Company – Scrape Financial
Risk Factors Summary

Risk Factors Update Summary

  • Investment in Freedom VCM and Brian Kahn's relationship may adversely affect business, reputation, and stock price.
  • Identified material weaknesses in internal control over financial reporting, now plural, exposing to additional risks.
  • Completed FRG take-private transaction, leading to adverse impacts on business, operations, and reputation.
  • Net operating loss carryforwards decreased from $406 million in 2022 to $20 million in 2023.
  • Identified material weaknesses in internal controls and procedures, impacting financial statements and investor confidence.
  • Increased senior notes from approximately $199.2 million to $356.8 million as of December 31, 2023.
  • Brand investment portfolio revenues are dependent on consumer finance receivables, impacting financial condition.

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=1464790&owner=exclude

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