Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 137

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 1
Chunk 137
---
Securities Act”), or such earlier time that we no longer meet the definition of an emerging growth company. In this regard,
the JOBS Act provides that we would cease to be an “emerging growth company” if we have more than $1,235,000,000 in annual
revenues, have more than $700 million in market value of our common stock held by non-affiliates, or issue more than $1.0 billion in
principal amount of non-convertible debt over a three-year period. We would cease to be an emerging growth company on the last day of
the fiscal year following the date of the fifth anniversary of our first sale of common equity securities under an effective registration
statement or a fiscal year in which we have $1 billion in gross revenues.

We
intend to take advantage of all of these reduced reporting requirements and exemptions, including the longer phase-in periods for the
adoption of new or revised financial accounting standards under §107 of the JOBS Act. This election allows us to delay the adoption
of new or revised accounting standards that have different effective dates for public and private companies until those standards apply
to private companies. As a result of this election, our financial statements may not be comparable to companies that comply with public
company effective dates. Therefore, our election to use the phase-in periods may make it difficult to compare our financial statements
to those of non-emerging growth companies and other emerging growth companies that have opted out of the phase-in periods under §107
of the JOBS Act.

Our
independent registered public accounting firm will not be required to provide an attestation report on the effectiveness of our internal
control over financial reporting so long as we qualify as an “emerging growth company,” which may increase the risk that
weaknesses or deficiencies in our internal control over financial reporting go undetected. Likewise, so long as we qualify as an “emerging
growth company,” we may elect not to provide you with certain information, including certain financial information and certain
information regarding compensation of our executive officers, that we would otherwise have been required to provide in filings we make
with the SEC, which may make it more difficult for investors and securities analysts to evaluate our company. We cannot predict if investors
will find our common stock less attractive because we may rely on these exemptions.

ITEM
1B. UNRESOLVED STAFF COMMENTS

None.

18

ITEM
1C. CYBERSECURITY 

We
believe cybersecurity is