PTK Acquisition Corp. Going Concern
PTK Acquisition Corp. (NYSE American: PTK.U) disclosed an audit opinion regarding its financial statements for the fiscal year ending December 31, 2020, identifying a concern about the Company's ability to continue as a going concern. This does not alter the financial statements themselves. PTK Acquisition Corp. is a blank check company aiming to merge with target businesses, primarily in the high-tech industry in North America. The release also includes forward-looking statements that caution investors about inherent risks and uncertainties, including economic conditions and competition.
- Focuses on identifying target businesses in the high-tech industry in North America, which may provide strategic growth opportunities.
- Includes an audit opinion highlighting concerns about the Company's ability to continue as a going concern.
PTK Acquisition Corp. (NYSE American: PTK.U) (the “Company”), pursuant to the disclosure requirements of the NYSE American Company Guidelines Sections 401(h) and 610(b), the Company advises that its audited financial statements for the fiscal year ended December 31, 2020, included in its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 as filed with the Securities and Exchange Commission, contains an audit opinion from its independent registered public accounting firm that includes an explanatory paragraph related to the Company’s ability to continue as a going concern. This advisement does not represent any change or amendment to the Company’s financial statements or to its Annual Report on Form 10-K for the fiscal year ended December 31, 2020.
About PTK Acquisition Corp.
PTK Acquisition Corp. is a blank check company organized for the purpose of effecting a business combination with one or more target businesses. PTK Acquisition Corp.’s efforts to identify a prospective target business will not be limited to a particular industry or geographic region, although it intends to focus its search on target businesses operating in North America in the high-tech industry.
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical facts, and in some cases, can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “anticipate”, “estimate”, “believe”, “continue”, “project”, “plan”, the negative version of these words or other similar expressions. Readers are cautioned not to place undue reliance on any such forward-looking statements. These forward-looking statements inherently involve risks and uncertainties that are detailed in the companies’ registration statements and other filings with the Securities and Exchange Commission and, therefore, actual results could differ materially from those projected in the forward-looking statements. The companies assume no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
All forward-looking statements speak only as of the date hereof and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Factors which could have a material adverse effect on our operations and future prospects include, but are not limited to, changes in economic conditions generally and the tech market specifically, legislative/regulatory, risks associated with debt financing, interest rates, competition for a target business, risks related to uncertainty and disruption in global economic markets as a result of COVID-19 (commonly referred to as the coronavirus), and other risks and uncertainties described herein, and in our filings with the Securities and Exchange Commission (“SEC”) from time to time. These risks and uncertainties should be considered in evaluating any forward-looking statements.
The forward-looking statements represent the Company’s views as of the date on which such statements were made. The Company anticipates that subsequent events and developments may cause those views to change. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date hereof. The Company expressly disclaims a duty to provide updates to forward-looking statements, whether as a result of new information, future events or other occurrences.
Additional factors that may affect the Company’s business or financial results are described in the risk factors included in the Company’s filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210503005768/en/
FAQ
What does the audit opinion mean for PTK Acquisition Corp. (PTK.U)?
What are the main risks highlighted in PTK Acquisition Corp.'s press release?
What industries is PTK Acquisition Corp. targeting for potential business combinations?
What fiscal year does the audit opinion pertain to for PTK Acquisition Corp.?
How does forward-looking information affect PTK Acquisition Corp. (PTK.U)?
