Company – Scrape Financial
Risk Factors Summary

Risk Factors Update Summary

  • Need for additional funding for future acquisitions and operations, with potential write-downs of $2-3 million in Q1 2024.
  • Suspension of quarterly cash dividend to allocate resources towards share repurchase program.
  • Material weakness in accounting controls identified, including ineffective design of accounting system.
  • Repurchased 336,000 shares for $426,000 in 2023, and 318,200 shares for $344,000 in 2024.
  • Board of Directors may reinstate future dividend payments at their discretion, impacting shareholder returns.
  • Board authorized a share repurchase program for up to $5.0 million of outstanding shares.
  • Identified material weaknesses in accounting controls, affecting financial reporting accuracy.

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=101594&owner=exclude

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