Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. sophomore Avg
|
New words:
alleviate, Amazon, antidilutive, attack, attempted, avoid, breadth, broadly, commensurate, comprehending, conclusion, Connecticut, cyber, cybersecurity, daily, damage, deeper, defeat, defensive, degrade, derecognition, digestible, disaster, disposed, dormant, earnout, ERP, excise, Final, flaw, grasp, inappropriate, Indiana, inquiry, intentionally, IRA, Jersey, Kingdom, knew, knowingly, launched, liable, main, meant, mix, Montana, neglect, nondeductible, nongovernmental, nonpublic, Oregon, pharma, PHI, precuring, rebuilding, reconciling, recurrence, replication, repurchase, repurchased, rigid, runoff, sabotage, SDoH, speed, strong, surrendering, tabular, Tennessee, therapy, thereon, threaten, transformation, unamortized, unconditional, unified, unissued, unsuccessful, Utah, Vox, withholding
Removed:
abroad, adhere, affecting, alleged, answer, approximated, area, argued, Asia, big, billed, built, cannabinoid, carried, case, category, cease, central, chain, clean, cloud, competition, compute, computed, concomitantly, consistency, contemplating, convergence, COR, cultivation, cultivator, dated, deleting, deletion, Delta, description, differentiated, disease, dissemination, distribute, distribution, dividing, doubtful, drift, easily, elastic, encourage, enforced, enforcement, epidemic, escalating, EU, evolution, exceeded, exchanged, extensive, forma, foundational, fulfill, fundamentally, governing, governmental, handle, handling, idle, inadvertent, inconsistently, indemnification, intelligent, intense, isolated, join, Lake, lifecycle, longitudinally, losing, manifest, manufacturing, mapped, natively, observe, observed, overarching, paired, partnership, percent, pipeline, portfolio, possession, predictive, principally, pro, profiling, profitably, programmatic, promoting, propagated, proper, prosecution, proven, Puerto, put, ratio, recession, reflecting, regime, reidentification, Rico, running, safely, schema, seed, shared, specifically, statistical, streamlined, strict, subsided, tenured, tool, traceability, tracing, tracking, train, training, transparency, trial, updating, versioning, vertical, vertically, voluntarily, yielding
Financial report summary
?Risks
- We have a limited operating and financial history.
- We may need additional capital to fund our operations.
- We could lose our access to data from external sources, which could prevent us from providing our solutions.
- If we do not successfully develop and deploy new products and technologies to address the needs of our customers, our business and results of operations could suffer.
- We depend on computing infrastructure operated by third parties to support some of our solutions and customers, and any errors, disruption, performance problems, or failure in their or our operational infrastructure could adversely affect our business, financial condition and results of operations.
- We rely on third parties for certain services made available to users of our platforms, which could limit our control over the quality of the user experience and our cost of providing services.
- We may not be able to successfully manage our intellectual property and we may be subject to infringement claims.
- Real or perceived errors, failures, defects or bugs in our platforms, products or services could adversely affect our results of operations and growth prospects.
- In a dynamic industry like ours, our success and growth depend on our ability to attract, recruit, retain and develop qualified employees.
- We have identified material weaknesses in our internal control over financial reporting which, if not timely remediated, may adversely affect the accuracy and reliability of our financial statements and our reputation, business and stock price, as well as lead to a loss of investor confidence in us.
- If our internal control over financial reporting or our disclosure controls and procedures are not effective, we may not be able to accurately report our financial results, prevent fraud or file our periodic reports in a timely manner, which may cause investors to lose confidence in our reported financial information and may lead to a decline in our stock price.
- We may be unable to accurately forecast our operating results and growth rate, which may adversely affect our reported results and stock price.
- Consolidation in the industries in which our customers operate may reduce the volume of services purchased by consolidated customers following an acquisition or merger, which could materially harm our operating results and financial condition.
- Federal and state privacy and data protection laws are evolving and compliance with applicable requirements may increase our operating costs or adversely impact our ability to service our customers and market our products and services.
- Security breaches and unauthorized use of our systems and information could expose us, our customers, our data suppliers or others to risk of loss.
- If we fail to perform our services in accordance with contractual requirements, regulatory standards and ethical considerations, we could be subject to significant costs or liability and our reputation could be harmed.
- The market price of our common stock may be volatile, and holders of our common stock could lose a significant portion of their investment due to drops in the market price of our common stock.
- We do not intend to pay dividends on our common stock, so any returns will be limited to the value of our stock.
- The directors and management of Forian own a significant percentage of our common stock and are able to exert significant control over matters subject to stockholder approval.
- Raising additional capital may cause dilution to our existing stockholders, restrict our operations or require us to relinquish rights to our technologies or product candidates.
- Sales of a substantial number of shares of our common stock by our existing stockholders in the public market could cause our stock price to fall.
- Our bylaws contain forum limitations for certain disputes between us and our stockholders that could limit the ability of stockholders to bring claims against us or our directors, officers and employees in jurisdictions preferred by stockholders.
- We are an emerging growth company and a smaller reporting company, and we cannot be certain if the reduced reporting requirements applicable to emerging growth companies and smaller reporting companies will make our common stock less attractive to investors.
- We may be at an increased risk of securities class action litigation.
Management Discussion
- Forian Inc. (the “Company,” “Forian,” “we” or “us”) was incorporated in Delaware on October 15, 2020 as a wholly owned subsidiary of Medical Outcomes Research Analytics, LLC (“MOR”) for the purpose of effecting the business combination with Helix Technologies, Inc. (“Helix”). Forian provides a unique suite of data management capabilities and proprietary information and analytics solutions to optimize and measure operational, clinical and financial performance for customers within the healthcare and life sciences industries.
- The business combination with Helix was accounted for as a reverse acquisition using the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) Topic 805, Business Combinations (“ASC 805”), with the Company deemed the accounting acquirer for financial reporting purposes. Helix provided software and analytics solutions to state governments and licensed operators within the cannabis industry, primarily through its subsidiary, Bio-Tech Medical Software, Inc. (“BioTrack”), until its sale of BioTrack in 2023.
- On February 10, 2023, Helix completed the sale of 100% of the outstanding capital stock of BioTrack; on March 3, 2022, Helix completed the sale of the assets of its security monitoring business; and on October 31, 2022, Helix completed the sale of 100% of the outstanding membership interest of its Engeni LLC subsidiary (these businesses are referred to collectively as the “Helix Businesses”). As a result of these transactions, Helix has no remaining active operations and the Company no longer provides products or services to the cannabis industry. The results of the Helix Businesses are presented as discontinued operations in the Consolidated Statements of Operations and, as such, have been excluded from continuing operations. Further, the Company reclassified the assets and liabilities of the Helix Businesses to discontinued operations in the Consolidated Balance Sheet as of December 31, 2022. The Company will continue to provide analytics solutions to customers within the healthcare and life sciences industries.