Item 1.03 Bankruptcy or Receivership
Chapter 11 Filing
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Cautionary Information Regarding Trading in the Company's Securities.
The Company's securityholders are cautioned that trading in the Company's
securities during the pendency of the Chapter 11 Case is highly speculative and
poses substantial risks. Trading prices for the Company's securities may bear
little or no relationship to the actual recovery, if any, by holders thereof in
the Company's Chapter 11 Case, and the effectiveness of the Plan is subject to
numerous conditions, including approval by the
Cautionary Note Regarding Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements, which are based on the Company's current expectations, estimates, and projections about the businesses and prospects of the Company and its subsidiaries, as well as management's beliefs, and certain assumptions made by management. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "may," "should," "will" and variations of these words are intended to identify forward-looking statements. Such statements speak only as of the date hereof and are subject to change. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict.
Forward-looking statements discuss, among other matters: the Company's strategy? risks and uncertainties associated with Chapter 11 proceedings? the negative impacts on the Company's businesses as a result of filing for and operating under Chapter 11 protection? the time, terms and ability to confirm a Chapter 11 plan of reorganization for the Company's businesses? the adequacy of the capital resources of the Company's businesses and the difficulty in forecasting the liquidity requirements of the operations of its businesses? the unpredictability of the Company's financial results while in Chapter 11 proceedings? the
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Company's ability to discharge claims in Chapter 11 proceedings? negotiations
with its trade creditors and other significant creditors? risks and
uncertainties with performing under the terms of the Restructuring Support
Agreement and any other arrangement with creditors while in Chapter 11
proceedings? the Company's ability to conduct business as usual in
Important factors that may cause such differences include, but are not limited
to, the decisions of the Court? negotiations with the Company's creditors and
any committee approved by the Court? the Company's ability to meet the
requirements, and compliance with the terms, including restrictive covenants, of
the Restructuring Support Agreement and any other financial arrangement while in
Chapter 11 proceedings? changes in the Company's cash needs as compared to its
historical operations or its planned reductions in operating expense? adverse
litigation? changes in domestic and international demand for the Company's
products? the Company's ability to control operating costs and other expenses?
that general economic conditions may be worse than expected? that competition
may increase significantly? changes in laws or government regulations or
policies affecting the Company's current business operations and, as well as
those risks and uncertainties disclosed under the sections entitled "Risk
Factors" and "Management's Discussion and Analysis of Financial Condition and
Results of Operations" in the Company's Forms 10-Q filed with the
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits. Exhibit Description Number 99.1 Press Release, datedMarch 30, 2020 ET ______________
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