Maui Land & Pineapple (MLP) risk factors, FY2025 10-K

Risks Related to our Business

1. 01Unstable macroeconomic market conditions could materially and adversely affect our operating results
2. 02Real estate investments are subject to numerous risks and we are negatively impacted by downturns in the real estate market
3. 03acts of God, such as wildfires as recently experienced on Maui, tsunamis, hurricanes, earthquakes, and other natural disasters, including the impacts of pandemic
4. 04We have previously been involved in joint ventures and may be subject to risks associated with future joint venture relationships
5. 05a joint venture or venture partner could lose key personnel
6. 06If we are unable to complete land development projects within forecasted time and budget expectations, if at all, our financial results may be negatively affected
7. 07If we are unable to obtain required land use approvals at reasonable costs, or at all, our operating results would be adversely affected
8. 08If we are unable to successfully compete with other developers of real estate in Maui, our financial results could be materially adversely affected
9. 09We may be subject to certain environmental regulations under which we may have additional liability and experience additional costs for land development
10. 10Changes in weather conditions or natural disasters could adversely impact and materially affect our business, financial condition, and results of operations
11. 11Our insurance coverages may be inadequate to cover any losses we incur
12. 12Unauthorized use of our trademarks could negatively impact our businesses
13. 13Market volatility of asset values and interest rates affect the funded status of our defined benefit pension plans and could, under certain circumstances, have a material adverse effect on our financial condition
14. 14Changes in U.S. Accounting Standards may adversely impact us
15. 15Even if we are not targeted directly, cyber-attacks on the U.S. government, financial markets, financial institutions, or other businesses, including our tenants, vendors, software creators, cloud providers, and other third parties with whom we do business, could disrupt our normal business operations and networks

Risks Relating to our Stock

1. 16Our stock price has been subject to significant volatility
2. 17Share ownership by our affiliates make it more difficult for third parties to acquire us or effectuate a change of control that might be viewed favorably by other stockholders53% rewritten
3. 18Trading in our stock over the last twelve months has been limited, so investors may not be able to sell as much stock as they want at prevailing prices
4. 19We do not anticipate declaring any cash dividends on our common stock
5. 20We may need additional funds which, if available, could result in significant dilution to our stockholders, have superior rights to our common stock and contain covenants that restrict our operations