−Removed: Our Annual Report on Form 10-K for the year ended December 31, 2021 includes a detailed discussion of our risk factors under the heading “Part I, Item 1A—Risk Factors.” Except as set forth below, there have been no material changes from such risk factors during the quarter ended March 31, 2022.
+Added: Our Annual Report on Form 10-K for the year ended December 31, 2021 includes a detailed discussion of our risk factors under the heading “Part I, Item 1A—Risk Factors.” Except as set forth below, there have been no material changes from such risk factors during the quarter ended June 30, 2022.
You should consider carefully the risk factors set forth in this Form 10-Q and discussed in our Annual Report on Form 10-K for the year ended December 31, 2021 and all other information contained in or incorporated by reference in this Form 10-Q before making an investment decision.
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Any of the foregoing risks or actions could disrupt the Company’s operations and have a material adverse effect on the Company’s results from operations and financial condition.
−Removed: The Company has experienced significant changes in our management team in April 2022.
−Removed: In particular, Lindsey Jensen was appointed as the Chief Financial officer, following the departure of the Company’s former chief financial officer, Wes Booysen.
−Removed: Additionally, Ms.
−Removed: Jensen was subsequently appointed as our Chief Accounting Officer following the resignation of Andrés de Gortari.
−Removed: Executive and other management transitions can be inherently difficult to manage, may cause significant and costly disruption to our business, might lead to additional
−Removed: departures of existing personnel, and could have a material adverse effect on our business, operating results, financial condition and internal controls over financial reporting.
+Added: The Company has experienced significant changes in our management team in 2022.
+Added: In particular, Lindsey Jensen was appointed as the Chief Financial Officer and Chief Accounting Officer, following the departure of the Company’s former Chief Financial Officer, Wessel Booysen, and former Chief Accounting Officer, Andres De Gortari.
+Added: Additionally, Gregory Gould was subsequently appointed as our Chief Financial Officer and Chief Accounting Officer following the resignation of Ms.
+Added: Executive and other management transitions can be
+Added: inherently difficult to manage, may cause significant and costly disruption to our business, might lead to additional departures of existing personnel, and could have a material adverse effect on our business, operating results, financial condition and internal controls over financial reporting.
+Added: Recent macroeconomic trends, including inflation, a recession or slowed economic growth, may adversely affect our business, financial condition and results of operations.
+Added: During the six months ended June 30, 2022, inflation in the United States has accelerated and is currently expected to continue at an elevated level for the near-term.
+Added: Rising inflation could have an adverse impact on expenses, as these costs could increase at a higher rate than revenues.
+Added: Our costs are subject to fluctuations, particularly due to changes in the prices of raw product and packaging materials and the costs of labor, transportation and energy.
+Added: Inflation pressures could also result in increases in these input costs.
+Added: Therefore, our business results depend, in part, on our continued ability to manage these fluctuations through pricing actions, cost saving projects and sourcing decisions, while maintaining and improving margins and market share.
+Added: Failure to manage these fluctuations could adversely impact our results of operations or cash flows.
+Added: In addition, unfavorable macroeconomic conditions, such as a recession or continued slowed economic growth, could negatively affect consumer demand for cannabis products, which consequently, may negatively affect the results of operations.
+Added: Under difficult economic conditions, consumers may seek to reduce discretionary spending by forgoing purchases of cannabis products, negatively impacting our net sales and margins.
+Added: Softer consumer demand for cannabis products could reduce our profitability and could negatively affect our overall financial performance.
Unregistered Sales of Equity Securities and Use of Proceeds
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.