Content analysis
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H.S. junior Avg
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New words:
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Removed:
absolute, acquire, activate, Activation, actively, affiliated, Affordable, amend, amendment, app, appeal, ascribed, assignment, attestation, authorizing, beachhead, bidding, BMW, Brownian, caption, Care, Carlo, cast, climate, collected, committee, component, conclude, consent, conversion, converted, covenant, coverage, customization, designing, desired, discussed, divest, divided, ELD, electronically, element, employed, enter, Ernst, Europe, European, evidence, evolved, exceeded, excise, execute, exercisable, existed, expansion, expiration, fact, fairly, filed, firm, forma, fourth, frequently, fulfilling, functional, funded, Geometric, German, GmbH, governing, Historically, hold, holder, Holding, impose, imposition, incur, indefinite, independent, initially, injection, installed, interface, introduced, IRA, irrevocable, Israeli, issuable, January, Justice, language, lawsuit, legislation, LIBOR, license, lieu, limitation, linked, liquidate, liquidation, list, LLP, low, manner, matter, measuring, meeting, methodology, Mexican, Mexico, Monte, motivation, MTS, noncash, nondeductible, obligated, opened, organizational, outbreak, Overnight, passage, perpetual, person, phase, pledge, portfolio, power, precision, predict, preference, President, prevalent, priority, pro, production, professional, promote, properly, purport, quotient, reach, readily, recovery, referred, registered, Reinsurance, released, remeasured, remediate, removal, rendering, repurchased, requirement, restrictive, revocation, Revolver, SCHEDULE, science, Seller, semiconductor, shutting, simulation, softening, SPA, spending, Sponsoring, statue, statute, stop, subsidizing, sum, Supplementary, sustainability, sustainable, sustained, tested, thereon, thereunder, threshold, tool, traded, trademark, trading, translated, Treadway, underpayment, unpaid, unutilized, USD, verify, vest, Vodafone, vote, VWAP, warrant, warranted, website, weighted, workmanship, written, Young
Financial report summary
?Management Discussion
- Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
- In connection with the preparation of the Company’s audited consolidated financial statements for the year ended December 31, 2023, the Company determined that the accounting for the redemption premium associated with its Series A convertible preferred stock (“Series A Preferred Stock”) was understated resulting in an understatement of “net loss attributable to common stockholders” and “net loss per share attributable to common stockholders” for each period, an understatement of the value of the convertible redeemable preferred stock as of each balance sheet date, and an overstatement of the additional paid-in capital as of each balance sheet date. The required adjustments to correct the redemption value of the calculation of the Series A Preferred Stock and the related accretion of the value of the preferred stock in the consolidated statement of operations included the recording of a non-cash accretion which resulted in an increase in the net loss attributable to common stockholders, an increase in the “convertible redeemable preferred stock”, and a decrease of “additional paid-in capital” for the fiscal years ended December 31, 2021 and 2022 and each of the interim periods during the 2022 and 2023 fiscal years.
- The correction of the error resulted in reporting the value of the convertible preferred stock including the accretion to the redemption value from the date of original issuance through each balance sheet date applying the interest method. The Company had determined that it was appropriate to restate the financial statements for the fiscal years ended December 31, 2021 and 2022 and each of the interim periods during the 2022 and 2023 fiscal years included in the 2023 Annual Report. In addition, the Company also corrected other unrelated immaterial errors that were previously either unrecorded or recorded as out-of-period adjustments. For additional information refer to Note 2 to the financial statements included in the 2023 Annual Report.