Alexander Ponomarenko

Regulatory Scrutiny: In 2014,Subsidiary in Kazakhstan received requests from anti-trust authorities regarding its kiosk payment services.
The company anticipates future investigations, which could impact operational flexibility.

Intellectual Property Challenges: The company relies on various legal mechanisms to protect proprietary technology but faces risks of infringement claims. Defending against such claims could be costly and may require redesigning services or discontinuing certain offerings.

Export Control Compliance: Software is subject to U.S. export control laws, and non-compliance could lead to significant penalties. Obtaining necessary export licenses can be time-consuming and may result in lost sales opportunities.

Competitive Pressures: The company faces competition from major firms with greater resources, potentially hindering product development and market acceptance. Smaller companies may also pose significant threats, especially through collaborations with larger entities.

Operational Risks in Conflict Zones: Some development to a team in Kiev, Ukraine, which could be disrupted by political instability. Such disruptions may delay product introductions and affect customer service.