This Quarterly Report on Form 10-Q (this “Report”) contains forward-looking statements. In some cases, you can identify forward-looking statements by the following words: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this Report. These factors include:
| • | our lack of a significant operating history; |
| • | the ability of the Company to raise funding to support its operational plans, the terms of such financing and potential dilution caused thereby; |
| • | the ability of the Company to complete the steps necessary to undertake its current operational plan, the costs associated therewith, timing relating thereto, and the ability of the Company to generate revenues associated therewith; |
| • | the concentration of ownership of the Company’s securities; |
| • | the market for the Company’s planned services, including the market for pickleball and padel; |
| • | competition in the Company’s industry; |
| • | current negative operating cash flows and a need for additional funding to finance our operating plans; |
| • | the terms of any further financing, which may be highly dilutive and may include onerous terms; |
| • | increases in interest rates which may make borrowing more expensive and increased inflation which may negatively affect costs, expenses and returns; |
| • | geopolitical events and regulatory changes; and the effect of changing interest rates and inflation, economic downturns and recessions, tariffs and trade wars, declines in economic activity or global conflicts; |
| • | the loss of key personnel or failure to attract, integrate and retain additional personnel; |
| • | corporate governance risks; |
| • | the level of competition in our industry and our ability to compete; |
| • | our ability to respond to changes in our industry; |
| • | our ability to protect our intellectual property and not infringe on others’ intellectual property; |
| • | our ability to scale our business; |
| • | changes in laws and regulations; |
| • | the market for our common stock; |
| • | our ability to effectively manage our growth; |
| • | dilution to existing stockholders; |
| • | costs and expenses associated with being a public company; |
| • | risks of economic slowdowns and recessions; |
| • | changes in inflation and interest rates, supply constraints, and possible recessions caused thereby; |
| • | economic downturns both in the United States and globally; |
| • | risk of increased regulation of our operations; and |
| • | other risk factors included under “Risk Factors” below. |
You should read the matters described in “Risk Factors” and the other cautionary statements made in this Report, as being applicable to all related forward-looking statements wherever they appear in this Report. We cannot assure you that the forward-looking statements in this Report will prove to be accurate and therefore prospective investors are encouraged not to place undue reliance on forward-looking statements. Other than as required by law, we undertake no obligation to update or revise these forward-looking statements, even though our situation may change in the future.
Part I – Financial Information
