Company: VHC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001140361-25-018930
Chunk: 103

Company: VirnetX Holding Corp
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 4C
Chunk 103
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 to delay their decisions on spending for the services we provide and perpetuate significant changes in regional and global economic conditions and cycles. These events may also pose risks to our
        personnel and to physical facilities and operations, which could adversely affect our financial results.

        27

Trading in our common stock is limited and the price of our common shares may be subject to volatility.

Our common stock is currently listed on the NYSE and was previously listed on the NYSE American LLC (formerly the NYSE MKT LLC). Over the past years, the market price of our common stock has
        experienced significant fluctuations. Between April 1, 2024, and March 31, 2025, the adjusted closing price on the NYSE for our common stock ranged between $3.62 and $9.32. The price of our common stock may continue to be volatile as a result of
        several factors, some of which are beyond our control. These factors include, but are not limited to, the following:

    •

              Annual variations, actual or anticipated, in our operating results;

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              Significant changes in our management;

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              Large purchases or sales of common stock or derivative transactions related to our stock;

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              Actual or anticipated announcements of new products or services by us or competitors;

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              General conditions in the markets in which we compete; and

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              General social, political, economic, and financial conditions, including significant volatility in the global financial markets.

In addition, we believe there has been and may continue to be substantial trading in derivatives of our stock, including short selling activity or related similar activities, which are beyond our
        control, and which may be beyond the full control of the SEC and Financial Institutions Regulatory Authority (“FINRA”). While the SEC and FINRA rules prohibit some forms of short selling and other activities that may result in stock price
        manipulation, such activity may nonetheless occur without detection or enforcement. We have held conversations with regulators concerning trading activity in our stock; however, there can be no assurance that should there be any illegal
        manipulation in the trading of our stock, it will be detected, prosecuted, or successfully eradicated. Significant short selling market manipulation could cause our stock trading price to decline, to become more volatile, or both. For more
        information regarding trading in our common stock and listing on the NYSE, see additional risk factors included elsewhere in this Quarterly Report on