Risk Factors Update Summary
- Increased inflation led to a significant rise in costs, impacting financial results in 2022 and 2023.
- A decrease in the number of directors nominated by majority stockholders from two to one.
- A 1% decrease in the total value of purchased microchips and antennas from 97% to 96%.
- A reduction in the number of shares available for trading due to concentrated ownership.
- An affiliate criticized the company's strategic direction, capital allocation, and governance, potentially impacting operations.
- A decrease in net intangible assets from $18 million to $14 million in 2023.
- A decrease in the ownership of common stock by Parallel49 Equity from 58% to 57%.
- A $20 million share repurchase program was approved through December 31, 2024.
- A potential impact on the business due to ongoing foreign conflicts and military actions.
- Cyber threats are increasing in sophistication, prompting enhanced cybersecurity measures and risk management.
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=1641614&owner=exclude
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