SeqLL, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>SeqLL, Inc. has filed its 2023 Form 10-K, detailing its financial performance and corporate status.</b>

AI Summary

SeqLL, Inc. (SQLLW) filed a Annual Report (10-K) with the SEC on April 10, 2024. SeqLL, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company is incorporated in Delaware and has its principal executive offices in Billerica, Massachusetts. SeqLL, Inc. is registered under the Securities Exchange Act of 1934. The company has common stock and warrants to purchase common stock registered under Section 12(g) of the Act. SeqLL, Inc. is classified as a smaller reporting company and an emerging growth company.

Why It Matters

For investors and stakeholders tracking SeqLL, Inc., this filing contains several important signals. This filing provides a comprehensive overview of SeqLL, Inc.'s operations and financial health for the fiscal year 2023, crucial for investors to assess the company's performance and future prospects. As a smaller reporting and emerging growth company, this 10-K filing is essential for understanding SeqLL, Inc.'s regulatory compliance and its position within the market.

Risk Assessment

Risk Level: low — SeqLL, Inc. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant new financial data or strategic shifts that would inherently increase risk.

Analyst Insight

Review the full 10-K filing for detailed financial statements, risk factors, and management discussion to understand SeqLL, Inc.'s performance and outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (The period covered by the annual report)
• 0001605888 — Central Index Key (Unique identifier for the filer)
• 46-5319744 — IRS Number (Employer Identification Number)
• 001-40760 — SEC File Number (Commission File Number for the company)

Key Players & Entities

• SeqLL, Inc. (company) — Filer name and subject of the report
• Delaware (jurisdiction) — State of incorporation
• Billerica, Massachusetts (location) — Address of Principal Executive Offices
• Securities Exchange Act of 1934 (regulation) — Act under which the company is registered
• Common Stock (security) — Registered security
• Warrants to purchase Common Stock (security) — Registered security

FAQ

Industry Context

SeqLL, Inc. operates within the services sector, specifically in help supply services.

Regulatory Implications

The company is subject to the reporting requirements of the Securities Exchange Act of 1934, including the filing of annual reports on Form 10-K.

What Investors Should Do

1. Analyze the financial statements within the 10-K for revenue, expenses, and profitability trends.
2. Review the 'Risk Factors' section for potential challenges and uncertainties facing SeqLL, Inc.
3. Examine management's discussion and analysis (MD&A) for insights into the company's strategy and outlook.

Key Dates

• 2024-04-10: Filing Date — Filing of the 2023 Form 10-K

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year ended December 31, 2023, as indicated by the filing date and the absence of prior year comparative data within the provided snippet.

Key Financial Figures

• $0.00001 — hares of the registrant's common stock, $0.00001 par value, outstanding as of March 31,

Filing Documents

• ea0202517-10k_seqll.htm (10-K) — 1114KB
• ea020251701ex22_seqll.htm (EX-22) — 2KB
• ea020251701ex23_seqll.htm (EX-23) — 2KB
• ea020251701ex31-1_seqll.htm (EX-31.1) — 11KB
• ea020251701ex31-2_seqll.htm (EX-31.2) — 11KB
• ea020251701ex32-1_seqll.htm (EX-32.1) — 4KB
• ea020251701ex32-2_seqll.htm (EX-32.2) — 4KB
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• 0001213900-24-031701.txt (&nbsp;) — 5759KB
• sql-20231231.xsd (EX-101.SCH) — 52KB
• sql-20231231_cal.xml (EX-101.CAL) — 41KB
• sql-20231231_def.xml (EX-101.DEF) — 246KB
• sql-20231231_lab.xml (EX-101.LAB) — 442KB
• sql-20231231_pre.xml (EX-101.PRE) — 245KB
• ea0202517-10k_seqll_htm.xml (XML) — 412KB

Business

Business 1 Item 1A

Risk Factors

Risk Factors 22 Item 1B Unresolved Staff Comments 42 Item 1C Cybersecurity 42 Item 2

Properties

Properties 42 Item 3

Legal Proceedings

Legal Proceedings 42 Item 4 Mine Safety Disclosures 42 PART II Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 43 Item 6 [Reserved] 43 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 43 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 50 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 50 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 50 Item 9A

Controls and Procedures

Controls and Procedures 50 Item 9B Other Information 51 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 51 PART III Item 10 Directors, Executive Officers and Corporate Governance 52 Item 11

Executive Compensation

Executive Compensation 58 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholders Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholders Matters 63 Item 13 Certain Relationships and Related Transactions, and Director Independence 65 Item 14 Principal Accounting Fees and Services 66 PART IV Item 15 Exhibits and Financial Statement Schedules 67 Item 16 Form 10–K Summary 67

SIGNATURES

SIGNATURES 68 EXHIBIT INDEX LIST XBRL DOCUMENTS As used in this Annual Report on Form 10-K, the terms "we", "us", "our" and the "Company" mean SeqLL Inc. and its wholly owned subsidiary SeqLL, LLC, taken as a whole (unless the context indicates a different meaning). i CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements that involve substantial risks and uncertainties. The forward-looking statements are contained principally in the sections titled "Business," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," but are also contained elsewhere in this report. In some cases, you can identify forward-looking statements by the words "may," "might," "will," "could," "would," "should," "expect," "intend," "plan," "objective," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue" and "ongoing," or the negative of these terms, or other comparable terminology intended to identify statements about the future, although not all forward-looking statements contain these words. These statements relate to future events or our future financial performance or condition and involve known and unknown risks, uncertainties and other factors that could cause our actual results, levels of activity, performance or achievement to differ materially from those expressed or implied by these forward-looking statements. These

forward-looking statements include, but are not limited to, statements about

forward-looking statements include, but are not limited to, statements about: our ability to consummate our proposed merger with Lyneer Investments LLC; the proposed terms of the proposed merger with Lyneer Investments LLC, including the number of shares of our common stock to be issued in such proposed merger and the financing we will have to consummate in connection therewith; the proposed business of Lyneer Investments LLC that will constitute the business of our company following such proposed merger; the success, cost and timing of our current product development activities, including statements regarding the timing of initiation and completion of our research and development programs; developments regarding next generation sequencing technologies; our expectations regarding the market size and growth potential for our business; the implementation of our strategic plans, including strategy for our business and related financing; our ability to maintain and establish future collaborations and strategic relationships; the rate and degree of market acceptance of our products; our ability to generate sustained revenue or achieve profitability; the potential for our identified research priorities to advance our technology; the pricing and expected gross margin for our products; our commercialization, marketing and manufacturing capability and strategy; our research and development plans including, among other things, statements relating to future uses, quality or performance of, or benefits of using, products or technologies; updates or improvements of our products; intentions regarding seeking regulatory approval for our products; our competitive position; our estimates of our expenses, ongoing losses, future revenue, capital requirements and our needs for, or ability to obtain, additional financing as necessary; and our ability to maintain our intellectual property position for our technology. You should read this report, inclu

RISK FACTORS

RISK FACTORS Our business is subject to varying degrees of risk and uncertainty. Investors should consider the risks and uncertainties summarized below, as well as the risks and uncertainties discussed in Part I, Item 1A, "Risk Factors" of this Annual Report on Form 10-K. Additional risks not presently known to us or that we currently deem immaterial may also affect us. If any of these risks occur, our business, financial condition, or results of operations could be materially and adversely affected. Our business is subject to the following principal risks and uncertainties: As we have incurred recurring losses and negative cash flows since our inception, there is no assurance that we will be able to continue as a going concern absent additional financing. We are an early, commercial-stage company with a limited operating history. If our tSMS sequencing instruments or sequencing services fail to achieve and sustain sufficient market acceptance, we will not generate expected revenue and our business may not succeed. Our research and development efforts may not result in the benefits we anticipate, and our failure to successfully market, sell and commercialize our current and future sequencing instruments and services products could have a material adverse effect on our business, financial condition and results of operations. If we are unable to successfully develop and timely manufacture our sequencing instruments and reagents, our business may be adversely affected. We must successfully manage new product introductions and transitions related to the tSMS technology, we may incur significant costs during these transitions, and they may not result in the benefits we anticipate. We rely on other companies for certain components and materials and intend to outsource sub-assembly manufacturing in the future. We may not be able to successfully assemble or manufacture reagents and instruments or scale the manufacturing process necessary to build and test mu

BUSINESS

BUSINESS Overview We are an early commercial-stage life sciences instrumentation and research services company engaged in the development of scientific assets and novel intellectual property across multiple "omics" fields. We leverage our expertise with True Single Molecule Sequencing (tSMS) technology enabling researchers and clinicians to contribute major advancements to scientific research and development by accelerating one's understanding of the molecular mechanisms of disease and fundamental biological processes. We believe our proprietary sequencing technology platform has critical advantages over existing NGS (Next Generation Sequencing) technologies, particularly for emerging applications in the research and development of biomarker discovery, epigenetics, nucleotide chemistry, forensics, and cell-free nucleic acid analysis. Our mission is to empower researchers with improved genetic tools that enable scientists and physicians to better understand the molecular mechanisms of disease and the underlying biological systems. This knowledge is essential to the continued development of new breakthroughs in genomic medicine that address the critical concerns involved with today's precision medicine. Our single molecule technology enables researchers to identify and synthesize DNA or RNA strands, irrespective of abundance, in a biological sample and is capable of analyzing billions of molecules in parallel, which positions us as both competitive and complementary with other NGS platforms. We believe our technology advantage is a simplified method of quantifying DNA and RNA molecules at single molecule resolution because our platform does not require the routine PCR amplification and library preparation and ligation steps required by most NGS systems, thereby avoiding systematic bias and consequential additional costs. Our current sequencing platform offers advantages, such as the ability of certain samples to reveal previously unknown molecular profiles by dir

View Full Filing

View this 10-K filing on SEC EDGAR