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The Company presently thinks that the greatest consequence of these types of lawsuits and proceedings will not, separately, or in the mixture, have a materials adverse effect on our consolidated economical place, effects of functions or hard cash flows. The supreme success of claims and litigation can not be predicted with certainty. Despite the discovered content weaknesses, management concluded that the consolidated fiscal statements incorporated in this Annual Report on Form 10-K present rather, in all content respects, the financial posture, success of functions and cash flows for the periods disclosed in conformity sex With Sister GAAP. The Company has evaluated subsequent functions through the submitting of this Form 10-K, and identified that there have been no functions that have occurred that would require changes to our disclosures in the consolidated financial statements. On January 16, 2018 and December 3, 2019, the Company and ICG amended the initial terms of the warrants so that the warrants instantly prolong for supplemental two-calendar year periods if the warrants are not exercised by their expiration day, as the expiration day may possibly be extended from time to time. This section’s plot summaries might be far too extended or excessively comprehensive.

We anticipate to conclude these remediation initiatives in the course of the fiscal 12 months finished September 30, 2022. We continue to assess tests of our inside control procedures and processes, which includes evaluating interior and external assets that may perhaps be out there to comprehensive these duties, but do not know when these tasks will be finished. Frazier & Deeter, the Company’s unbiased registered community accounting agency, has issued an unqualified opinion on our consolidated money statements as of and for the calendar year finished September 30, 2021. They ended up not engaged to accomplish, and did not conduct, an audit of inside command about economical reporting. Over time, controls may possibly become insufficient for the reason that of modifications in disorders or deterioration in the degree of compliance sex with Sister procedures or treatments. On April 25, 2018, ASH sent to the Seller the ApplianceSmart Note in the Original Principal Amount, as this sort of quantity may be modified for every the terms of the ApplianceSmart Note. On July 10, 2020, the Company executed a promissory notice (the “Spriggs Promissory Note”) in favor of Spriggs Investments LLC (“Spriggs Investments”), a minimal legal responsibility company whose sole member is Rodney Spriggs, the President and Chief Executive Officer of Vintage Stock, Inc., a wholly-owned subsidiary of the Company, that memorializes a loan by Spriggs Investments to the Company in the original principal total of $2. million (the “Spriggs Loan”).

The SEC Complaint alleges fiscal, disclosure and reporting violations towards the Company under Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5. The SEC Complaint also alleges different statements in opposition to the executive officer beneath Sections 13(a), 13(b)(2)(A), 13(b)(2)(B) and 13(b)(5) of the Exchange Act and Rules 12b-20, 13a-1, 13a-13, 13a-14, 13b2-1, and 13b2-2. The SEC seeks permanent injunctions and civil penalties towards the Company. We carried out an analysis, beneath the supervision, and sex with Sister the participation of our management, which includes our principal government officer and principal economical officer, of the efficiency of our disclosure controls and treatments (as described in Exchange Act Rules 13a-15(e) and 15d-15(e)). Based on that analysis, our principal government officer and principal financial officer concluded that, as of September 30, 2021, the period of time coated in this report, our disclosure controls and treatments were not helpful to make certain that data necessary to be disclosed in reviews filed underneath the Securities Exchange Act of 1934 is recorded, processed, summarized and reported inside the expected time periods and is amassed and communicated to our administration, such as our principal government officer and principal monetary officer, as suitable to allow for well timed decisions concerning essential disclosure because of to material weaknesses in internal command over money reporting more described below.

September 30, 2016, certain disclosures connected to govt compensation, and its past acquisition of ApplianceSmart. Set forth down below are the respective principal occupations or transient employment histories of just about every of our directors and government officers and the durations during which each has served as a director of the Company, as well as for our named govt officers. Tyler Sickmeyer. Mr. Sickmeyer has served as a member of the Audit Committee since August 2014. In August 2008, Mr. Sickmeyer launched and given that that time has continued serving as the CEO of Fidelitas Development, a whole-provider promoting organization that focuses on manufacturing an improved return on investment decision fee for its purchasers. Dennis (De) Gao. Mr. Gao has served as a director of our Company and as a member of the Audit Committee considering that January 2012. In July 2010, Mr. Gao co-founded and grew to become the CFO at Oxstones Capital Management, a privately held firm and a social and philanthropic organization, serving as an strategy trade for the global neighborhood.