Risk Factors Update Summary
- Sponsor holds approximately 77% of outstanding shares post-redemptions, impacting voting power significantly.
- Doubt raised about ability to continue as a going concern due to $224,394 cash on hand.
- Potential impact of SEC's proposed rules on SPACs could materially affect negotiation and completion of business combinations.
- Material weakness in internal controls over financial reporting identified, affecting accurate financial reporting.
- Nasdaq non-compliance with Minimum Public Holders Rule may lead to delisting, impacting stock value.
- Inflation and interest rate increases may lead to higher volatility and borrowing costs, affecting securities.
- Failure to comply with laws and regulations may adversely affect business operations and results.
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=1854480&owner=exclude
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