There have been no material changes to the Risk Factors described in Part I, Item1A-Risk Factors in our annual report on Form10-K for the year ended December 31, 2019 other than the following:
−Removed: APYX MEDICAL CORPORATION
THE COVID-19 Pandemic has had and continues to have a material and adverse affect on our business
−Removed: Our global operations expose us to risks associated with public health crises and outbreaks of epidemic, pandemic, or contagious diseases, such as the current outbreak of a novel strain of coronavirus (COVID-19).
+Added: Our global operations expose us to risks associated with public health crises and outbreaks of epidemic, pandemic, or contagious diseases, such as the current outbreak of COVID-19.
To date, COVID-19 has had, and may continue to have, a material and adverse impact on our operations.
Due to these impacts and measures, we have experienced and may continue to experience significant and unpredictable reductions in the demand for our products as actions taken by governmental bodies have restricted our customers' business activities.
−Removed: There is a significant amount of uncertainty as to when these restrictions will be lifted and when patients will choose to undergo the elective procedures provided by our customers.
−Removed: In addition, our customers may delay, cancel or redirect planned capital expenditures in order to focus resources on COVID-19 or in response to economic disruption related to COVID-19.
−Removed: As a result of the COVID-19 outbreak, many businesses have experienced temporary closures of facilities as a result of being considered non-essential businesses.
+Added: There continues to be a significant amount of uncertainty as to when these restrictions will be lifted and when patients will choose to undergo the elective procedures provided by our customers.
+Added: While many of our customers have begun to
+Added: APYX MEDICAL CORPORATION
+Added: experience positive trends in these restrictions being lifted and some patients have started elective procedures again, there is no guarantee that restrictions won't be reinstated or that patients will not choose to forgo elective procedures.
+Added: In addition, our customers may delay, cancel or redirect planned capital expenditures in order to focus resources on COVID-19 or in response to continued economic disruption related to COVID-19.
+Added: As a result of the COVID-19 outbreak, many businesses experienced temporary closures of facilities as a result of being considered non-essential businesses.
As performers of elective procedures, these temporary closures have impacted many of our customers and materially reduced demand for our products.
−Removed: As a medical device company, while we have currently been exempt from these guidelines and have largely continued operations, if we continue to experience materially reduced demand for our products, we may have to scale back our operations.
+Added: As a medical device company, while we have currently been exempt from these guidelines and have largely continued operations, if we continue to experience future materially reduced demand for our products, we may have to scale back our operations.
In addition, if the guidelines change, we or our suppliers could be impacted, and we could be adversely affected through supply chain interruptions, manufacturing restrictions or labor restrictions.
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