Company – Scrape Financial
Risk Factors Summary

Risk Factors Update Summary

  • Added mention of ongoing conflicts and potential sanctions, impacting global trade and economies.
  • Disclosed potential consequences of geopolitical shifts, including regional instability and adverse effects on global economy.
  • Detailed material weaknesses in financial reporting, including the need for enhanced controls and external consultants.
  • Highlighted the need to manage costs, supply chain disruptions, and reduced sales due to conflicts.
  • Emphasized the potential loss of investor confidence and SEC investigation if internal controls are ineffective.
  • Noted the importance of raising additional capital on acceptable terms to mitigate impacts.
  • Mentioned the requirement for quarterly disclosure of internal control procedures and independent auditor attestation.

Full Text Changes in Most Recent 10-K

Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.

To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1777921&owner=exclude

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