Item 8.01 Other Events
Notwithstanding the foregoing, the Company does not expect these findings to
result in any changes to the financial results in the Company's previously
reported financial statements or to impact the financial results in the
Company's unaudited financial statements for the period as of and ended
The Company, the Audit Committee and the Board are committed to maintaining a strong internal control environment and are currently evaluating remediation efforts that will be designed and implemented to enhance the Company's control environment. The identified material weaknesses in disclosure controls and procedures and internal control over financial reporting will only be considered remediated when the relevant controls have operated effectively for a sufficient period of time for management to conclude that they have been remediated.
Within the next several days, the Company expects to file its amended Annual
Report on Form 10-K/A for the year ended
In addition, the Company expects to file its Quarterly Report on Form 10-Q for
the period ended
Forward Looking Statements
Any statements contained in this Current Report on Form 8-K that are not
historical facts are forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995. Forward-looking statements generally
are accompanied by words such as "may," "will," "anticipate," "intend," "expect"
and similar expressions that predict or indicate future events or trends or that
are not statements of historical matters. Forward-looking statements are based
on the Company's current expectations and are subject to inherent uncertainties,
risks and assumptions that are difficult to predict. Further, certain
forward-looking statements are based on assumptions as to future events that may
not prove to be accurate. You should not place undue reliance on forward-looking
statements because they involve known and unknown risks, uncertainties and other
factors, which are, in some cases, beyond the Company's control and which could
materially affect results. Factors that may cause actual results to differ
materially from current expectations include, among other things, the impact of
the Audit Committee's investigation; the impact of management's conclusion, in
consultation with the Audit Committee, that material weaknesses existed in the
Company's disclosure controls and procedures and internal control over financial
reporting; the evaluation and implementation of remediation efforts designed and
implemented to enhance the Company's control environment; the potential
identification of one or more additional material weaknesses in the Company's
internal control over financial reporting of which the Company is not currently
aware or that have not yet been detected; and those described more fully in the
Company's periodic filings with the
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