Risk Factors Update Summary
- Active independent associates decreased from 185 to 159, impacting revenue and operations.
- Number of patents increased from 11 to 13, enhancing proprietary rights.
- Failure to anticipate consumer trends and adapt business initiatives could harm financial results.
- Liquidity risk due to inability to raise capital could adversely affect financial condition.
- Net sales decreased by 6% on a constant dollar basis, with a $5.3 million impact.
- Laws and regulations evolving regarding independent contractor status could harm financial position.
- Directors and executive officers collectively owned approximately 45% of total outstanding common stock.
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=1056358&owner=exclude
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