Company: SPPL
Filing Date: 2025-04-08
Form Type: 20-F
Source: 0001641172-25-003217
Chunk: 7

Company: SIMPPLE LTD.
Filing Date: 2025-04-08
Form: 20-F
Item: Item 3
Chunk 7
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 resulting in unauthorized use, modification, destruction or disclosure of data. Any unauthorized use, modification,
destruction or disclosure of data could result in protracted and costly litigation, which could have a material and adverse effect on
our business, financial condition and results of operations.

Cybersecurity
attack incidents are increasing in frequency and evolving in nature and include, but are not limited to, installation of malicious software,
unauthorized access to data and other electronic security breaches that could lead to disruptions in systems, unauthorized release of
confidential or otherwise protected information and the corruption of data. Given the unpredictability of the timing, nature and scope
of information technology disruptions, there can be no assurance that the procedures and controls we employ will be sufficient to prevent
security breaches from occurring and we could be subject to manipulation or improper use of our systems and networks or financial losses
from remedial actions, any of which could have a material and adverse effect on our business, financial condition and results of operations.

Our
insurance coverage may not cover all our damages and losses.

We
maintain insurance policies to provide insurance coverage of our business operations. We expect to renew our insurance policies, such
as our insurance policy for work injury compensation on an annual basis and there is no assurance that we will be able to renew all of
our policies or obtain new policies on similar terms.

The
nature of our business operations entails inherent risks such as risk of fire, theft and property loss at the worksites during the course
of our customer agreements or during the delivery of our services. Also, we do not have key man insurance to cover the loss of key personnel.
While our Directors believe that we have sufficient insurance coverage for our business operations in line with industry standards and
business practices in Singapore and although we may be able to increase our insurance coverage when required, there is no assurance that
our existing or future insurance coverage will be sufficient to indemnify us against all potential losses.

As
a public company, we expect the laws, rules and regulations governing U. S. public companies will make it more expensive for us to
obtain director and officer liability insurance, and we may be required to accept reduced policy limits and coverage or incur substantially
higher costs to obtain the same or similar coverage.

In
the event that our existing insurance coverage is insufficient to indemnify us against all or any losses, our business, financial condition,
results of operations and prospects may be materially and adversely affected.

We
are subject to risks associated with debt financing, including rising interest