Risk Factors Update Summary
- Added mention of ongoing conflicts and potential sanctions, including broadened sanctions on Russia.
- Increased focus on potential adverse effects on global trade, economies, and company operations.
- Enhanced disclosure on the impact of conflicts on costs, supply chain, sales, earnings, and capital raising.
- Detailed steps taken to address material weaknesses in financial reporting, including hiring personnel.
- Emphasized the importance of compliance with Section 404 of SOX and potential consequences.
- Highlighted the need for continuous evaluation and engagement of external consultants for control activities.
- Mentioned the implementation of improved accounting practices and segregation of duties for financial reporting.
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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