Risk Factors Update Summary
- Fraudulent bankcard, ACH, and warranty claims could increase liability, impacting financial condition.
- Completed four acquisitions since 2014, expanding product offerings. Acquired assets of IMS for $7.2 million.
- Changes in legal and regulatory rules could adversely affect the crypto economy and customers.
- Operating activities used $17.0 million in 2023, provided $14.9 million after adjustments.
- Failure to adapt to rapid technological change, including AI, may lead to business failure.
- Adjusted operating cash flow was $27.8 million in 2023, up from $20.7 million in 2022.
- Increase in fraudulent accounts in 2023 due to massively expanding growth in prepaid card business.
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=1088034&owner=exclude
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