Item 1A. Risk Factors
ITEM 1A. Risk Factors
In
addition to the other information set forth in this report, you should carefully consider the risk set forth below and the risk factors
as described in Part I, Item 1A, ”Risk Factors”, in our Annual Report on Form 10-K for the year ended December 31, 2021.
Disruption
in our global supply chain and rising prices of oil and raw materials as a result of the conflict between Russia and Ukraine may adversely
affect our businesses and results of operations.
The
conflict that began between Russia and Ukraine in late February 2022, and the recent recognition by Russia of the independence of the
self-proclaimed republics of Donetsk and Luhansk, in the Donbas region of Ukraine, may significantly amplify already existing disruptions
to our supply-chain and logistics. Specifically, the conflict may disrupt the transit of goods by train from China to Europe, result in
an increase in prices of certain raw materials sourced in Russia (such as nickel and aluminum) that we use in the manufacture of our products
as well as increase oil prices that will in turn cause overall shipping costs to rise. In addition, the governments of the United States,
the European Union, Japan and other jurisdictions have announced sanctions on certain industry sectors and parties in Russia and
the regions of Donetsk and Luhansk, as well as enhanced export controls on certain products and industries. These and any additional sanctions,
as well as any counter responses by the governments of Russia or other jurisdictions, could adversely affect the global financial markets
generally and levels of economic activity as well as increase financial markets volatility. Our compliance with these measures, and any
additional measures or sanctions, as well as the resulting rise in prices of oil and certain raw materials sourced in Russia may disrupt
our business and results of operations and/or adversely affect the pricing of our products.
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ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds.
None
ITEM 3. Defaults upon Senior Securities.
None
ITEM 4. Mine Safety Disclosures
Not
applicable.
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