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Phunware, Inc. 10-K/A Report: Key Amendments & Risk Factors for 2023

$PHUN
Form 10-K/A
Filed on: 2025-01-15
Source
Phunware, Inc. 10-K/A Report: Key Amendments & Risk Factors for 2023

Here are the key insights extracted from the provided section of the financial report for Phunware, Inc.:

  1. Filing Information:
  • This document is an Amendment No. 1 on Form 10-K/A to the Annual Report on Form 10-K for the fiscal year ended December 31, 2023.
  • Originally filed on March 15, 2024, with the SEC.
  1. Company Details:
  • Entity Name: Phunware, Inc.
  • CIK Number: 0001665300
  • State of Incorporation: Delaware
  • Business Address: 1002 West Avenue, Austin, TX 78701
  • Phone Number: 512-693-4199
  • Common Stock: Par value $0.0001 per share, traded on NASDAQ under the ticker PHUN.
  1. Context and Reporting Period:
  • The reporting period covered in this amendment is from January 1, 2023, to December 31, 2023.
  • There are also references to interim periods as of June 30, 2023, and a future date of January 14, 2025.
  1. Key Amendments:
  • Risk Factors: The amendment adds a new risk factor related to the company's digital assets, specifically its characterization of PhunCoin and PhunToken.
  • Internal Control Weakness: The amendment restates the conclusion that the company's disclosure controls and procedures were not effective as of December 31, 2023, due to a material weakness in internal control over financial reporting identified by management.
  1. Compliance and Certifications:
  • The amendment includes certifications required under Rule 13a-14(a) of the Securities Exchange Act of 1934, which are also being filed as exhibits to this amendment.
  1. Nature of the Amendment:
  • This amendment does not alter any information in the original 10-K filing except for what is explicitly stated (the new risk factor and the internal control assessment). All other information remains unchanged and reflects the disclosures made at the time of the original filing.

Summary

Phunware, Inc. has filed an amendment to its 10-K report for the fiscal year 2023 mainly to address new risk factors concerning its digital assets and to disclose a material weakness in internal controls. The filing emphasizes the need for improved controls and the company's assessment of risks associated with its digital offerings. The company remains publicly traded on NASDAQ under the ticker PHUN.