SLE on Nasdaq

Super League Enterprise, Inc.

Super League Enterprise, Inc. is an American computer integrated systems design services company, active since 2014.2 It is headquartered in Wilmington, United States.2 Its shares trade on Nasdaq under the symbol SLE.2

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Last updated Oct 21, 2026.

Overview

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  • TickerSLE on Nasdaq2
  • IndustryServices-Computer Integrated Systems Design2
  • HeadquartersWilmington, United States2
  • Incorporated inDE3
  • Business address2450 Colorado Ave, Ste 100E, Santa Monica, Ca 904043
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI549300WQTSJRTPRU5C772
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressc/o THE CORPORATION TRUST COMPANY, CORPORATION TRUST CENTER 1209 ORANGE ST, 19801 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 56137412

Super League (Nasdaq: SLE) is an audience intelligence and media activation company operating at the intersection of a 3.3-billion-person global gaming population (Source: Exploding Topics, January 2026) and a $1.0 trillion global advertising market (Source: Dentsu Global, December 2025). The Company connects brands with consumers who play video games by leveraging an emerging data and activation platform that utilizes behavioral and psychographic signals to drive marketing outcomes. By combining differentiated insights, scaled media distribution, and interactive ad formats, Super League enables marketers to reach gamers, one of the largest and most influential audiences in modern culture, across gaming environments, digital video, social media, and connected television.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

40.5%Gross margin5
-115.1%Operating margin5
-182.7%Net margin5
-29.9%Revenue growth, 20255
-118.2%Return on equity5
-$10.7MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Advertising and Sponsorships brought in 49% of the revenue Super League Enterprise, Inc. broke down this way in fiscal 2025.

  1. Advertising and Sponsorships$5.6M549%down 16% from 2024
  2. Publishing and Content Studio$5.4M548%down 37% from 2024
  3. Direct To Consumer$313.0K53%down 64% from 2024
Products and services by year
Products and services20242025
Advertising and Sponsorships$6.7M$5.6M
Publishing and Content Studio$8.6M$5.4M
Direct To Consumer$879.0K$313.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue60¢$6.7M
  • Research and development26¢$2.9M
  • Other costs15¢$1.7M
  • Income tax0¢$9.0K

Out of $11.3M in revenue.5 The company lost money this year.

Financial statements

Revenue67895$11.3M in 2025+946% since 2019
0$10.0M$20.0M$30.0M2019: $1.1M$1.1M20192020: $2.1M$2.1M2020+90%2021: $11.7M$11.7M2021+466%2022: $19.7M$19.7M2022+69%2023: $25.1M$25.1M2023+27%2024: $16.2M$16.2M2024−35%2025: $11.3M$11.3M2025−30%
Gross profit6107895$4.6M in 2025+704% since 2019
0$2.5M$5.0M$7.5M$10.0M2019: $571.0K$571.0K20192020: $1.2M$1.2M2020+112%2021: $5.1M$5.1M2021+324%2022: $8.5M$8.5M2022+66%2023: $9.8M$9.8M2023+15%2024: $6.1M$6.1M2024−38%2025: $4.6M$4.6M2025−25%
Operating income6107895-$13.1M in 2025−37% since 2019
-$100.0M-$75.0M-$50.0M-$25.0M02019: -$20.8M-$20.8M20192020: -$18.7M-$18.7M2020−10%2021: -$25.1M-$25.1M2021+34%2022: -$85.0M-$85.0M2022+239%2023: -$32.8M-$32.8M2023−61%2024: -$16.8M-$16.8M2024−49%2025: -$13.1M-$13.1M2025−22%
Net income6107895-$20.7M in 2025−32% since 2019
-$100.0M-$75.0M-$50.0M-$25.0M02019: -$30.7M-$30.7M20192020: -$18.7M-$18.7M2020−39%2021: -$20.7M-$20.7M2021+11%2022: -$85.5M-$85.5M2022+312%2023: -$30.3M-$30.3M2023−65%2024: -$16.6M-$16.6M2024−45%2025: -$20.7M-$20.7M2025+25%

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
REVENUES$11.3M$16.2M
COST OF REVENUES$6.7M$10.1M
GROSS PROFIT$4.6M$6.1M
Selling, marketing and advertising$7.5M$9.8M
Engineering, technology and development$2.9M$4.4M
General and administrative$7.2M$8.7M
Contingent consideration-$14.0K-$144.0K
Total operating expense$17.6M$22.9M
NET OPERATING LOSS-$13.1M-$16.8M
Gain on sale of intangible assets$343.0K$183.0K
Interest expense, including change in fair value of promissory notes carried at fair value-$8.4M-$559.0K
Loss on extinguishment of liability - contingent consideration-$161.0K-$336.0K
Change in fair value of warrant liability$1.2M$1.1M
Debt issuance costs-$554.0K$0
Other-$49.0K-$123.0K
Total other income (expense)-$7.7M$280.0K
LOSS BEFORE BENEFIT FROM (PROVISION FOR) INCOME TAXES-$20.7M-$16.5M
Benefit from (provision for) income taxes$9.0K-$161.0K
NET LOSS-$20.7M-$16.6M
Basic and diluted loss per common share (in dollars per share)-$40.43-$1,123.63
Weighted-average number of common shares outstanding, basic and diluted (in shares)492.9K shares18.7K shares

Compare Super League Enterprise, Inc. with another company

Corporate structure

Super League Enterprise, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Super League Enterprise, Inc.

  • Evo Fund Filed SCHEDULE 13D/A on Super League Enterprise, Inc., latest Sep 30, 2026 (2 filings since Aug 20, 2026)
  • eSports Now LLC Filed SCHEDULE 13D on Super League Enterprise, Inc., latest Aug 26, 2026
  • Empery Asset Management, LP Filed SCHEDULE 13G/A on Super League Enterprise, Inc., latest Jul 29, 2026 (2 filings since Jan 22, 2026)
  • Pioneer Capital Anstalt Filed SCHEDULE 13G/A on Super League Enterprise, Inc., latest Jan 21, 2026 (2 filings since May 29, 2024)
  • Tasso Partners, LLC Filed SCHEDULE 13G/A on Super League Enterprise, Inc., latest May 15, 2025 (2 filings since Oct 24, 2024)
  • Infinite Reality, Inc. Filed SC 13D on Super League Enterprise, Inc., latest Nov 1, 2024
  • TPG GP A, LLC Filed SC 13D/A on Super League Enterprise, Inc., latest Aug 17, 2023 (4 filings since Jun 1, 2023)
  • Thomas Todd Soviero Filed SC 13G/A on Super League Enterprise, Inc., latest Feb 14, 2022
  • Super League Enterprise, Inc. Wilmington, Delaware, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Super League Enterprise, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$3.7M5 Dec 31, 2025$3.7M5 Dec 31, 20240%
Accumulated depreciation$3.7M5 Dec 31, 2025$3.7M5 Dec 31, 2024+0.4%
Property and equipment, net$8.0K5 Dec 31, 2025$24.0K5 Dec 31, 2024−66.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$14.4M5 Dec 31, 2025$1.3M5 Dec 31, 2024+998.5%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$1.9M5 Dec 31, 2025$1.9M5 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$1.8M5 Dec 31, 2025$4.1M5 Dec 31, 2024−56.1%
Finite-lived intangibles, gross$20.2M5 Dec 31, 2025$20.4M5 Dec 31, 2024−1.0%
Accumulated amortization$18.4M5 Dec 31, 2025$16.4M5 Dec 31, 2024+12.7%
Finite-lived intangibles, net$1.8M5 Dec 31, 2025$4.1M5 Dec 31, 2024−56.1%

Properties, in its own words

As of December 31, 2025 we maintain approximately 200 square feet of office space which is leased on an annual basis at a rate of approximately $3,000 per month. We anticipate no difficulty in extending the leases of our facilities or obtaining comparable facilities in suitable locations, as needed, and we consider our facilities to be adequate for our current needs.

Item 2 of the 10-K filed Mar 31, 2026.4

Leadership

Who has led Super League Enterprise, Inc., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (16)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorBant Breen named Nov 12, 2025 to May 14, 202629
  • DirectorMark Jung named May 25, 2022 to Nov 12, 202530

Former names

  • Super League Gaming, Inc.Sep 24, 2015 to Sep 8, 20233
  • Nth Games, Inc.Oct 8, 2014 to Jun 9, 20153

Timeline

  1. Oct 13, 20268-K Other events31
  2. Sep 29, 20268-K Other events32
  3. Aug 24, 20268-K Other events33
  4. Aug 20, 20268-K Results of operations; Regulation FD disclosure34
  5. Aug 18, 20268-K Entered a material agreement; Unregistered sale of shares; Other events35
  6. Aug 18, 20268-K Entered a material agreement36
  7. Aug 4, 20268-K Entered a material agreement37
  8. Jun 9, 20268-K Entered a material agreement; Ended a material agreement; Change to shareholders' rights38
  9. May 27, 20268-K Change to shareholders' rights; Bylaws or fiscal year changed39
  10. May 19, 20268-K Results of operations; Regulation FD disclosure40
  11. May 6, 20268-K Entered a material agreement; Executive or director change; Shareholder vote41
  12. Apr 3, 20268-K Results of operations; Regulation FD disclosure42
  13. Jan 5, 2026New chief executive Matthew Evan Edelman becomes CEO14
  14. Mar 7, 2019New chief executive Ann Hand becomes CEO15
  15. Oct 1, 2014Founded Super League Enterprise, Inc. is founded2

Calendar

Coming up

  1. Nov 12, 2026Reports results for the quarter ending Sep/202643

When it reported results

  1. Aug 20, 2026Reported quarterly or annual results34
  2. May 19, 2026Reported quarterly or annual results40
  3. Apr 3, 2026Reported quarterly or annual results42
  4. Nov 19, 2025Reported quarterly or annual results44
  5. May 19, 2025Reported quarterly or annual results45
  6. Apr 3, 2025Reported quarterly or annual results46
  7. Nov 14, 2024Reported quarterly or annual results47
  8. Aug 21, 2024Reported quarterly or annual results48

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

344 filings to the SEC since October 2021: 9 annual reports, 15 quarterly reports, 90 major events, 78 insider forms, 15 large holders, 15 private raises, 122 other. The latest 20:

  1. Oct 15, 2026SC 14F1 SCHEDULE 14F1 EDGAR
  2. Oct 15, 2026DEFA14A EDGAR
  3. Oct 13, 20268-K EDGAR
  4. Oct 13, 2026DEFA14A EDGAR
  5. Oct 6, 2026DEFA14A EDGAR
  6. Sep 30, 2026SCHEDULE 13D/A EDGAR
  7. Sep 29, 20268-K EDGAR
  8. Sep 29, 2026424B5 EDGAR
  9. Sep 25, 2026DEF 14A EDGAR
  10. Aug 26, 2026SCHEDULE 13D EDGAR
  11. Aug 24, 20268-K EDGAR
  12. Aug 24, 2026424B5 EDGAR
  13. Aug 20, 2026SCHEDULE 13D EDGAR
  14. Aug 20, 20268-K EDGAR
  15. Aug 18, 20268-K EDGAR
  16. Aug 18, 2026424B5 EDGAR
  17. Aug 18, 2026PRE 14A EDGAR
  18. Aug 18, 2026DEFA14A EDGAR
  19. Aug 18, 20268-K EDGAR
  20. Aug 14, 202610-Q EDGAR

The 344 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

50 open-market trades by officers, directors and large owners since October 2021: 14 buys and 36 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Nov 28, 2025JUNG MARKDirectorSale137$0.85$116Form 4
Jul 24, 2024Gehl Jeff PatrickDirectorBuy25,000$1.34$33.5KForm 4
Jul 23, 2024Gehl Jeff PatrickDirectorBuy25,000$1.37$34.2KForm 4
Jul 18, 2024Gehl Jeff PatrickDirectorBuy50,000$1.11$55.5KForm 4
Sep 22, 2023Gehl Jeff PatrickDirectorBuy50,000$1.82$91.0KForm 4
Sep 18, 2023Hand AnnDirectorBuy10,000$1.61$16.1KForm 4
Aug 15, 2023COULTER JAMES GSale8,461,824$0.20$1.7MForm 4
Jul 27, 2023COULTER JAMES GSale31,329$0.36$11.3KForm 4
Jul 26, 2023COULTER JAMES GSale69,760$0.38$26.5KForm 4
Jul 25, 2023BONDERMAN DAVIDSale4,365$0.35$1.5KForm 4
Jul 24, 2023BONDERMAN DAVIDSale20,601$0.35$7.2KForm 4
Jul 21, 2023WINKELRIED JONSale15,234$0.35$5.3KForm 4
Jul 20, 2023WINKELRIED JONSale2,885$0.35$1.0KForm 4
Jul 19, 2023TPG GP A, LLCSale500$0.35$175Form 4
Jul 18, 2023TPG GP A, LLCSale425$0.35$149Form 4
Jul 17, 2023WINKELRIED JONSale32,303$0.36$11.6KForm 4
Jul 14, 2023WINKELRIED JONSale84,963$0.37$31.4KForm 4
Jul 13, 2023BONDERMAN DAVIDSale57,948$0.40$23.2KForm 4
Jul 12, 2023BONDERMAN DAVIDSale100,013$0.40$40.0KForm 4
Jul 11, 2023BONDERMAN DAVIDSale83,417$0.39$32.5KForm 4

All 50 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Matthew Edelman56$346.0K$2.2M57
2025Clayton Haynes56$300.0K$1.2M57
2025Ann Hand57$402.0K$482.0K57
2024Former Chief Executive OfficerFormer Executive Chair$425.0K57
2024Chief Executive OfficerPresident and Chair$330.0K57
2024Chief Financial Officer and Corporate Secretary$310.0K57

Money raised

Private offerings the company reported to the SEC on Form D.

  1. May 1, 2026Raised $4.3 million in a private offering of equity Form D: $5.1 million offered in all Form D
  2. Oct 22, 2025Raised $20 million in a private offering of equity Form D: 20 investors so far Form D
  3. Sep 20, 2024Raised $1.1 million in a private offering of equity Form D: $5 million offered in all Form D
  4. Jun 26, 2024Raised $1.8 million in a private offering of equity Form D: $5 million offered in all Form D
  5. Nov 30, 2023Raised $8.4 million in a private offering of equity Form D: $30.8 million offered in all Form D
  6. May 3, 2023Raised $750,000 in a private offering of equity Form D: $2.5 million offered in all Form D
  7. Apr 19, 2023Raised $11.8 million in a private offering of equity Form D: $20 million offered in all Form D
  8. Nov 22, 2022Raised $12.6 million in a private offering of equity Form D: $30 million offered in all Form D
  9. May 16, 2022Raised $4.3 million in a private offering of debt Form D: 3 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
UBS Group AG37,098$110.2K0.0%+27,385
Vanguard Fiduciary Trust Co15,674$46.6K0.0%New
Jane Street Group, LLC12,173$36.2K0.0%New
Geode Capital Management, LLC11,114$33.0K0.0%−4,347
Vanguard Capital Management LLC4,420$13.1K0.0%New
Tower Research Capital LLC (TRC)1,997$5.9K0.0%+1,555
Wells Fargo & Company/mn75$2230.0%No change
Barclays PLC60$1780.0%New
BlackRock, Inc.29$860.0%No change
Jpmorgan Chase & Co3$90.0%No change
Northwestern Mutual Wealth Management Co2$60.0%New
Jones Financial Companies Lllp1$30.0%No change
Morgan Stanley1$30.0%No change
Group One Trading LLC1$30.0%No change
SBI Securities Co., Ltd.1$30.0%New
Main Street Group, LTD1$30.0%No change
Federation des caisses Desjardins du Quebec1$30.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Super League Enterprise, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARSuper League Enterprise, Inc.1
  • CIK0001621672
  • Employer ID (EIN)47-19907344
  • Filer statusNon–accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)7373 Services-Computer Integrated Systems Design1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business address2450 Colorado Ave, Ste 100E, Santa Monica, CA 904041
  • Phone213-421-19201
  • Shares outstanding1,695,120 as of Aug 11, 202613
  • Public float$4.1M as of Jun 30, 20254
  • AuditorWithumSmith+Brown, PC, Whippany, New Jersey PCAOB ID 100; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceOct 8, 20141
  • Filings523 in all: 8-K (119), 4 (112), CORRESP (25), 10-Q (23), 424B5 (20), D (18), UPLOAD (18), 3 (17)1
    All 51 form types

    EFFECT (17), S-3 (15), S-3/A (14), D/A (8), DEF 14A (8), PRE 14A (8), SC 13G (8), 10-K (7), 5 (6), DEFA14A (6), S-8 (6), SC 13G/A (6), 144 (5), S-1/A (5), 10-K/A (4), 8-K/A (4), S-8 POS (4), DRSLTR (3), SC 13D (3), SC 13D/A (3), SCHEDULE 13G/A (3), 424B4 (2), DRS (2), DRS/A (2), S-1 (2), SCHEDULE 13D (2), SEC STAFF LETTER (2), 424B3 (1), 8-A12B (1), AW (1), CERT (1), CT ORDER (1), DEF 14C (1), DEFR14C (1), FWP (1), NT 10-K (1), NT 10-Q (1), POS AM (1), PRE 14C (1), S-1MEF (1), SC 14F1 (1), SCHEDULE 13D/A (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Mar 31, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Sep 25, 2026
    Latest 8-K (8-K) Oct 13, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.001 per shareSLENASDAQ

From the cover page of the 10-K filed Mar 31, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Super League Enterprise, Inc. names in Item 1A of its 10-K filed Mar 31, 2026: 53 risks under these headings, as written.4

  • Risks Related to Our Business and Industry
  • Regulatory and Legal
  • Intellectual Property and Technology
  • Governance Risks and Risks Related to Our Common Stock
  • Risks Related to Artificial Intelligence and Machine Learning
  • General Risk Factors
  • We have incurred significant losses since our inception, and we may continue to experience losses in the future.
  • In order to continue as a going concern, we may require additional capital, which we may be unable to obtain.
  • Our business is highly competitive and subject to rapid changes. We face significant competition to attract and retain our customers that we anticipate will continue to intensify. Should we fail to attract and retain customers, our business and results of operations may suffer.
  • We may not be able to sustain our growth, effectively manage our anticipated future growth or implement our business strategies.
  • We are subject to risks associated with operating in a rapidly developing industry and a relatively new market.
  • We generate the majority of our revenues from brands and agencies. If we fail to attract more brands and agencies, or if brands or agencies are less willing to partner with us, our revenues may be adversely affected.
The other 46 risks
  • Our revenue model may not remain effective and we cannot guarantee that our future monetization strategies will be successfully implemented or generate sustainable revenues and profit.
  • The loss of or a substantial reduction in activity by one or more of our largest customers and/or vendors could materially and adversely affect our business, financial condition and results of operations.
  • Our marketing and advertising efforts may fail to resonate with brands and agencies.
  • The video game industry is less advanced than other digital content ecosystems with regard to advertising solutions. There may not be enough spend from global brands to sustain our growth.
  • We have entered into partnership agreements with certain third parties or platforms that enhance our product offerings and capabilities. Without the continuation of these partnerships, we may not be able to offer the same capabilities to our clients.
  • If we fail to maintain and enhance our brand/or if we incur excessive expenses in this effort, our business, results of operations and prospects may be materially and adversely affected.
  • Technology changes rapidly in our business and if we fail to anticipate or successfully implement new technologies or adopt new business strategies, technologies or methods, the quality, timeliness and competitiveness of our offered services may suffer.
  • We may experience security breaches and cyber threats.
  • Our business could be adversely affected if our data privacy and security practices are not adequate, or perceived as being inadequate, to prevent data breaches, or by the application of data privacy and security laws generally.
  • Our advertising revenue is dependent on targeting and measurement tools that incorporate data signals from user activity on websites and services that we do not control, and changes to the regulatory environment, third-party mobile operating systems and browsers, and our own products have impacted, and we expect will continue to impact, the availability of such signals, which will adversely affect our advertising revenue.
  • We may experience system failures, outages and/or disruptions of the functionality of our platform. Such failures, delays and other problems could harm our reputation and business, cause us to lose customers and potentially expose us to customer liability.
  • Our business depends substantially on the continuing efforts of our executive officers, key employees and qualified personnel, and our business operations may be severely disrupted if we lose their services.
  • Our business is affected by seasonal demands, and our financial condition and results of operations will fluctuate from quarter to quarter, which makes our financial results difficult to predict and may not fully reflect our underlying performance.
  • We may continue to make acquisitions and pursue other strategic transactions, which could require significant management attention, disrupt our business, dilute our stockholders, impact our financial condition or results of operations, significantly harm our business, and adversely affect the price of our common stock.
  • We may not be able to successfully integrate our acquisitions and we may incur significant costs to integrate and support the companies we acquire.
  • We may encounter significant difficulties integrating acquired businesses.
  • The preparation of our financial statements involves the use of good faith estimates, judgements and assumptions, and our financial statements may be materially affected if such good faith estimates, judgements or good faith assumptions prove to be inaccurate.
  • Regulatory and Legal Risk Factors
  • Changes in tax laws or regulations that are applied adversely to us or our customers may have a material adverse effect on our business, cash flow, financial condition or results of operations.
  • Our online activities are subject to various laws and regulations relating to privacy and child protection, which, if violated, could subject us to an increased risk of litigation and regulatory actions.
  • The laws and regulations concerning data privacy are continually evolving. Failure to comply with these laws and regulations could harm our business.
  • We may be held liable for information or content displayed on, retrieved from or linked to our platform, or distributed to our users.
  • Intensified government regulation of the Internet industry could restrict our ability to maintain or increase the level of traffic to our platform as well as our ability to capture other market opportunities.
  • From time to time, we may become involved in legal proceedings.
  • Risks Related to Intellectual Property
  • We may be subject to claims of infringement of third-party intellectual property rights.
  • Our technology, content and brands are subject to the threat of piracy, unauthorized copying and other forms of intellectual property infringement.
  • Third parties may register trademarks or domain names or purchase internet search engine keywords that are similar to our registered trademark or pending trademarks, brands or websites, or misappropriate our data and copy our platform, all of which could cause confusion, divert users and creators away from our platform and service offerings, or harm our reputation.
  • We may not be able to prevent others from unauthorized use of our intellectual property, which could harm our business and competitive position.
  • Our patent and trademark applications may not be granted and our patent and trademark rights, once patents are issued and trademarks are registered, may be contested, circumvented, invalidated or limited in scope, and our patent and trademark rights may not protect us effectively once issued and registered, respectively. In particular, we may not be able to prevent others from developing or exploiting competing technologies and trademarks, which could have a material and adverse effect on our business operations, financial condition and results of operations.
  • Governance Risks and Risks Related to our Common Stock
  • Our amended and restated bylaws designate a state or federal court located within the State of Delaware as the exclusive forum for certain litigation that may be initiated by our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us.
  • Although our common stock is listed on the Nasdaq Capital Market, our shares may be thinly traded at times and an active market may never develop.
  • Our stock price may be volatile, and you could lose all or part of your investment.
  • If securities industry analysts do not publish research reports on us, or publish unfavorable reports on us, then the market price and market trading volume of our common stock could be negatively affected.
  • We have not paid cash dividends in the past and do not expect to pay cash dividends on our common stock in the future. Any return on investment will likely be limited to the value of our common stock.
  • Since we do not anticipate paying any cash dividends on our capital stock in the foreseeable future, stock price appreciation, if any, will be your sole source of gain.
  • Our issuance of additional shares of preferred stock could adversely affect the market value of our common stock, dilute the voting power of common stockholders and delay or prevent a change of control.
  • Future issuances of debt securities, which would rank senior to our common stock upon our bankruptcy or liquidation, and future issuances of preferred stock, which would rank senior to our common stock for the purposes of dividends and liquidating distributions, may adversely affect the level of return you may be able to achieve from an investment in our common stock.
  • We are a “smaller reporting company” and we cannot be certain if the reduced reporting requirements applicable to smaller reporting companies will make an investment in us less attractive to investors. In particular, our independent registered public accounting firm is not required to attest to the effectiveness of our internal control over financial reporting pursuant to Section 404 of the Sarbanes-Oxley Act.
  • Ineffective internal controls could have a material adverse effect on our business, financial conditions, and results of operations.
  • We have granted, and may continue to grant, share incentive awards, which may result in increased share-based compensation expenses.
  • Uncertainty in global economic conditions could negatively affect our business, results of operations and financial condition.
  • Integration of artificial intelligence into our operations could result in reputational or competitive harm, legal liability, and other adverse effects on our business.
  • Issues in the use of AI or machine learning in our operations may result in reputational harm or liability.
  • We operate in an intensely competitive industry, and our competitors are developing products and solutions that incorporate AI and ML. We currently do not incorporate AI/ML into our products, which could adversely affect our business and profitability.
  • Catastrophic events may disrupt our business.
  • Changes in the state of the U.S. economy, such as rising inflation and a return to volatile or recessionary conditions in the United States or abroad, and volatile global economic conditions in general, could adversely affect our business or our access to capital markets in a material manner.

Legal proceedings

We may from time to time be subject to various legal or administrative claims and proceedings arising in the ordinary course of business. Litigation or any other legal or administrative proceeding, regardless of the outcome, is likely to result in substantial cost and diversion of our resources, including our management’s time and attention. There are no proceedings in which any of our directors, executive officers or affiliates, or any registered or beneficial stockholder, is an adverse party or has a material interest adverse to our interest.

As of the date hereof, except as described below under “Contingencies” and Note 10, “Commitment and Contingencies,” we are not a party to any material legal or administrative proceedings.

The opening of Item 3, Legal Proceedings.4

Sources

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