Duos Technologies Group, Inc.

Climate Impact & Sustainability Data (2017, 2024-09-30)

The auditor expressed substantial doubt regarding the company's ability to continue as a going concern due to net losses and cash used in operations.
Complexity of technology platforms leading to potential errors, data loss, and performance issues.
Inability to keep pace with rapidly changing technology and industry standards.
Market opportunity for products and services may not develop as anticipated.
Revenue dependence on general economic conditions and enterprise investment in technology.
Vulnerability to security breaches.
Competition from larger companies with greater resources.
History of losses and expectation of future losses and negative operating cash flows.
Inability to fully protect intellectual property.
Dependence on key personnel.
Concentration of credit risk due to dependence on a limited number of customers.
Potential strategic alliances may not achieve their objectives.
Delinquent payment of payroll taxes.

Focus on substantial revenue growth through investments in sales, marketing, and project execution staff.
Investing in additional resources for development and sales to increase revenue and margins.
Continued dedication of significant resources to research and development efforts.
Exploring operating expense models for procuring technology.
Implementing security measures to protect systems and client infrastructure.
Diversification strategy to mitigate vulnerabilities.
Organic growth of applications and technology solutions, geographic expansion, and strategic acquisitions.
Appealing for a reduction in penalty payments in connection with the delinquent payment of payroll taxes.
Paid payroll taxes in full.

Delay in completing financial statements and other disclosures in the Quarterly Report. The Registrant is still in the process of compiling required information to complete the Quarterly Report and its independent registered public accounting firm requires additional time to complete its review of the financial statements for the period ended September 30, 2024.

The Registrant anticipates that it will file the Quarterly Report no later than the fifth calendar day following the prescribed filing date.