Risk Factors Update Summary
- Shift from net income to net loss in financial reporting, affecting financial stability and performance.
- Identification of material weaknesses in internal controls could adversely affect financial reporting accuracy.
- Addition of generative artificial intelligence technology as a risk factor. This change reflects evolving technological risks.
- Restatement of financial statements led to unanticipated costs and may impact investor confidence.
- Net loss increased from $3 million in 2022 to $5 million in 2023, impacting profitability.
- Increase in owned shares by the chairman affects voting control and governance stability.
- Historical spending patterns on member acquisition drive seasonal variations in revenue.
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=1089872&owner=exclude
This content requires a 'Free' membership to view. Please create one here.
This content requires a 'Free' membership to view. Please create one here.