Risk Factors Update Summary
- The merger with Redbox in August 2022 included assuming $359.9 million of debt.
- Addition of penny stock rules disclosure due to common stock trading below $5.00/share.
- Operating results post-acquisition did not meet expectations, leading to defaults and terminations.
- Series A Preferred Stock dividends suspended due to lack of surplus, reinstatement uncertain.
- Management is implementing cost and capital expenditure reductions due to underperformance.
- Delisting notice received from Nasdaq in March 2024, pending appeal, impacting liquidity.
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=1679063&owner=exclude
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