Company: GRRR
Filing Date: 2025-07-02
Form Type: 424B5
Source: 0001213900-25-060827
Chunk: 47

Company: Gorilla Technology Group Inc.
Filing Date: 2025-07-02
Form: 424B5
Chunk 47
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| ● | Gorilla                                                                                                                               
 expects to invest substantially in research and development for the purpose of developing and commercializing new services, and these 
 investments could significantly reduce its profitability or increase its losses and may not generate revenue for Gorilla;             |

| ● | If Gorilla                                                                                                                             
 does not develop enhancements to its services and introduce new services that achieve market acceptance, its growth, business, results 
 of operations and financial condition could be adversely affected;                                                                     |

| ● | If Gorilla                                                                                                     
 is unsuccessful at investing in growth opportunities, its business could be materially and adversely affected; |

| ● | Gorilla                                                                                                                                  
 may need to raise additional funds in the future in order to execute its business plan, and these funds may not be available to Gorilla  
 when it needs them or on favorable terms. If Gorilla cannot raise additional funds when it needs them, its business, financial condition 
 and results of operations could be adversely affected;                                                                                   |

| ● | Aside                                                                                                                             
 from fiscal year 2022, Gorilla has experienced moderate growth in the past five years, and if Gorilla fails to effectively manage 
 its growth, then its business, results of operations and financial condition could be adversely affected;                         |

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| ● | Gorilla                                                                                                                                 
 relies, in part, on partnerships to grow its business. The partnerships may not produce the financial or operating results that Gorilla 
 anticipates. In addition, if Gorilla is unable to enter into partnerships, or successfully maintain them, its growth may be adversely   
 impacted;                                                                                                                               |

| ● | Historically,                                                                                                                      
 a single customer has accounted for a material portion of Gorilla’s revenues and the Government of Egypt is anticipated to account 
 for a material portion of Gorilla’s future revenues, so therefore, the loss of either such historical customer or the Government   
 of Egypt as a customer could materially and adversely affect its business, results of operations and financial condition;          |

| ● | Gorilla                                                                                                                                     
 anticipates that a material portion of its incoming capital inflows will be denominated in Egyptian pounds (“EGP”), and that                
 such capital will need to be converted into U.S. dollars in order to fund Gorilla’s ongoing operations. Such conversions may take           
 months under current market and regulatory conditions and leave Gorilla exposed to fluctuations in the value of EGP, which could materially 
 impact Gorilla’s cash flow management;                                                                                                      |

| ● | A material                                                                                                                           
 portion of Gor