We are an "emerging growth company," and the reduced disclosure requirements applicable to "emerging growth companies" could make our common stock less attractive to investors.
Significant time and management resources are required to ensure compliance with public company reporting and other obligations. Taking steps to comply with these requirements will increase our costs and require additional management resources, and does not ensure that we will be able to satisfy them.
As we review our internal controls and procedures, we may determine that they are ineffective or have material weaknesses, which could impact the market's acceptance of our filings and financial statements.
Alpine 4 is a growth-based company and has shown a net loss since inception. Ownership of Alpine 4 shares is highly risky and could result in a complete loss of the value of your investment if we are unsuccessful in its business plans.
Growth and development of operations will depend on the growth in the Alpine 4 acquisition model and from organic growth from its subsidiaries’ businesses. If we cannot find desirable acquisition candidates, it may not be able to generate growth with future revenues.
We may make acquisitions which could divert the attention of management and which may not be integrated successfully into our existing business.
As we acquire companies or technologies in the future, they could prove difficult to integrate, disrupt our business, dilute stockholder value and adversely affect our operating results and the value of your investment.
Alpine 4 has limited management resources and will be dependent on key executives. The loss of the services of the current officers and directors could severely impact Alpine 4’s business operations and future development, which could result in a loss of revenues and adversely impact the business.
Competition that we face is varied and strong.
Our success in business and operations will depend on general economic conditions.
Alpine 4 may not be able to successfully implement its business strategy, which could adversely affect its business, financial condition, results of operations and cash flows. If Alpine 4 cannot successfully implement its business strategy, it could result in the loss of the value of your investment.
Our revenue growth rate depends primarily on our ability to satisfy relevant channels and end-customer demands, identify suppliers of our necessary ingredients and to coordinate those suppliers, all subject to many unpredictable factors.
Our existing debt levels may adversely affect our financial condition or operational flexibility and prevent us from fulfilling our obligations under our outstanding indebtedness.
We may, in the future, issue additional securities, which would reduce our stockholders' percent of ownership and may dilute our share value.
Raising additional capital or purchasing businesses through the issuance of common stock will cause dilution to our existing stockholders.
Raising additional capital may restrict our operations or require us to relinquish rights.
Market volatility may affect our stock price and the value of your shares.
If securities or industry analysts do not publish or cease publishing research or reports or publish misleading, inaccurate or unfavorable research about us, our business or our market, our stock price and trading volume could decline.
Future sales of our Class A common stock may cause our stock price to decline.
Alpine 4 may issue Preferred Stock with voting and conversion rights that could adversely affect the voting power of the holders of Class A Common Stock.
The market price for our common stock may be volatile, and an investment in our common stock could decline in value.
We do not anticipate paying dividends on our common stock and, accordingly, stockholders must rely on stock appreciation for any return on their investment.
We expect that our quarterly results of operations will fluctuate, and this fluctuation could cause our stock price to decline.
Revenues were $25.6 million for the three months ended September 30, 2023, a decrease of $1.9 million compared to revenue of $27.5 million for the three months ended September 30, 2022. The decrease is due to a $3.5 million, and $0.8 million decrease for RCA and MSM, respectively, as they focus on increasing margins and $1.0 million decrease for TDI as contract work has been delayed into future quarters, offset by a $3.7 million increase for Alt Labs due to organic growth from new customers.
Cost of revenue was $22.2 million for the three months ended September 30, 2023, an increase of $0.3 million compared to cost of revenue of $21.9 million for the three months ended September 30, 2022. The increase is primarily driven by increases in cost at QCA-W.
Operating expenses were $43.7 million for the three months ended September 30, 2023, an increase of $34.2 million compared to operating expenses of $9.5 million for the three months ended September 30, 2022. The increase is primarily driven by non-cash impairment charges totaling $33.3 million of which $14.9 million was related to impairment on goodwill and $18.4 million was related to impairment on intangible assets. There was also an increase of $0.3 million in professional fees associated with our quarterly and annual filings, a $0.1 million gain on sale of property in 2022 that did not reoccur in 2023, an increase to R&D expense of $0.4 million at Vayu related to its drone program and $0.3 million at Alt Labs related to new products.
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