BOXL — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-15

• •our ability to comply with certain covenants, minimum liquidity, and borrowing base requirements under our existing credit agreement, or in the alternative, to continue to obtain forbearances or waivers from the lender thereunder with respect to defaults thereunder, including existing defaults;

• •our ability to maintain compliance with the Nasdaq Capital Market continued listing requirements and maintain a listing of our Class A common stock on the Nasdaq Capital Market;

• •unfavorable global economic or political conditions, including the ongoing conflict between Russia and Ukraine, and Israel and Hamas;

• •and those other risks referenced herein, including those risks referred to in Part II, Item 1A–“Risk Factors” in this Quarterly Report and those risks discussed in our other filings with the Securities and Exchange Commission (“SEC”), including those risks discussed under the caption “Risk Factors”…

• Revenues. Total revenues for the three months ended March 31, 2026 were $22.4 million as compared to $22.4 million for the three months ended March 31, 2025, resulting in a 0.1% increase. The increase in revenues was driven by higher sales of interactive flat panel displays.

Text removed vs the prior filing · source: 10-Q · 2025-11-14

• •our substantial indebtedness which matures December 31, 2025;

• •our ability to comply with certain covenants, minimum liquidity and borrowing base requirements under our existing credit agreement, or in the alternative, to continue to obtain forbearances or waivers from the lender thereunder with respect to defaults thereunder, including existing defaults;

• •our ability to maintain compliance with the Nasdaq Capital Market continued listing requirements and maintain a listing of our Class A common stock on Nasdaq Capital Market;

• •unfavorable global economic or political conditions, including fluctuations in interest rates, inflation, declining consumer sentiment and market uncertainty, and the ongoing conflicts between Russia and Ukraine, and Israel and Hamas;

• •governance and management risks related to turnover in our executive ranks and board of directors;

Text added vs the prior filing · source: 10-Q · 2026-05-15

• We may not be able to maintain a listing of our Class A common stock on Nasdaq Capital Market, or Nasdaq

• On April 20, 2026, we received an expected letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”), notifying us that our stockholders’ equity as reported in its Annual Report on Form 10-K for the period ending December 31, 2025 (the “Form 10-K”), did not meet the…

• This notice of noncompliance has had no immediate impact on the continued listing or trading of our common stock on The Nasdaq Capital Market, which will continue to be listed and traded on Nasdaq, subject to our compliance with the other continued listing requirements. Nasdaq has given us until Jun…

• We are currently evaluating various courses of action to regain compliance, and plans to timely submit its plan to Nasdaq to regain compliance with the minimum stockholders’ equity requirement. We are confident that we can regain compliance with Nasdaq’s minimum stockholders’ equity standard within …

• A delisting of our Class A common stock from Nasdaq may materially impair our stockholders’ ability to buy and sell our Class A common stock and could have an adverse effect on the market price of, and the efficiency of the trading market for, our Class A common stock. In the event our stock is deli…

Text removed vs the prior filing · source: 10-Q · 2025-11-14

• We have a substantial amount of indebtedness maturing December 31, 2025. We do not anticipate being able to repay such indebtedness by such date.

• We have a significant amount of indebtedness. As September 30, 2025, we owed $36.7 million to the lender under our credit agreement, all of which is secured. The loans mature on December 31, 2025. As of September 30, 2025, our cash and cash equivalents were approximately $11.8 million. We do not exp…

• Our substantial amount of indebtedness could have other important consequences. For example, it could:

• •increase our vulnerability to adverse economic, industry or competitive developments;

• •require a substantial portion of cash flow from operations to be dedicated to the payment of principal and interest on our indebtedness, therefore reducing our ability to use cash flow to fund our operations, capital expenditures and future business opportunities;