Company – Scrape Financial
Risk Factors Summary

Risk Factors Update Summary

  • Net loss decreased from $10.3 million to $4 million in 2023, with financing activities detailed.
  • Nasdaq compliance issues detailed, including delisting risks and reverse stock split to maintain compliance.
  • Conversion of $1.5 million of debt into common stock and sale of $2.72 million common stock.
  • Risk of intellectual property infringement claims highlighted, potentially impacting business operations significantly.
  • Cash decreased from $52,000 to $0.1 million in 2023, requiring additional external financing in 2024.
  • Sales concentration increased with two customers accounting for 48% of net sales in 2023.
  • Accumulated deficit increased from $149.0 million to $153.3 million in 2023.

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=924168&owner=exclude

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