CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This prospectus, any applicable prospectus supplement and the documents incorporated by reference herein and therein contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These statements include, but are not limited to, statements regarding our future financial performance, business condition and results of operations and pursuing additional government funding. Forward-looking statements give our current expectations or forecasts of future events. You can identify these statements by the fact that they do not relate strictly to historical or current facts. You can find many (but not all) of these statements by looking for words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “would,” “should,” “could,” “may” or other similar expressions in this prospectus, any applicable prospectus supplement and the documents incorporated by reference herein and therein. In particular, these include statements relating to future actions, prospective products, applications, customers, technologies, future performance or results of anticipated products, expenses, and financial results. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations or projections. Factors that could cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to:
•
our history of losses;
•
our ability to generate revenue;
•
our limited operating history;
•
the size and growth of markets for our technology;
•
regulatory developments that may affect our business;
•
our ability to successfully develop new technologies, particularly our bidirectional bipolar junction transistor, or B-TRAN™;
•
our expectations regarding the timing of prototype and commercial fabrication of B-TRAN™ devices;
•
our expectations regarding the performance of our B-TRAN™ and the consistency of that performance with initial prototypes as well as internal and third-party simulations;
•
the expected performance of future products incorporating our B-TRAN™;
•
the performance of third-party consultants and service providers whom we have and will continue to rely on to assist us in development of our B-TRAN™ and related drive circuitry;
•
the rate and degree of market acceptance for our B-TRAN™;
•
the time required for third parties to redesign, test and certify their products incorporating our B-TRAN™;
•
our ability to successfully commercialize our B-TRAN™ technology;
•
our ability to secure strategic partnerships with semiconductor fabricators and others related to our B-TRAN™ technology;
•
our ability to obtain, maintain, defend and enforce intellectual property rights protecting our technology;
•
the success of our efforts to manage cash spending, particularly prior to the commercialization of our B-TRAN™ technology;
•
general economic conditions and events, including inflation, and the impact they may have on us and our potential partners and licensees;
•
our ability to obtain adequate financing in the future, if and when we need it;
•
the impact of the novel coronavirus (COVID-19) on our business, financial condition and results of operations;