Risk Factors Update Summary
- Inflationary factors may significantly increase operating expenses and capital expenditures, impacting financial results.
- Loss of significant customers: backlog attributable to future operations with ten customers, including one contracted for three rigs.
- Market interest rates increased significantly in 2022 and 2023, impacting the cost of debt service.
- Emergence warrants allow for the issuance of 7% of equity interests, potentially affecting market price.
- Oversupply of drilling rigs in offshore drilling industry, impacting rig evaluations and operations.
- Increased focus on environmental efforts, with U.S. accounting for a significant portion of revenues.
- Approval of regulatory matters by the European Parliament may impact exchange rates and tariffs.
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=949039&owner=exclude
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