Risk Factors Update Summary
- Addition of the need for additional financing to complete acquisitions, with a working capital decrease from $573 million to $373 million.
- Cash payment reduced from $50 million to $30 million for the Meridian Purchase Agreement.
- Anticipation of needing funding for the Purchase of the Meridian Companies, with a working capital decrease from $796 million to $253 million.
- Number of restricted shares increased from 56,999,141 to 82,857,000 for the Meridian Purchase Agreement.
- Increase in revenue from transactions in currencies other than USD and CAD from 62% to 68%.
- Cash amount reduced from $10 million to $5 million for the Post-Closing Shares.
- Additional funding needed decreased from $50 million to $30 million for the Meridian acquisition.
- Financing may involve issuance of warrants leading to shareholder dilution if funding is unavailable.
- Failure to comply with covenants may lead to termination of the Meridian Purchase Agreement.
- Termination conditions updated, including dates and circumstances, for the Meridian Purchase Agreement.
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=1437925&owner=exclude
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