The discussion following should be read in conjunction with, and is qualified in its entirety by, the financial statements and the notes thereto included elsewhere in this Annual Report on Form 10-K.
(A) RESULTS OF OPERATIONS
Since we exited from bankruptcy proceedings on
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(B) LIQUIDITY AND CAPITAL RESOURCES
Kenilworth has not conducted any new business operations since 1991. In 2019 and 2020, the current audit shows stock dilution value of .0032 and.0015 respectively.
Presently
CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND RISK FACTORS
The information contained in this Form 10-K and Kenilworth's other filings with
the
Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for forward-looking statements. Certain information included in this Annual
Report on this Form 10-K contains statements that are forward-looking,
including, but not limited to, statements relating to our business strategy and
development activities as well as other capital spending, financing sources, the
effects of regulation (including gaming and tax regulations), expectations
concerning future operations, margins, profitability and competition. Any
statements contained in this Form 10-K that are not statements of historical
fact may be deemed to be forward- looking statements. Without limiting the
generality of the foregoing, in some cases, you can identify forward-looking
statements by terminology such as "may," "will," "should," "would," "could,"
"believe," "expect," "anticipate," "estimate," "intend," "plan," "continue" or
the negative of these terms or other comparable terminology. Such
forward-looking information involves important risks and uncertainties that
could significantly affect anticipated results in the future and, accordingly,
such results may differ from those expressed in any forward-looking statements
made by us. These risks and uncertainties include, but are not limited to, our
lack of recent operating history, existing management, general domestic or
international economic conditions, pending or future legal proceedings, changes
in federal or state tax laws or the administration of such laws, changes in
gaming laws or regulations (including the legalization of gaming in certain
jurisdictions), applications for licenses and approvals under applicable
jurisdictional laws and regulations (including gaming laws and regulations). You
should not place undue reliance on any forward-looking statements, which are
based only on information currently available to us. We undertake no obligation
to publicly release any revisions to such forward-looking statements to reflect
events or circumstances after the date of this 10-K report for the year ended
Risk & Uncertainties
Due to the global pandemic of COVID-19,
Going Concern
In efforts to help
11 Table of Contents RISK FACTORS NO OPERATING HISTORY
We have had no new revenues from operations since 1991. We exited from bankruptcy proceedings in 1998 without assets and liabilities. We have had no revenues from operations since then and we may never have any revenues from operations in the future, which may result in the termination of our business.
WE HAVE NO WORKING CAPITAL
As of
OUR BUSINESS IS ONLY IN THE PLANNING STAGE
As of
RAPID CHANGES IN TECHNOLOGY
Technology in general is subject to rapid change. Kenilworth will need to maintain an ongoing research and development effort of which there can be no assurances of success or availability of funds.
WE ARE ENGAGED IN A HIGHLY COMPETITIVE INDUSTRY
Our business is subject to significant competition. Competition exists from larger companies that possess substantially greater technical, financial, sales and marketing resources that Kenilworth presently possesses. Such competition is expected to increase. Such increased competition may have a material adverse effect on Kenilworth's ability to successfully market its products.
WE WERE GRANTED A PATENT FOR THE VARIOUS ASPECTS OF SIMULCAST WAGERING
On
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OUR OFFICERS AND DIRECTORS WILL HAVE SIGNIFICANT CONTROL OVER US AND MAY APPROVE OR REJECT MATTERS CONTRARY TO A VOTE OF OUR SHAREHOLDERS
Our executive officers and directors together with their affiliates beneficially own a significant percentage of our outstanding common stock. These stockholders, if acting together, will be able to significantly influence all matters requiring approval by our stockholders including the election of directors and the approval of mergers or similar transactions even if the stockholders disagree.
SHARES ELIGIBLE FOR FUTURE SALE COULD CAUSE OUR STOCK PRICE TO FALL
If our stockholders sell substantial amounts of our common stock in the public
market, the market price of our common stock would most likely fall. As of
WE DO NOT INTEND TO PAY DIVIDENDS
We are not able to pay any dividends because we have no funds available to do so. Even if we had funds available, we do not intend or declare to pay any dividends on our common stock in the near future.
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