Item 1A. Risk Factors
ITEM
1A. RISK FACTORS
The
Company has experienced challenges within the global supply chain which has impacted the business in three key areas: (i) movement and/or
delay in production schedules due to component shortages, (ii) continued delays to global shipping and receipt of goods and (iii) increased
shipping costs which has reduced gross profit margin. In addition, there is presently a global silicon chip supply shortage that could
potentially cause disruptions in our supply chain. While the Company’s business has not yet been affected by such disruption, in
the event any of our suppliers experience such supply chain disruption, there is potential that such disruption could ultimately affect
our ability to timely obtain and deliver finished goods and products.
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For
additional risk factors pertinent our business please refer to the Part I Item 1A of the Company’s 2020 Annual Report on Form 10-K,
which is incorporated by reference herein.
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