Item 7.01 Regulation FD Disclosure
Recent Developments
On
The information included in this Item 7.01 shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall it be incorporated by reference into a filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 8.01 Other Information Supplemental Risk Factor
In light of recent developments relating to COVID-19, the Company is
supplementing the risk factors previously disclosed in its Annual Report on Form
10-K filed with the
The scale and scope of the recent COVID-19 outbreak, the resulting pandemic, and the impact on the financial markets is unknown and could adversely affect the Company's business, financial condition and results of operation at least for the near term.
The scale and scope of the recent COVID-19 outbreak, the resulting pandemic, and
the impact on the financial markets is unknown and could adversely affect the
Company's business, financial condition and results of operation at least for
the near term. As the
We may experience impacts from changes in customer behavior related to pandemic
fears, quarantines and market downturns, as well as impacts on our workforce.
The Company's business will be dependent upon the willingness and ability of its
customers to conduct transactions. The spread of COVID-19 could cause severe
disruptions in the worldwide economy, which could in turn disrupt the business,
activities, and operations of the Company's business and operations, as well as
that of its customers. Moreover, since the beginning of
If COVID-19 were to affect a significant amount of the Company's workforce, we may experience delays or the inability to produce and deliver solutions to our customers on a timely basis. In addition, one or more of our customers, service providers or suppliers may experience financial distress, file for bankruptcy protection, go out of business, or suffer disruptions in their business due to the COVID-19 outbreak. Travel restrictions due to COVID-19 may also prevent the Company's employees from completing customer work. The global scale and scope of COVID-19 is unknown and the duration of the business disruption and related financial impact cannot be reasonably estimated at this time.
The extent to which COVID-19 impacts the Company's results will ultimately depend on future developments, which are highly uncertain, and will include emerging information concerning the severity of COVID-19 and the actions taken by governments and private businesses to attempt to contain COVID-19. However, the Company believes COVID-19 could adversely affect our business, financial condition and results of operations at least for the near term.
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