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Latest 10-Q filed 11/10/2025 · Compared against 8/7/2025
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Item 1A. Risk Factors
There has been nis no other material change from the risk factors previously disclosed in our Form 10-K for the year ended December 31, 2024, eand our Form 10-Q for the quarter ended June 30, 2025, except as follows:.
The following additional Risk Factor under Risks Relating to our Financial Performance and Position and Need for Financing is as follows:
We have sustained losses durBusiness Operations is as follows:
A prolonged federal government shutdown may materially impact our results of operations.
On October 1, 2025, the U.S. federal government entered into a partial shutdown as Congress failed to pass a new fiscal year funding the first six monthsbill. As a result of 2025.
Tthe Company sustained losses during the first six months of 2025. We believe that our government shutdown, we have been recently informed by certain government related clients that waste shipments are likely to be delayed until the government shutdown is results olved. Although the impact of operationsthe government should imutdown has been limited at this time, a prove starting in the second half of 2025. If, however, we fail to becomelonged shutdown may create uncertainty and disruption for us from additional delayed and/or cancelled waste shipments, suspension and/or slowdown of active projects, and/or delayed/cancelled profitable on an annualizcurement requests. Additionally, the recent government shutdown has resulted in furloughed basisand terminated employees which may result in the contract award delays, delayed payments foreseeable future, this services already rendered and restricted could have a material advermmunication with agency counterparts who may not be working. These effect on aforementioned impacts could negatively impact our oresult of operations, credit facility, li and liquidity, the extent of which is unknown at this time. However, we believe that negative impact to our results of operations and liquidity and potential growth.from a prolonged government shutdown may be lessened by our Treatment Segment backlog, along with increased receipts from international and commercial clients.
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