Risk Factors Update Summary
- Accrued return reserves increased from 9% to 12% of gross revenues in 2023.
- Net proceeds of approximately $8.5 million were generated from the sale of 1,369,230 shares in 2023.
- Plans to issue additional shares of capital stock for future funding requirements are anticipated.
- Identified material weakness in internal controls and began furnishing reports as required.
- Amended provisions in the Certificate of Incorporation and Bylaws may delay or prevent changes.
- Expansion into international markets through e-commerce accelerators may expose operational risks.
- Ongoing geopolitical tensions and conflicts could adversely affect global economy and financial markets.
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=1787740&owner=exclude
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