Included research & development activities to build the prototype and general support activities focused on business development and Our operating expense are also reflected in anĪccrued liability to Wavemaker Labs for services rendered under the Company’s Master Services Agreement with Wavemaker Labs, which The increase resulted from expenses associated with engineering, research and development, businessĭevelopment, marketing, and fundraising in service of producing its first fully working Piestro pod and preparing to manufacture multiple The six months ended June 30, 2021, operating expenses were $2,460,802 compared to $705,197 for the 6 months ended June 30, 2020, Through June 30, 2021, the Company has not recorded MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION Of management all adjustments necessary to make the interim financial statements not misleading have been included. The financial statements included in this filing are unaudited,Īnd may not include year-end adjustments necessary to make those financial statements comparable to audited results, although in the opinion Statements that involve risks and uncertainties. This discussion and analysis, including information with respect to our plans and strategy for our business, includes forward-looking You should read the following discussion and analysis of our financialĬondition and results of operations together with our financial statements and the related notes. UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THESE STATEMENTS REFLECT MANAGEMENT’SĬURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’SĪCTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS. MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. THESE FORWARD-LOOKING STATEMENTS ARE BASED RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THIS SEMI-ANNUAL REPORT MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION In this Semi-Annual Report, the terms “we”, “Piestro”, SEMI-ANNUAL REPORT DATED SEPTEMBER 27, 2021
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