Risk factors

BV Financial added risks covering technology costs, stock volatility, and anti-takeover provisions following its second-step conversion.

Calidi Biotherapeutics faces severe going concern doubts with only $5.6 million in cash as of December 31, 2025. The company highlights new regulatory risks for its RedTail platform and dependence on ProBio in China for manufacturing the CAL1 oncolytic vaccinia virus strain.

Nasdaq listing replaced OTC QX trading, but low volume still creates stock-price volatility and limited liquidity.

Blank check company with no operating history and $173,195,000 available in trust.

Tax risk was updated to include the One Big Beautiful Bill Act signed into law on July 4, 2025. Expense and development cost disclosures were updated with specific historical deficit periods for Texas and Oklahoma working interests through 2025.

Cyngn faces continued heavy net losses, a financial restatement causing legal costs and litigation, and new global trade tariffs.

Tariff risk is broader: any new or increased tariffs could raise merchandise costs, without specific focus on Vietnam or fiscal 2025.

Foot Locker adds international expansion, integration, franchise, and synergy risks across 20 countries.

A new indebtedness risk highlights $24.5 million of total principal debt and potential pressure on financing, cash flow, and future productions.

Emmis Acquisition Corp. faces standard special purpose acquisition company risks centered on finding a suitable business combination within an 18-month window. The company highlights vulnerabilities regarding redemption rights, potential reliance on additional sponsor financing, and international trade policy impacts.

Empery Digital adopted a Bitcoin treasury strategy, holding 3,359 Bitcoin backed by $95.0 million in debt. Operating results now fluctuate heavily based on Bitcoin market prices and unrealized losses. Reliance on the manufacturer PXID for E-Bikes exposes the company to tariff and supply chain risks.

Entera Bio faces severe going concern doubts with cash runway only into mid-third quarter 2026. Net losses worsened to $11.4 million in 2025, with an accumulated deficit of $125.4 million. Clinical development relies heavily on the oral N-Tab platform and partnerships with OPKO.