Company: DREM
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004861
Chunk: 140

Company: Dream Homes & Development Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 140
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The
Purchase of the Shares is highly speculative and involves a high degree of risk. Each prospective Investor is urged to consider carefully
the risk factors discussed below, in addition to the risks set forth elsewhere, in determining whether an investment in the Company should
be made and is appropriate for them. You should not invest in our common stock unless you can afford to lose your entire investment and
you are not dependent on the funds you are investing.

Our
business operations have been and may continue to be materially and adversely affected by the outbreak of the novel respiratory illness
coronavirus (“COVID-19”).

On
March 11, 2020, the World Health Organization declared the outbreak of the novel respiratory illness COVID-19 a pandemic. The new strain
of COVID-19 is considered to be highly contagious and poses a serious public health threat. The outbreak of COVID-19 emerged in China,
where many of the Company’s material suppliers are located.

Any
outbreak of such epidemic illness or other adverse public health developments may materially and adversely affect the global economy,
our markets and our business. A prolonged disruption or any further unforeseen delay in our operations of the manufacturing, delivery
and assembly process within any of our market areas could continue to result in delays in the delivery of products and services to our
customers, increased costs and reduced revenue.

Our
Board of Directors contains two independent directors.

Our
board is composed of three members, Vincent Simonelli, Christopher Deiterich & Richard Pezzullo. Mr. Simonelli and affiliated companies,
current own or control 56.80% of the issued and outstanding common stock shares of Dream Homes & Development Corporation. Christopher
Deiterich is the second board member, SEC counsel for the Company and an independent director. Mr. Pezzullo was previously an employee
of Dream Homes, serving as the VP of Information Technology, but no longer holds that position, though he remains as third member of
the board. The NASDAQ is the exchange that we selected in order to determine whether our directors and committee members meet the independence
criteria of a national securities exchange, as required by Item 407(a)(1) of Regulation S-K. An independent director means a person who
is not an employee (or a relative of an employee), who has no material business relationship with the company, and is not a significant
owner of the company’s shares. Due to our small size, the Company does not presently have a separately designated audit committee,
compensation committee, or nominating