Risk factors All business activities and ownership of shares are associated with some risk, which also applies to Vigmed. There are several risk factors that affect and might affect operations in Vigmed.These risk factors include those related to Vigmed but also risks that are not directly linked to the company but will affect the industry in which the company operates. If any of the risk factors materialize, the company's business, growth, earnings, financial condition could be adversely affected. Furthermore, the risk factors might lead to an investor in Vigmed shares losing part or all of his or her investment. Below is a report of certain risk factors which the Board considers might be relevant to Vigmed or to an investment in the company's shares. The account is not exhaustive and the risk factors are not ranked. Each prospective investor should carefully consider the following risk factors and other information in this corporate presentation and form an opinion about each risk factor and its importance to the company. Market risksThere are a number of established multinationals like Vigmed active within the field of needle products. There is a risk that more players will emerge, thus increasing the competition. Vigmed is also a new player with new products on the market. There is a risk that customers prefer an established and well-known supplier with a long history within the field. However, the company's employees have extensive experience from within the industry and Vigmed is considered to have good knowledge of the abilities of its competitors. Organizational risksVigmed was formed in 2009 and operations are led by a skilled and experienced management group, which has the support from an active Board and have access to world-leading specialists. The company has a number of key individuals who possess unique expertise and are of great importance to the business. If one or more of these key employees leave the company, it could have a negative impact on operations. Furthermore, there is no guarantee that Vigmed will be able to build the organization and recruit staff at the pace required to implement the company's business plan. Supplier risksIf subcontractors are not able to deliver the required capacities, Vigmed might, if necessary, select other external suppliers. However, this could result in delays. Furthermore, there is a risk that high general demand can cause a shortage of components at all identified suppliers. Patents and privacy risksMuch of Vigmed’s technology is patented or patent pending. However, there is always a risk that competitors, with or without intent, infringe Vigmed’s rights. Should this occur, it might in some cases be difficult for Vigmed to assert its rights fully in a court case, which could adversely affect the company. The technologies and products which Vigmed uses or seeks to develop and commercialize, could even allegedly infringe patents owned or controlled by another party. If a third party should initiate legal proceedings against Vigmed and the company loses such a process, Vigmed might be forced to pay substantial damages. Uncertainty due to patent lawsuits or other proceedings initiated and pursued could have a material adverse effect on Vigmed’s competitiveness.In addition to patented products and technology Vigmed uses its own know-how which is not protected by patents. Vigmed strives to protect such information, which includes confidentiality agreements with employees, consultants and partners. However, there is no guarantee that such agreements protect against the disclosure of confidential information, rights of employees, consultants and partners' intellectual property rights or that the agreements provide sufficient remedy for breach. Additionally, Vigmed’s trade secrets might otherwise become known or be independently developed by competitors. If Vigmed’s internal information and knowledge cannot be protected, the business might be adversely affected. Regulatory risksThe rules relating to needlestick protective products are complex and might change over time. Such changes might increase Vigmed’s costs, hinder sales and have a material adverse effect on the company's ability to generate revenue. Nor is there any guarantee that the rules which currently apply, or interpretations of these rules, will not be changed in such a way that the company's operations are affected negatively with a consequent effect on earnings and financial position. Contract RisksVigmed has signed agreements with a number of parties and further agreements are expected to be concluded in the future. Although considerable resources are devoted to sign contracts with high legal quality there is always a risk that Vigmed is not able to complete contracts which sufficiently cover all parts, or to protect itself against a breach of contract in an acceptable manner for the company. Financial RisksVigmed will have most of its sales in currencies other than SEK, where EUR is the most important currency. The costs will in part be in USD-related currencies. Vigmed intends to not hedge their revenues and expenses denominated in foreign currencies, which means that there is a currency risk for the business. Vigmed has sufficient financial resources to fund operations for at least the coming twelve months. However, if Vigmed’s sales fall short of expectations the company might need to secure additional capital, which might lead to that additional equity capital must be contributed. There is a risk that Vigmed might need to issue new shares, which might carry the risk of dilution for existing shareholders. Risks related to the sharesShareholders with significant influenceThe company’s private founders will through their ownership be able to exercise a significant influence over matters which require shareholder approval at a General Meeting, including the appointment and removal of directors and any proposed merger, consolidation or sale of assets or other business transactions. This influence can be detrimental for shareholders whose interests are different from the founders' interests. Other owners might also, depending on the exact ownership structure of Vigmed by the time of listing on First North, come to own or later acquire possession of such size that it might change their influence over the company.Limited liquidity in Vigmed Holding AB's shareThe conditions for favorable liquidity in Vigmed Holding’s shares are advantageous as the company at the listing will have more than 5,000 stockholders. However, there is uncertainty about the stock market's interest in the Vigmed share, and if active and liquid trading does not develop the share, it might lead to difficulties for shareholders to sell major items within a short period without affecting the price of the share.Fluctuations in share priceAn investment in Vigmed involves risk. The Vigmed share might fluctuate over time and there is no guarantee that the share price will have a positive development. The stock market's overall development and the development of Vigmed’s share depend on a number of factors beyond the company's control. Although the company's business develops positively, there is a risk that an investor suffers a loss on the sale of his or her holdings.