Content analysis
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Legalese | ||
Litigous | ||
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H.S. junior Avg
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New words:
abroad, absence, absorption, accommodate, accredited, accuracy, adapt, adaptability, adapting, add, added, adequacy, adequate, adequately, adhere, adjacent, administer, administered, advertising, afford, agency, aggressively, aging, AI, alleged, alleviate, allocate, allocated, allocating, allocation, alter, alternate, alternative, altogether, ambiguity, American, analyst, analyze, analyzed, ancillary, anniversary, announced, antidilutive, appointing, area, arise, arisen, arising, artificial, Asia, assemble, assembly, assert, asserting, assertion, assumption, attach, attain, attempt, attempted, attempting, attended, attention, attract, attributable, attrition, augmented, automation, back, bad, Baird, ban, bankruptcy, battery, Beaumont, began, behalf, beneficial, beneficially, biased, bill, billion, binding, biorisk, Blashack, block, blue, border, bore, brand, branding, bribery, bring, broader, broadly, brought, budget, Budgetary, budgeting, build, built, bundled, buy, calibration, California, camera, Cap, capability, capacity, capture, carbon, carefully, Casualty, catastrophic, cautionary, cautioned, CBP, CEO, certify, chain, challenged, challenging, Chancery, channel, characterized, charge, charged, China, choice, choose, chosen, circumvent, circumvented, cited, civil, climate, closure, cloud, code, CODM, cold, collateral, comfortable, commensurate, Commerce, committee, commodity, comparability, comparable, compared, comparing, compete, competent, competing, competition, competitive, competitively, complaint, complex, complexity, composition, comprehensive, comprising, compromise, compromised, conclusively, concurrent, concurrently, confidence, confident, confusion, congressional, consecutive, consent, consolidated, consolidation, construct, construed, consumer, consuming, context, contractor, convenience, conveyor, conviction, convinced, copy, copying, copyright, core, correct, correctly, correlate, correlation, corrupt, corruption, costly, count, country, court, create, created, criminal, criminally, critical, crude, culminate, culture, currency, customer, cyber, cybersecurity, cycle, cyclical, damage, damaged, David, death, debarment, debarred, deception, decide, deciding, decline, decommissioning, default, defect, defective, defend, defending, defense, defensive, degradation, degree, delay, delayed, delaying, delisted, delisting, deliver, delivering, delivery, demonstrated, demonstrating, denial, deployed, deployment, depreciation, deprive, desired, DetectIR, deterministic, deterring, device, devote, DGCL, diagnose, dialogue, difficulty, diminished, disability, disadvantage, disaggregated, disagree, disapproval, disaster, discontinuation, discontinue, discourage, discouraging, discovered, Discovering, discrimination, disease, disparate, disposal, dispose, disposition, dispute, disrupt, disrupted, disruption, distributor, district, diverse, diversion, divert, diverted, doctrine, documented, domiciled, downgrade, dramatically, driven, Drug, DTC, duly, duration, duty, earthquake, East, Eastern, EBITDA, economic, economy, Edge, efficiency, effort, electrified, electronic, eligible, eliminated, emission, emphasize, employ, employee, employment, enable, enacted, encounter, encountered, encountering, encryption, endangerment, energy, enforce, enforceability, enforceable, enforced, enforcement, enforcing, engineer, engineering, entertain, entrance, entry, environment, environmental, EPA, equipment, ERISA, escalation, Europe, European, evolve, evolving, exacerbated, exacting, exceeding, exert, exit, expand, expanded, expanding, expansion, expend, expended, experience, experimenting, expertise, explicitly, exploiting, exploration, export, exporting, expose, exposed, exposure, external, extreme, face, faced, facially, facilitate, facility, factor, factual, failure, fall, favorable, FCPA, FDA, feasible, fewer, fiduciary, field, filer, fill, fire, firm, firmware, fixed, flexibility, flood, flow, fluctuate, fluctuated, FMX, focused, Food, force, forced, forecast, forecasted, foreclose, forefront, foreseeable, foreseen, forfeiture, Forma, forum, forward, found, free, frequency, frequent, frequently, frustrate, fuel, functional, functionality, gain, Gary, gas, geographic, geopolitical, GHG, global, globally, goodwill, governmental, great, greenhouse, grow, guarantee, hacking, hamper, harbor, hardware, harm, harmed, harsh, health, hearing, heavily, heightened, hereinafter, hereof, high, highly, hinder, hire, historical, historically, history, hostile, hosting, hour, Human, hurricane, hydrocarbon, illegal, image, imaging, impede, implement, implementation, implemented, implementing, import, important, importation, imposition, impracticable, imprecise, imprisonment, improper, improperly, improve, improved, improvement, improving, inability, inaccurate, inadvertence, inadvertently, inapplicable, incident, inclusion, incomplete, inconsistent, incorrect, incorrectly, increasingly, incremental, incurrence, indeterminate, indirect, industrial, industry, ineffective, inexperience, influence, influenced, infrastructure, infringe, infringement, infringing, injunction, injury, innovation, innovative, inoperable, insider, instability, installation, instance, insufficient, intangible, intellectual, intelligence, intense, intensity, intercompany, interruption, Intraday, invalidate, invalidated, invalidation, inventor, inventory, investigating, investor, Israel, ITAR, jeopardize, Jill, judicial, key, knowledge, labeling, labor, lack, landscape, lapsed, large, largely, larger, launch, launched, launching, laundering, lawsuit, lead, leak, learning, led, Legacy, legislation, Legislative, lend, length, lengthy, lessen, lesser, leverage, levied, license, licensed, licensing, lieu, line, listed, listing, litigate, litigation, local, lose, lot, low, lower, machine, machinery, macroeconomic, magnify, mail, mailed, maintenance, maker, manufacture, manufactured, manufacturer, manufacturing, margin, master, maximize, meaningful, media, median, member, merit, method, Middle, midstream, military, minimize, misallocate, misappropriated, misappropriation, misuse, mitigate, mitigation, mix, model, modification, monetary, monitor, monitoring, moot, mooted, motivate, move, movement, MSAI, MultiSensor, narrowed, nascent, Nasdaq, national, navigate, Navigating, network, nominal, noncompliance, notified, objective, obsolete, official, oil, onboarding, ongoing, online, open, optimally, organizational, outage, outbound, outlined, overcome, overcoming, overestimated, overpayment, oversight, ownership, package, Pad, pairing, panel, partner, partnership, passed, past, patent, patentable, patented, payoff, payroll, PCAOB, pecuniary, penalty, pending, penetrating, people, percentage, perception, person, personal, persuaded, Peter, phishing, physical, pill, pilot, pipeline, pivoted, plant, pledge, point, poison, policy, political, populated, portfolio, postage, postpone, postponed, postponement, power, practical, practice, preclude, precluding, predict, predicted, predicting, predictive, preliminary, premium, prescribed, presence, President, presidential, pressure, prevail, prime, privacy, proactively, problem, proceeding, procure, procurement, procuring, produce, produced, producing, program, prohibit, prohibited, projected, projecting, promise, promised, promising, prone, proper, proportion, proportionate, proprietary, prosecuting, prosecution, protect, protected, protecting, protection, prototyping, prove, proven, province, punitive, pursue, pursuing, put, quality, quantified, quantity, quickly, rank, ransomware, rapid, rapidly, ratably, raw, reaction, recall, recommendation, reconfigure, reconsider, recover, recoverability, recoverable, recovered, recovery, recruit, recruiting, recruitment, rectifying, redesign, redundant, refine, Reform, refund, refunded, region, regional, regular, regularly, regulatory, reimbursed, relationship, relevant, reliance, relocation, reluctant, remove, renegotiation, renew, renewal, renewed, repaid, repair, replace, replacement, reputable, reputation, reputational, request, requested, resale, rescheduling, research, resold, resolution, resolving, respond, restructuring, resume, retail, retain, retained, retaining, reversal, reverse, revolving, Riley, risky, rolled, rotation, round, rounded, royalty, RSU, Russia, Russian, sabotage, safe, safeguarding, safety, satisfaction, satisfactory, scale, scaled, scaling, scarcity, scenario, schedule, scheduled, scope, screen, secret, sector, segment, segregation, seismic, semiconductor, Senate, senior, sensing, sensitive, sensor, sentiment, separate, separately, serve, session, setback, shareholder, shift, shifting, ship, shipment, shipped, shipping, short, shortage, shutdown, significantly, similarly, simplify, simply, single, skill, skilled, sky, slowly, small, SMAP, SmartIR, social, software, soliciting, solution, solve, sophisticated, sought, SPAC, spare, speak, spending, spot, stability, stabilized, stage, statute, stay, step, Steven, storage, store, Strahan, strain, strategic, Street, strength, strict, stringent, strong, subcontractor, submitted, subscription, subsection, substitute, substitution, successful, successor, sued, suffer, suffered, suitable, suite, summary, superior, supplied, supplier, supply, supplying, susceptible, suspension, switch, system, talented, tank, Tariff, tarnish, team, technical, technological, technology, temporarily, terrorism, terrorist, test, tested, testing, theft, thereof, thereunder, thermal, thermographic, threat, threaten, threatened, timeline, top, tort, trademark, Traffic, train, trained, training, trajectory, transmit, transport, transportation, treated, treble, trickery, turn, type, typically, Ukraine, unanticipated, unauthorized, unavailable, uncollectible, uncommon, unconverted, undelivered, underestimate, undergoing, undermine, understand, understanding, undertaken, underwritten, undetected, unduly, unexpected, unexpired, unfavorable, unforeseeable, unforeseen, Union, unique, unissued, unpatented, unpredictability, unpredictable, unregistered, unrelated, unrestricted, unsatisfactory, unsuccessful, untrue, unwilling, upcoming, upgrade, usability, user, valid, validate, validity, valuable, vandalism, variability, variable, varying, venue, vi, viability, viable, vigorously, violation, visibility, VOC, volatile, volatility, voluntarily, vulnerable, wage, Wall, wallet, warehouse, warranty, water, weaken, weakening, weather, welfare, whichever, whistleblower, wholly, wide, widely, widespread, win, Winch, winning, withheld, worker, workforce, workmanship, worldwide, worse, worsen, worth, write, written, wrongdoing, wrongfully, Xinjiang, yield
Removed:
absolute, abuse, accrete, accretion, addressed, advisor, advisory, affiliate, AFS, amortizable, amortized, annualized, ArentFox, assign, assignable, assist, auditing, authoritative, authority, automatic, aware, blank, book, Borrow, Borrower, calculating, calculation, cancelled, check, circumstance, clarification, clause, clear, closed, codified, commence, commenced, commencing, commit, complicated, compute, computing, conceived, Conditionally, conducted, confirming, conserve, consummate, contingent, controlling, counterparty, Craig, criteria, curtailing, denominator, deposited, depository, derecognition, designate, determinable, deviation, diligence, dilutive, discrepancy, Dissenting, dissolution, Distinguishing, earliest, earned, effecting, effectuate, embedded, endeavor, estimating, excise, exemption, existed, extended, extinguish, extinguished, failed, faith, feature, fee, FINRA, foregoing, formed, formulating, freestanding, fulfillment, golden, good, Group, Hallum, hand, Hedging, holding, identical, implying, indemnity, indexed, infrequent, institution, interpretation, invested, irrevocable, judgement, Jumpstart, Lawson, liquidate, liquidating, LLP, loaned, LOI, Map, maximum, measurement, merge, month, newly, nonbinding, Notwithstanding, numerator, obligated, occasion, occurring, opt, opted, overhead, owed, parachute, participating, partly, permanent, PIPE, presently, proceed, promptly, promulgated, proxy, PubCo, published, purpose, qualification, questioning, quotient, rata, readily, recapitalization, reconciled, redeemable, redeeming, reducing, rendered, represent, repurchase, repurchased, repurchasing, reside, restated, Roth, saleable, Schiff, secretarial, selecting, selection, settle, situation, space, structuring, substance, supervision, surrendered, surrendering, suspending, taxable, taxation, tendered, terminology, thereon, thirty, threshold, title, traded, transferable, transition, traveling, trustee, unclear, underwriter, unexercised, vendor, verified, voluntary, voted, waive, waiving, winding, withdrawn, withdrew
Financial report summary
?Competition
FortiveRisks
- We have a history of losses or low income, and may continue to incur losses or limited income in the future.
- Our revenue and margins could be adversely affected if we fail to maintain competitive average selling prices or high sales volumes, or we fail to reduce product costs.
- If we fail to successfully manage the expansion of our SaaS capabilities and offerings, our business and financial results could be adversely affected.
- We have a limited operating history providing SaaS solutions, which makes it difficult to evaluate our future prospects and the risks and challenges we may encounter.
- If our products are not adopted in our targeted end markets, our business will be materially and adversely affected.
- We expect to incur substantial research and development costs and devote significant resources to developing and commercializing new products, which could significantly affect our ability to become profitable and may never result in revenue. Any delay or interruption of the development and commercialization of new products may adversely affect our existing business and prospects for winning future business.
- Product liability claims, product recalls and field service actions could have a material adverse effect on our reputation, business, results of operations and financial condition and we may have difficulty obtaining product liability and other insurance coverage.
- We may face risks associated with our reliance on certain artificial intelligence and machine learning models.
- We face risks related to sales through distributors and other third parties which could harm our business.
- The period of time from initiating dialogue with potential customers to implementation (sales cycle) is long and we are subject to the risks of cancellation or postponement of the contract or unsuccessful implementation.
- Developments in alternative technologies may adversely affect the demand for our technology.
- Our manufacturing business model and use of contract manufacturers may not be successful, which could harm our ability to deliver products and recognize revenue.
- We operate in a competitive landscape against market participants that may have substantially greater resources than us and against known and unknown market entrants who may disrupt our target markets.
- Our manufacturing costs may increase and result in a market price for our products above the price that customers are willing to pay.
- We, our contract manufacturers and our suppliers may rely on complex machinery for production, which involves a significant degree of risk and uncertainty in terms of operational performance and costs.
- If we do not maintain the correct level of inventory or if we do not adequately manage our inventory, we could lose sales or incur higher inventory-related expenses, which could negatively affect our operating results.
- We will need to raise additional capital in the future in order to execute our business plan, which may not be available on terms acceptable to us, or at all.
- We create innovative technology by designing and developing unique hardware and software solutions. A failure to achieve scale may affect our ability to sell at competitive prices, limit our customer base or lead to losses.
- If we are not able to effectively grow our sales and marketing organization, or maintain or grow an effective network of distributors, our business prospects, results of operations and financial condition could be adversely affected.
- If we engage in acquisitions to grow our business, we will incur a variety of costs and may potentially face numerous risks that could adversely affect our business and operations.
- We cannot guarantee we will optimally manage our lines of business or product lines.
- Certain of our commercial contracts with our customers, agreements with suppliers or co-development agreements with partners could be terminated or may not materialize into long-term contract partnership arrangements.
- The loss of large customers could result in a material adverse effect to our financial results.
- We generate revenue from companies in certain industries that may be subject to significant levels of volatility.
- We are exposed to credit risk on our trade accounts receivable, supplier non-trade receivables, prepayments to manufacturers and software as a service subscription agreement, and this risk is heightened during periods when economic conditions worsen.
- We may not be able to anticipate changing customer and consumer preferences or respond quickly enough to changes in technology and standards to be able to develop and introduce commercially viable products.
- We currently target many customers that are large corporations with substantial negotiating power and exacting product standards.
- Our revenue from U.S. government contracts depends on the continued availability of funding from the U.S. government, and, accordingly, we have the risk that funding for our existing contracts may be canceled or diverted to other uses or delayed or that funding for new programs will not be available.
- Our suppliers could raise prices on key components, which may adversely affect our profitability.
- Key components in our products come from limited or single source third party suppliers. Interruptions in our relationships with these third parties could adversely impact our business.
- Components used in our sensors may fail as a result of manufacturing, design or other defects over which we have no control and render our devices permanently inoperable.
- Product integration could face complications or unpredictable difficulties, which may adversely impact customer adoption of our products and our financial performance.
- The complexity of our products could result in unforeseen delays or expenses from undetected defects, errors or reliability issues in hardware or software that could reduce the market adoption of our new products, damage our reputation with current or prospective customers, expose us to product liability and other claims and adversely affect our operating costs.
- The markets in which we compete are characterized by technological change, which requires us to continue to develop new products and product innovations and could adversely affect market adoption of our products.
- We may incur significant direct or indirect liabilities in connection with its product warranties which could adversely affect our business and operating results.
- Our history of net losses, negative cash flows from operations and negative net working capital raise substantial doubt about our ability to continue as a going concern.
- Our operating results may fluctuate significantly, which makes our future operating results difficult to predict and could cause our operating results to fall below expectations or any guidance we may provide.
- If we fail to maintain an effective system of internal controls, our ability to produce timely and accurate financial statements or comply with applicable regulations could be adversely affected.
- Since many of the markets in which we compete are new and rapidly evolving, it is difficult to forecast long-term end-customer adoption rates and demand for our products.
- Our estimate of total addressable market is subject to numerous uncertainties. If we have overestimated the size of our total addressable market now or in the future, our future growth rate may be limited.
- We are exposed to the risk of write-downs on the value of our inventory and other assets, in addition to purchase commitment cancellation risk.
- Unanticipated changes in effective tax rates or adverse outcomes resulting from examination of our income or other tax returns could adversely affect our financial condition and results of operations.
- We are subject to cybersecurity risks to operational systems, security systems, infrastructure, firmware in our thermal infrared technology and customer data processed by us or third-party vendors or suppliers and any material failure, weakness, interruption, cyber event, incident or breach of security could prevent us from effectively operating our business.
- Our intellectual property applications may not issue or be registered, which may have a material adverse effect on our ability to prevent others from commercially exploiting products similar to ours.
- Claims that we are infringing third-party intellectual property, whether successful or not, could subject us to costly and time-consuming litigation or expensive licenses, and adversely affect our business.
- Interruption or failure of our information technology and communications systems could impact our ability to effectively provide our services.
- Under certain of our agreements, we are required to provide indemnification in the event our technology is alleged to infringe upon the intellectual property rights of third parties.
- We employ third-party licensed software for use in our business, and the inability to maintain these licenses, errors in the software, or the terms of open-source licenses could result in increased costs or reduced service levels, which would adversely affect our business.
- We may not be able to adequately protect or enforce our intellectual property rights or prevent competitors or other unauthorized parties from copying or reverse engineering our technology.
- In addition to patented technology, we rely on our unpatented proprietary technology, copyrights, trade secrets, proprietary processes and know-how.
- We may be subject to damages resulting from claims that we or our employees have wrongfully used or disclosed alleged trade secrets of our employees’ former employers.
- If we fail to comply with the laws and regulations relating to the collection of sales tax and payment of income taxes in the various states in which we do business, we could be exposed to unexpected costs, expenses, penalties and fees as a result of our non-compliance, which could harm our business.
- Our U.S. government contracting activities are subject to government contracting regulations, including increasingly complex regulations on cybersecurity, and our failure to comply with such laws and regulations could harm our operating results and prospects.
- We are subject to U.S. anti-corruption and anti-money laundering laws. We can face criminal liability and other serious consequences for violations, which can harm our business.
- Our products are frequently used in applications that are subject to evolving regulations and standards.
- We are subject to, and must remain in compliance with, numerous laws and governmental regulations concerning the manufacturing, use, distribution and sale of its products. Some of our customers also require that we comply with their own unique requirements relating to these matters.
- Failures, or perceived failures, to comply with privacy, data protection, and information security requirements in the variety of jurisdictions in which we operate may adversely impact our business, and such legal requirements are evolving, uncertain and may require improvements in, or changes to, our policies and operations.
- We are subject to governmental export and import controls and economic sanctions laws and regulations. Our failures to comply with these laws and regulations could have an adverse effect on our business, prospects, financial condition and results of operations.
- Changes to trade policy, tariffs and import/export regulations may have a material adverse effect on our business, financial condition and results of operations.
- Failing to comply with increasing environmental regulations, as well as the effects of potential environmental liabilities, could have a material adverse effect on our business, results of operations or financial condition.
- Regulations associated with climate change could adversely affect our business.
- Our failure to meet the continued listing requirements of The Nasdaq Capital Market could result in a delisting of our Common Stock.
- Due to their ownership of our stock, our directors and executive officers are able to control or exert substantial influence over all matters submitted to our stockholders for approval, including the election of directors and amendments of our organizational documents, and an approval right over any acquisition or liquidation of our company.
- We will incur significant expenses and administrative burdens as a public company, which could negatively impact our business, financial condition and results of operations.
- Under the purchase agreement dated as of April 16, 2024, by and between the Company and B. Riley Principal Capital II, LLC, it is not possible to predict the actual number of shares we will sell to B. Riley Principal Capital II, LLC or the actual gross proceeds resulting from those sales.
- The price and trading volume of our Common Stock and warrants may be fluctuate dramatically.
- We may redeem any unexpired SPAC Warrants prior to their exercise at a time that is disadvantageous to you, thereby making your warrants worthless.
- A substantial number of warrants are exercisable for our Common Stock, which will increase the number of shares eligible for future resale in the public market and result in dilution to our stockholders.
- The SPAC Warrants may never be in the money and they may expire worthless, and the terms of the Public Warrants may be amended in a manner adverse to a holder if holders of at least 50% of the then-outstanding Public Warrants approve of such amendment.
- Because there are no current plans to pay cash dividends on our Common Stock for the foreseeable future, you may not receive any return on investment unless you sell our Common Stock for a price greater than that which you paid for it.
- The future exercise of registration rights may adversely affect the market price of our Common Stock.
- We may issue additional shares of Common Stock or other equity securities without your approval, which would dilute your ownership interests and may depress the market price of our Common Stock.
- Anti-takeover provisions in our certificate of incorporation and under Delaware law could make an acquisition of our company, which may be beneficial to its stockholders, more difficult and may prevent attempts by its stockholders to replace or remove our current management.
- Our certificate of incorporation provides that the Court of Chancery of the State of Delaware and the federal district courts of the United States of America will be the exclusive forums for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
- We may be subject to securities litigation, which is expensive and could divert management attention.
- If we were to lose the services of members of our senior management team, we may not be able to execute our business strategy.
- Our future success depends, in part, on recruiting and retaining key personnel and, if we fail to do so, it may be more difficult for us to execute our business strategy. We are currently a small organization and will need to hire additional qualified personnel to effectively implement our strategic plan.
- Climate change may have a long-term impact on our business.
- Investor sentiment towards climate change and sustainability could adversely affect our business.
- We are currently operating in a period of economic uncertainty and capital markets disruption, which has been significantly impacted by geopolitical instability due to the ongoing Israel-Hamas and Russia-Ukraine military conflicts. Our business, financial condition and results of operations could be materially adversely affected by any negative impact on the global economy and capital markets resulting from such conflicts or any other geopolitical tensions.
- Our business is subject to the risks of earthquakes, fire, floods and other natural catastrophic events, global pandemics, and interruptions by man-made problems, such as terrorism. Material disruptions of our business or information systems resulting from these events could adversely affect our operating results.
- Adverse conditions in our target markets or the global economy more generally could have adverse effects on our results of operations.
- We have been and may in the future become involved in legal and regulatory proceedings and commercial or contractual disputes, which could have a material adverse effect on our profitability and consolidated financial position.
- If securities or industry analysts either do not publish research about us or publish inaccurate or unfavorable research about us, our business or our market, or if they change their recommendations regarding our Common Stock adversely, the trading price or trading volume of our Common Stock could decline.
Management Discussion
- Revenue: Revenue for the three months ended March 31, 2024, was approximately $2.3 million, and increased $1.3 million, or 131%, from approximately $1.0 million for the three months ended March 31, 2023. The increase in revenue of $1.3 million was attributable to an increase in units sold and a favorable shift in product mix, as we sold a higher proportion of higher-priced sensors (such as, IR Pad 640, Gas DetectIR VOC and FMX 400) which was offset by $2.9 million in sales returns for the three months ended March 31, 2024. The sales returns related to a transaction with long-standing customer who also is a launch customer for the MSAI Cloud suite of products. Under the terms of this transaction, certain biorisk-related devices sold to this customer in prior years were exchanged for devices appropriate for industrial use, when combined with the MSAI Edge and MSAI Cloud software. The customer paid cash as well as receiving credit for the returned devices. The returned devices were put back into inventory at net realizable value. There were no sales returns for the three months ended March 31, 2023.