against us and investigations we are subject to, and adverse results may harm our business.
- We are subject to an SEC Investigation which could have a material adverse impact on our business, financial condition, results of operation, cash flows and reputation.
- Our Terrebonne Facility or other planned facilities must operate under policies, procedures, and controls for the operation of a chemical manufacturing facility as required under various federal, provincial and local regulations and codes. Failure to comply with such regulations and codes may lead to disruption of operations at the Terrebonne Facility or other planned facilities and the development of our technology, and financial sanctions.
- Our failure to protect our intellectual property and proprietary technology may significantly impair our competitive advantage.
- We may face costly intellectual property infringement claims, the result of which would decrease the amount of cash available to operate and complete our business plan.
- We rely in part on trade secrets to protect our technology, and our failure to obtain or maintain trade secret protection could harm our business.
- If our information technology systems or data, or those of third parties upon which we rely, are or were compromised, we could experience material adverse effects on our business, financial condition, results of operations and prospects.
- If we fail to maintain an effective system of internal control over financial reporting, we may not be able to accurately or timely report our financial condition or results of operations, which may adversely affect investor confidence in us and the price of our common stock.
- We are subject to risks associated with currency fluctuations, and changes in foreign currency exchange rates could impact our results of operations.
- We are subject to extensive and evolving domestic and global legal and regulatory requirements, and failure to obtain or maintain necessary approvals and comply with applicable laws could adversely affect our ability to commercialize our technology and operate our business.
- RISKS ASSOCIATED WITH OUR SECURITIES
- Our current arrangements contain certain restrictions and potential cash obligations, and raising additional funds may cause dilution to our existing stockholders, restrict our operations or require us to relinquish rights to our technologies.
- Trading volume in our stock can fluctuate and an active trading market for our common stock may not be available on a consistent basis to provide stockholders with adequate liquidity. Our stock price may be volatile, and our stockholders could incur significant investment losses.
- Our President and Chief Executive Officer and Chairman of the Board of Directors, Mr. Daniel Solomita, beneficially owns a majority of the total voting power of our capital stock, and accordingly, has control over stockholder matters, our business and management.
- Anti-takeover effects of certain provisions of Nevada state law hinder a potential takeover of our company.
- Because we do not intend to pay any cash dividends on our common stock, our stockholders will not be able to receive a return on their shares unless they sell them.
- Sales of a significant number of shares of our common stock in the public markets, or the perception that such sales could occur, could depress the market price of our common stock.
Legal proceedings
SEC Investigation
As previously disclosed, we received a subpoena from the SEC in October 2020 requesting certain information from us, including information regarding testing, testing results and details of results from our GEN I and GEN II technologies, and certain of our partnerships and agreements. In March 2022, we received a second subpoena requesting additional information, including information concerning our reverse-merger in 2015, and communications with certain individuals and entities. There have been no additional information requests from the SEC relating to the Company’s business or technology.
The SEC informed us that its investigation does not mean that the SEC has concluded that anyone has violated the law and that the investigation does not mean that the SEC has a negative opinion of us. We cannot predict when this matter will be resolved or what, if any, action the SEC may take following the conclusion of the investigation.
On September 30, 2022, the SEC filed a complaint (the “SEC complaint”) against several named defendants (“Defendants”), and also identified as a relief defendant Daniel Solomita, our Chief Executive Officer. The SEC complaint does not allege wrongdoing by the Company or Mr. Solomita. The SEC complaint identifies Mr. Solomita and an entity he owns as relief defendants because they purportedly received monies from the Defendants in 2015 that the SEC alleges were derived from the Defendants’ fraud. The SEC complaint does not allege that Mr. Solomita was aware of the alleged wrongdoing by the Defendants and does not allege that he was aware that any alleged monies received were derived from fraud.
The opening of Item 3, Legal Proceedings.5
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 17SEC EDGARDaniel Solomita, President
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- 30SEC EDGARSheila Morin, CMO
- 31SEC EDGARNelson Switzer, Chief Growth Officer
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- 33SEC EDGARSpencer Hart, Board member
- 34SEC EDGARLaurent Auguste, Board member
- 35SEC EDGARLouise S. Sams, Board member
- 36SEC EDGARJonghyuk Lee, Board member
- 37SEC EDGARPeter Kezios, Board member
- 38SEC EDGARAndrew Lapham, Board member
- 39SEC EDGARLaurence G. Sellyn, Board member
- 40SEC EDGARSidney Mortimer Horn, Board member
- 41SEC EDGARDonald L. Danks, Board member
- 42SEC EDGARJay Howard Stubina, Board member
- 43SEC EDGARLeslie A. Murphy, Board member
- 44SEC EDGARShaun B. Higgins, Board member
- 45SEC EDGARMichel Megelas, General counsel
- 46SEC EDGARAntonella Penta, General counsel
- 47SEC EDGARResults of operations
- 48SEC EDGARRegulation FD disclosure
- 49SEC EDGARRegulation FD disclosure
- 50SEC EDGARRegulation FD disclosure
- 51SEC EDGARShareholder vote
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- 53SEC EDGARListing notice or transfer
- 54SEC EDGARResults of operations
- 55SEC EDGARExecutive or director change
- 56SEC EDGARResults of operations
- 57SEC EDGARResults of operations
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