Company – Scrape Financial
Risk Factors Summary

Risk Factors Update Summary

  • Revenues increased from $7,987,902 in 2022 to $8,151,587 in 2023, indicating growth.
  • Potential HIPAA liability added due to privacy of health information obtained, impacting operations.
  • Failure to keep pace with technological changes may lead to obsolescence and impact competitiveness.
  • Identified material weaknesses in internal controls could adversely affect stock price and financial reporting.
  • Registered resale of a significant number of shares may negatively impact public trading price.
  • Security breach risks highlighted, including potential loss of customer data and legal liabilities.
  • Legal proceedings uncertainty and unexpected losses could affect financial results and operations.
  • Selling stockholders could own over 50% of outstanding common stock post-warrants exercise.
  • Dependence on third-party Internet infrastructure for service delivery poses a risk of outages.
  • Potential imposition of a new U.S. federal 1% excise tax on sales due to certain repurchases.
  • Private investors may have an incentive to sell shares due to lower prices.

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=1906133&owner=exclude

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