CAUTIONARY REMARKS REGARDING FORWARD LOOKING STATEMENTS
The information discussed in this Annual Report on Form 10-K includes“forward-looking statements.”* These forward-looking statements are identified by their use of terms and phrases such as*“may,”* “expect,” “estimate,” “project,” “plan,” “believe,” “intend,” “achievable,” “anticipate,” “continue,” “potential,” “should,” “could,” and similar terms and phrases. Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties and we can give no assurance that such expectations or assumptions will be achieved. Known and unknown risks, uncertainties and other factors may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to,*
| ● | our success in recruiting and retaining new Brand Partners (formerly consultants), |
| ● | our ability to locate and procure desired books, |
| ● | product and supplier concentrations, |
| ● | our relationship with our primary supplier and the related distribution requirements and contractual limitations, |
| ● | adverse publicity associated with our Company or the industry, |
| ● | our ability to ship timely, |
| ● | changes to our primary sales channels, including social media and party plan platforms, |
| ● | changing consumer preferences and demands, |
| ● | reliance on information technology infrastructure, |
| ● | restrictions imposed by covenants in the agreements governing our indebtedness, |
| ● | our ability to obtain adequate financing for working capital and capital expenditures, |
| ● | economic and competitive conditions, regulatory changes, and other uncertainties, |
| ● | outstanding impacts from the COVID-19 pandemic, as well as |
| ● | those factors discussed below and elsewhere in this Annual Report on Form 10-K, all of which are difficult to predict. |
In light of these risks, uncertainties and assumptions, the forward-looking events discussed may not occur. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements in this paragraph and elsewhere in this Annual Report on Form 10-K and speak only as of the date of this Annual Report on Form 10-K. Other than as required under the securities laws, we do not assume a duty to update these forward-looking statements, whether as a result of new information, subsequent events or circumstances, changes in expectations or otherwise. As used in this Annual Report on Form 10-K, the terms“the Company,”* “EDC,” “we,” “our” or*“us”* mean Educational Development Corporation, a Delaware corporation, unless the context indicates otherwise.*
