Item 1A. Risk Factors Summary of Risk Factors Our short and long-term success is subject to numerous risks and uncertainties, many of which involve factors that are difficult to predict or beyond our control. If any of these risks are realized, our business, financial condition, results of operations, and prospects could be materially and adversely affected. Furthermore, additional risks and uncertainties of which we are currently unaware, or which we currently consider to be immaterial, could have a material adverse effect on our business The following is a summary of the most significant risk factors which could have a material impact on our business: • our limited operating history as a public company and significant operating losses; • our need to increase net sales from existing customers and acquire new customers in order to execute our growth strategy; • the short and long-term effects of the coronavirus (“COVID-19”) pandemic on our business and the industry in which we operate; • our ability to successfully implement our growth strategy and obtain additional financing to achieve our goals; • our indebtedness, and the agreements governing such indebtedness, which subject it to required debt service payments, as well as financial restrictions and operating covenants, which may reduce our financial flexibility and affect our ability to operate our business; • our quarterly results may fluctuate significantly, and period-to-period comparisons of our results may not be meaningful; • the substantial customer concentration risk to which we are subject; • potential consolidation of our customers; • our ability to compete successfully in our highly competitive market; • consumer preferences for our products, which can change rapidly; • our ability to introduce new products or successfully improve existing products; • the volatile price of food commodities and packaging materials; • our brand and reputation, as impacted by real or perceived quality or food safety issues with our products; • the effectiveness of our digital marketing strategy and the expansion of our social media presence; • our reliance on third-party delivery and warehousing companies, which could negatively impact our operating results; • any disruption at one of our facilities; • our ability to pay taxes and expenses, including payments under the Tax Receivable Agreement, may be limited by our structure; and • the requirements of being a public company. Additionally, certain statements made in this section constitute “forward-looking statements,” which are subject to numerous risks and uncertainties including those described in this section. For additional information, refer to the section entitled “Cautionary Note Regarding Forward-Looking Statements” within this Annual Report. 9
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