What the changes say
- Cadiz Inc faces heavy reliance on capital raises for the Mojave Groundwater Bank and water filtration technology business.
- Debt default risks and non-binding private equity negotiations threaten ongoing operations.
What changed since the prior 10-K
New
- New
To the extent that we do not make principal and interest payments on the indebtedness when due, or if we otherwise fail to comply with the terms of agreements governing our indebtedness, we may default on our obligations
Failure to pay debt or comply with loan terms could cause defaults, and insufficient revenues from the Mojave Groundwater Bank and water filtration business threaten company viability.
Reworded
- 62% rewritten
We may not be able to execute our plans for the construction, ownership, and operation of our Mojave Groundwater Bank and obtain the requisite funding
The company shifted from letters of intent with a non-profit, Lytton Rancheria, and a publicly traded company to conducting due diligence with private equity investors regarding MWI investments.
All 9 risk factors
Headings as the filing states them, in filing order.
Other
- 01Our Development Activities Have Not Generated Significant Revenues
- 02We May Never Become Profitable Unless We Are Able to Successfully Implement Programs to Develop Our Land Assets
- 03We cannot predict the terms, if any, which may be imposed on our permits to proceed with our water and other development programs
- 04We may not be able to execute our plans for the construction, ownership, and operation of our Mojave Groundwater Bank and obtain the requisite funding62% rewritten
- 05To the extent that we do not make principal and interest payments on the indebtedness when due, or if we otherwise fail to comply with the terms of agreements governing our indebtedness, we may default on our obligationsNew
- 06The Issuance of Equity Securities and Management Equity Incentive Plans Will Cause Dilution
- 07The Volatility of the Stock Price of our Equity Securities Could Adversely Affect Current and Future Stockholders
- 08general economic, political and market conditions
- 09Information Technology Failures and Data Security Breaches Could Harm Our Business
Other Cadiz 10-Ks
- FY2024 10-K risk factors8 risks
The company's primary risks center on pre-revenue water resource and land development activities in San Bernardino County, achieving profitability, securing regulatory permits, and funding the Mojave Groundwater Bank.
Filed Mar 28, 2025
About this page
The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.