Emerging markets have generally improving fundamentals, but could be vulnerable to sudden tightening
of global financial conditions.
Oil price volatility, trade tensions, geopolitical risk and a «sharp tightening
of global financial conditions» are just a few of the potential pitfalls that lie ahead.
Emerging markets have generally improving fundamentals, but could be vulnerable to sudden tightening
of global financial conditions.
«These (risks) include the possibility of a sharp tightening
of global financial conditions, growing trade tensions, and geopolitical strains — while the outlook for oil prices remains subdued and highly uncertain,» the report said.
Not exact matches
Important factors that could cause actual results to differ materially from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability
of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost
of accommodating, announced increases in the build rates
of certain aircraft; 6) the effect on aircraft demand and build rates
of changing customer preferences for business aircraft, including the effect
of global economic
conditions on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result
of global economic uncertainty or otherwise; 8) the effect
of economic
conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange rates; 9) the success and timely execution
of key milestones such as the receipt
of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation
of our announced acquisition
of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability
of all parties to satisfy their performance requirements under existing supply contracts with our two major customers, Boeing and Airbus, and other customers, and the risk
of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production
of aircraft resulting from cancellations, deferrals, or reduced orders by their customers or from labor disputes, domestic or international hostilities, or acts
of terrorism; 14) any adverse impact on the demand for air travel or our operations from the outbreak
of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact
of future discount rate changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition
of Asco on favorable terms or at all; 18) competition from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect
of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect
of changes in tax law, such as the effect
of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations
of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect
of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability
of raw materials and purchased components; 23) our ability to recruit and retain a critical mass
of highly - skilled employees and our relationships with the unions representing many
of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment
of interest on, and principal
of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness
of any interest rate hedging programs; 28) the effectiveness
of our internal control over
financial reporting; 29) the outcome or impact
of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition
of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result
of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks
of doing business internationally, including fluctuations in foreign current exchange rates, impositions
of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
Actual operational and
financial results
of SkyWest, SkyWest Airlines and ExpressJet will likely also vary, and may vary materially, from those anticipated, estimated, projected or expected for a number
of other reasons, including, in addition to those identified above: the challenges and costs
of integrating operations and realizing anticipated synergies and other benefits from the acquisition
of ExpressJet; the challenges
of competing successfully in a highly competitive and rapidly changing industry; developments associated with fluctuations in the economy and the demand for air travel; the
financial stability
of SkyWest's major partners and any potential impact
of their
financial condition on the operations
of SkyWest, SkyWest Airlines, or ExpressJet; fluctuations in flight schedules, which are determined by the major partners for whom SkyWest's operating airlines conduct flight operations; variations in market and economic
conditions; significant aircraft lease and debt commitments; residual aircraft values and related impairment charges; labor relations and costs; the impact
of global instability; rapidly fluctuating fuel costs, and potential fuel shortages; the impact
of weather - related or other natural disasters on air travel and airline costs; aircraft deliveries; the ability to attract and retain qualified pilots and other unanticipated factors.
«At the same time, there are clear downside risks: political uncertainty, including in Europe; the sword
of protectionism hanging over
global trade; and tighter
global financial conditions that could trigger disruptive capital outflows from emerging and developing economies,» the former French finance minister said.
In the days to come the Fed will have to prove that a new set
of tools for managing interest rates will work as expected; see how higher U.S. rates affect domestic and
global financial conditions; and hope that weak world demand and commodity prices do not lead to an overall bout
of deflation and force the Fed to reverse course.
Such risks, uncertainties and other factors include, without limitation: (1) the effect
of economic
conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including
financial market
conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels
of end market demand in construction and in both the commercial and defense segments
of the aerospace industry, levels
of air travel,
financial condition of commercial airlines, the impact
of weather
conditions and natural disasters and the
financial condition of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization
of the anticipated benefits
of advanced technologies and new products and services; (3) the scope, nature, impact or timing
of acquisition and divestiture or restructuring activity, including the pending acquisition
of Rockwell Collins, including among other things integration
of acquired businesses into United Technologies» existing businesses and realization
of synergies and opportunities for growth and innovation; (4) future timing and levels
of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability
of credit and factors that may affect such availability, including credit market
conditions and our capital structure; (6) the timing and scope
of future repurchases
of United Technologies» common stock, which may be suspended at any time due to various factors, including market
conditions and the level
of other investing activities and uses
of cash, including in connection with the proposed acquisition
of Rockwell; (7) delays and disruption in delivery
of materials and services from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits
of organizational changes; (11) the anticipated benefits
of diversification and balance
of operations across product lines, regions and industries; (12) the outcome
of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact
of the negotiation
of collective bargaining agreements and labor disputes; (15) the effect
of changes in political
conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect
of changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general market
conditions,
global trade policies and currency exchange rates in the near term and beyond; (16) the effect
of changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act
of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability
of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition
of conditions that could adversely affect the combined company or the expected benefits
of the merger) and to satisfy the other
conditions to the closing
of the pending acquisition on a timely basis or at all; (18) the occurrence
of events that may give rise to a right
of one or both
of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee
of $ 695 million to United Technologies or $ 50 million
of expense reimbursement; (19) negative effects
of the announcement or the completion
of the merger on the market price
of United Technologies» and / or Rockwell Collins» common stock and / or on their respective
financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation
of their businesses while the merger agreement is in effect; (21) risks relating to the value
of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability
of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.
But AMRO said its outlook is not without risks as it warned
of the potential impact
of faster - than - expected monetary policy tightening on
global financial conditions, and escalation
of global trade tensions, on capital flows and borrowing costs.
SATURDAY, APRIL 7 CHICAGO - Federal Reserve Bank
of Chicago President Charles Evans speaks on current economic
conditions and monetary policy before Becker Friedman Institute event, «
Financial Stability, the
Global Economy, and Monetary Policy, A Discussion with Charles Evans and Lars Peter Hansen» during the University
of Chicago Graduate China Forum - 1430 GMT.
During difficult market
conditions, such as the asset - backed commercial paper crisis in the summer
of 2007 and the
global financial crisis
of late 2008, the BAX has consistently provided customers with price transparency, liquidity and central counterparty guaranteed transactions.
Among the factors that could cause actual results to differ materially are the following: (1) worldwide economic, political, and capital markets
conditions and other factors beyond the Company's control, including natural and other disasters or climate change affecting the operations
of the Company or its customers and suppliers; (2) the Company's credit ratings and its cost
of capital; (3) competitive
conditions and customer preferences; (4) foreign currency exchange rates and fluctuations in those rates; (5) the timing and market acceptance
of new product offerings; (6) the availability and cost
of purchased components, compounds, raw materials and energy (including oil and natural gas and their derivatives) due to shortages, increased demand or supply interruptions (including those caused by natural and other disasters and other events); (7) the impact
of acquisitions, strategic alliances, divestitures, and other unusual events resulting from portfolio management actions and other evolving business strategies, and possible organizational restructuring; (8) generating fewer productivity improvements than estimated; (9) unanticipated problems or delays with the phased implementation
of a
global enterprise resource planning (ERP) system, or security breaches and other disruptions to the Company's information technology infrastructure; (10)
financial market risks that may affect the Company's funding obligations under defined benefit pension and postretirement plans; and (11) legal proceedings, including significant developments that could occur in the legal and regulatory proceedings described in the Company's Annual Report on Form 10 - K for the year ended Dec. 31, 2017, and any subsequent quarterly reports on Form 10 - Q (the «Reports»).
Overall, the bank says it believes both
global and Canada
financial conditions have improved somewhat despite the subdued pace
of the economic recovery.
These risks and uncertainties include: Gilead's ability to achieve its anticipated full year 2018
financial results; Gilead's ability to sustain growth in revenues for its antiviral and other programs; the risk that private and public payers may be reluctant to provide, or continue to provide, coverage or reimbursement for new products, including Vosevi, Yescarta, Epclusa, Harvoni, Genvoya, Odefsey, Descovy, Biktarvy and Vemlidy ®; austerity measures in European countries that may increase the amount
of discount required on Gilead's products; an increase in discounts, chargebacks and rebates due to ongoing contracts and future negotiations with commercial and government payers; a larger than anticipated shift in payer mix to more highly discounted payer segments and geographic regions and decreases in treatment duration; availability
of funding for state AIDS Drug Assistance Programs (ADAPs); continued fluctuations in ADAP purchases driven by federal and state grant cycles which may not mirror patient demand and may cause fluctuations in Gilead's earnings; market share and price erosion caused by the introduction
of generic versions
of Viread and Truvada, an uncertain
global macroeconomic environment; and potential amendments to the Affordable Care Act or other government action that could have the effect
of lowering prices or reducing the number
of insured patients; the possibility
of unfavorable results from clinical trials involving investigational compounds; Gilead's ability to initiate clinical trials in its currently anticipated timeframes; the levels
of inventory held by wholesalers and retailers which may cause fluctuations in Gilead's earnings; Kite's ability to develop and commercialize cell therapies utilizing the zinc finger nuclease technology platform and realize the benefits
of the Sangamo partnership; Gilead's ability to submit new drug applications for new product candidates in the timelines currently anticipated; Gilead's ability to receive regulatory approvals in a timely manner or at all, for new and current products, including Biktarvy; Gilead's ability to successfully commercialize its products, including Biktarvy; the risk that physicians and patients may not see advantages
of these products over other therapies and may therefore be reluctant to prescribe the products; Gilead's ability to successfully develop its hematology / oncology and inflammation / respiratory programs; safety and efficacy data from clinical studies may not warrant further development
of Gilead's product candidates, including GS - 9620 and Yescarta in combination with Pfizer's utomilumab; Gilead's ability to pay dividends or complete its share repurchase program due to changes in its stock price, corporate or other market
conditions; fluctuations in the foreign exchange rate
of the U.S. dollar that may cause an unfavorable foreign currency exchange impact on Gilead's future revenues and pre-tax earnings; and other risks identified from time to time in Gilead's reports filed with the U.S. Securities and Exchange Commission (the SEC).
«If
global sentiment remains strong and inflation muted, then
financial conditions could remain loose into the medium term, leading to a build - up
of financial vulnerabilities in advanced and emerging market economies alike.
It finds that, despite the significant impact on domestic
financial conditions of global shocks, countries retain influence to achieve domestic objectives — specifically, through monetary policy.
These include the potential adverse effects on European economic activity, on the perceived health
of the
global banking system, and on broader
financial market
conditions.
Forward - looking statements may include, among others, statements concerning our projected adjusted income (loss) from operations outlook for 2018, on both a consolidated and segment basis; projected total revenue growth and
global medical customer growth, each over year end 2017; projected growth beyond 2018; projected medical care and operating expense ratios and medical cost trends; our projected consolidated adjusted tax rate; future
financial or operating performance, including our ability to deliver personalized and innovative solutions for our customers and clients; future growth, business strategy, strategic or operational initiatives; economic, regulatory or competitive environments, particularly with respect to the pace and extent
of change in these areas; financing or capital deployment plans and amounts available for future deployment; our prospects for growth in the coming years; the proposed merger (the «Merger») with Express Scripts Holding Company («Express Scripts») and other statements regarding Cigna's future beliefs, expectations, plans, intentions,
financial condition or performance.
2018 Outlook: «A synchronized improvement in
global economic and
financial market
conditions means fundamentals are likely to play a larger role in driving individual stock prices, while geopolitical risks and investor complacency leave markets vulnerable to bouts
of volatility that may present us with attractive investment entry points.»
«Glenn will add important insights with regards to
global economic
conditions, the state
of risk factors that will influence our strategy allocations and ultimately our manager selections,» Jonathan Horton, the managing partner
of NWQ Capital Management, told The Australian
Financial Review.
Financial markets were resilient despite sharp adjustments in a wide range of global asset prices in the wake of the vote, and financial conditions are generally more accom
Financial markets were resilient despite sharp adjustments in a wide range
of global asset prices in the wake
of the vote, and
financial conditions are generally more accom
financial conditions are generally more accommodative.
Over the last 18 months, the deterioration in the
global financial markets and continually challenging
condition of the macroeconomic environment has negatively impacted consumer spending and we believe has adversely affected the sales
of our Tesla Roadster.
These developments, or the perception that any
of them could occur, have had and may continue to have a significant adverse effect on
global economic
conditions and the stability
of global financial markets, and could significantly reduce
global market liquidity and restrict the ability
of key market participants to operate in certain
financial markets.
«The impact
of this widespread use
of Section 301 would extend and be amplified by
global value chains, which account for two - thirds
of global trade, and tighter
financial conditions,» says Ahya.
The
Conditions at Sea: Worldwide Circumstances Distracting Investors Since the
financial crisis
of 2008 - 2009, investors have been obsessed with macroeconomic themes and distracted by various worldwide circumstances, including deflation in Japan; the state
of global banks;
financial instability in Greece, Cyprus and the European Union; and the challenges facing the BRIC economies (Brazil, Russia, India and China).
The ECB explained this downgrade to its inflation forecast by citing
global growth uncertainties, the general tightening
of financial conditions and falling oil prices.
Brexit vote was one
of the factors behind the latest Fed's decision, and «it could have consequences» for «
global economic and
financial conditions» as international uncertainties «loom large»
In a response to ASX questions, QBE group general counsel Carolyn Scobie said it was not until its board meeting on June 21 that «the
financial condition of each
of its
global divisions, including the emerging markets division, had been clarified and confirmed».
We saw that basically two years ago at the end
of 2015, when the
global financial conditions worsened.
In my humble opinion,
global financial conditions in the light
of European instability will play a larger role in the Fed's decision to raise rates, which is why I maintain it will take a large number to give voice to those Fed voters wishing to raise rates.
Betting that they can avoid the law
of gravity to stay safely at these elevated levels indefinitely doesn't seem wise... The unusually easy
global monetary
conditions today may be magnifying
financial and economic risks.
Examples
of these risks, uncertainties and other factors include, but are not limited to the impact
of: adverse general economic and related factors, such as fluctuating or increasing levels
of unemployment, underemployment and the volatility
of fuel prices, declines in the securities and real estate markets, and perceptions
of these
conditions that decrease the level
of disposable income
of consumers or consumer confidence; adverse events impacting the security
of travel, such as terrorist acts, armed conflict and threats thereof, acts
of piracy, and other international events; the risks and increased costs associated with operating internationally; our expansion into and investments in new markets; breaches in data security or other disturbances to our information technology and other networks; the spread
of epidemics and viral outbreaks; adverse incidents involving cruise ships; changes in fuel prices and / or other cruise operating costs; any impairment
of our tradenames or goodwill; our hedging strategies; our inability to obtain adequate insurance coverage; our substantial indebtedness, including the ability to raise additional capital to fund our operations, and to generate the necessary amount
of cash to service our existing debt; restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business; the significant portion
of our assets pledged as collateral under our existing debt agreements and the ability
of our creditors to accelerate the repayment
of our indebtedness; volatility and disruptions in the
global credit and
financial markets, which may adversely affect our ability to borrow and could increase our counterparty credit risks, including those under our credit facilities, derivatives, contingent obligations, insurance contracts and new ship progress payment guarantees; fluctuations in foreign currency exchange rates; overcapacity in key markets or globally; our inability to recruit or retain qualified personnel or the loss
of key personnel; future changes relating to how external distribution channels sell and market our cruises; our reliance on third parties to provide hotel management services to certain ships and certain other services; delays in our shipbuilding program and ship repairs, maintenance and refurbishments; future increases in the price
of, or major changes or reduction in, commercial airline services; seasonal variations in passenger fare rates and occupancy levels at different times
of the year; our ability to keep pace with developments in technology; amendments to our collective bargaining agreements for crew members and other employee relation issues; the continued availability
of attractive port destinations; pending or threatened litigation, investigations and enforcement actions; changes involving the tax and environmental regulatory regimes in which we operate; and other factors set forth under «Risk Factors» in our most recently filed Annual Report on Form 10 - K and subsequent filings by the Company with the Securities and Exchange Commission.
It is a
condition for progress in international law and the indispensable regulation
of economic, social and political relations at the
global level, particularly in the fields
of financial capital, taxation, migration, information and disarmament.
In some
of these companies the departure
of the CEO coincided with a dramatic change in market
conditions or some other external shock such as the
global financial crisis.
of the North, the necessary changes
of the consumption and production patterns in these countries, and the structural framework
conditions shaped by these countries, particularly in the
global financial, investment and trade systems.
Actual results may differ materially from those expected because
of various known and unknown risks and uncertainties, including, but not limited to, the continuing effects
of the U.S. recession and
global credit environment, other changes in general economic and industry
conditions, the award or loss
of significant client assignments, timing
of contracts, recruiting and new business solicitation efforts, currency fluctuations, and other factors affecting the
financial health
of our clients.
A discussion
of market
conditions and fund performance covering the first half
of the Franklin Mutual
Global Discovery fund's fiscal year, along with a complete list
of holdings and detailed
financial information.
A discussion
of market
conditions and fund's performance covering Franklin Mutual
Global Discovery Fund fiscal year, along with a complete list
of holdings and detailed
financial information.
IG Group, a major
global forex broker, said it was pleased with the decision
of UK's
Financial Conduct Authority (FCA) to delay its final decision on potential tighter restrictions on the trading
conditions and offering
of CFDs to retail clients.
A discussion
of market
conditions and fund's performance covering Templeton
Global Total Return Fund fiscal year, along with a complete list
of holdings and detailed
financial information.
A discussion
of market
conditions and fund performance covering the first half
of Templeton
Global Total Return Fund's fiscal year, along with a complete list
of holdings and detailed
financial information.
Widespread House Price Gains Have Accompanied Accommodative
Financial Conditions (Diffusion Index
of House Price Growth and
Global Financial Conditions)
Risks and uncertainties include but are not limited to, general industry
conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact
of pharmaceutical industry regulation and health care legislation in the United States and internationally;
global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; Merck's ability to accurately predict future market
conditions; manufacturing difficulties or delays;
financial instability
of international economies and sovereign risk; dependence on the effectiveness
of Merck's patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and / or regulatory actions.
Risks and uncertainties include but are not limited to, general industry
conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact
of pharmaceutical industry regulation and health care legislation in the United States and internationally;
global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the company's ability to accurately predict future market
conditions; manufacturing difficulties or delays;
financial instability
of international economies and sovereign risk; dependence on the effectiveness
of the company's patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and / or regulatory actions.
From these three country experiences, we find that fostering public support to implement lasting reform may depend on four measures: (1) forming a public engagement plan and a comprehensive reform policy that are then clearly communicated to the public in advance
of price increases; (2) phasing in price adjustments over a period
of time to ease absorption; (3) providing a targeted compensatory cash transfer to alleviate
financial impacts on low - to middle - income households; and (4) capitalizing on favorable
global macroeconomic
conditions.
A number
of factors contribute to these poor predictions, including the
global financial crisis inducing a reduction in business activity, the Australian economy's continued switch from industrial to service sector, the promotion
of energy conservation, and particularly mild weather reducing the requirement for air
conditioning.
Kiran's experience includes advising a FTSE 100 energy company on its
global HR and payroll outsourcing, advising a FTSE 100
financial institution on a framework agreement for procuring IT services from a single supplier (including applications development and support and maintenance services), advising a central government department on the procurement
of financial advisory services, advising a multinational infrastructure group on the procurement
of its treasury management system using a cloud hosting solution, advising an international supplier
of insulation, roofing and construction products on its procurement
of an ERP system and advising an international packaging business on its terms and
conditions for online selling to consumers.
XinFin is one
of the most promising developments in the latest cryptocurrency space and it's a great thing that the platform is looking forward to improve the
condition of global trade and
financial ecosystem.
Forward - looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level
of activity, performance or achievements
of the Company to be materially different from those expressed or implied by such forward - looking information, including but not limited to: risks related to changes in cryptocurrency prices; the estimation
of personnel and operating costs; general
global markets and economic
conditions; risks associated with uninsurable risks; risks associated with currency fluctuations; competition faced in securing experienced personnel with appropriate industry experience and expertise; risks associated with changes in the
financial auditing and corporate governance standards applicable to cryptocurrencies and ICO's; risks related to potential conflicts
of interest; the reliance on key personnel; financing, capitalization and liquidity risks including the risk that the financing necessary to fund continued development
of the Company's business plan may not be available on satisfactory terms, or at all; the risk
of potential dilution through the issuance
of additional common shares
of the Company; the risk
of litigation.