Crown(US:CRKN)2020-09-03 23:38Financial Performance - As of March 31, 2020, the company had a cumulative net loss of $16.4 million since inception, with a net loss of approximately $9.6 million for the year ended March 31, 2020[83]. - The company had negative working capital of approximately $7.3 million and cash of approximately $48,000 as of March 31, 2020[87]. - The company anticipates incurring additional losses until it can obtain marketing approval and generate significant sales[85]. - The company may face substantial doubt about its ability to continue as a going concern due to ongoing losses and negative cash flows[84]. Dividend Policy - The company has never declared or paid cash dividends on its common stock and does not intend to do so in the foreseeable future[90]. Market and Competition - The market for electrokinetic products is intensely competitive, with many competitors having greater resources[92]. - The company relies on licensees for the commercialization of its electrokinetic technology, which may affect profitability[91]. Technology and Operations - The company’s success is contingent upon the viability of its electrokinetic technology, which has yet to be fully proven[96]. - The company faces risks related to health epidemics, which could adversely affect sales and operating results, particularly due to disruptions in production and customer operations[116]. Corporate Governance - The company has anti-takeover provisions that could delay or prevent a change in control, potentially lowering the price for future investors[111]. - The board of directors is empowered to fill vacancies and adopt, amend, or repeal bylaws without stockholder approval[113]. Personnel Dependency - The company is dependent on key personnel, and their loss could adversely affect its business[94]. Financial Instruments - The company has outstanding warrants to purchase an aggregate of 4,092,394 shares at a weighted-average exercise price of $1.15 per share[106].