BOWFLEX INC. 10-K Cybersecurity GRC - 2024-08-05

Page last updated on August 6, 2024

BOWFLEX INC. reported their cybersecurity risk management and governance process in a yearly 10-K filed on 2024-08-05 19:32:28 EDT.

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10-K filed on 2024-08-05

BOWFLEX INC. filed a 10-K at 2024-08-05 19:32:28 EDT
Accession Number: 0001078207-24-000092

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Item 1C. Cybersecurity.

Item 1C. Cybersecurity Following the completion of the Asset Sale, the Company has been in the process of winding down, liquidating and dissolving all of its business and operations, including transferring the Acquired Assets to Johnson Health Tech, reconciling claims in the Chapter 11 Cases, preparing financial reports, winding down foreign affiliated entities, and preparing for emergence from bankruptcy as contemplated in a liquidation plan filed in the Chapter 11 Cases. Due to limited resources and personnel, we do not anticipate having in place on a going forward basis formal cybersecurity risk management programs or processes for assessing risk, which may make us susceptible to heightened cybersecurity risks. We also depend on third parties to provide certain software and related services, and any sophisticated and deliberate attacks on, or security breaches in, systems or infrastructure that we utilize, including those of third parties, could lead to the corruption or misappropriation of our information. Because we expect to further rely on third parties, we will also depend upon the personnel and the processes of third parties to protect against cybersecurity threats, and we will have no personnel or processes of our own for this purpose. Prior to the Chapter 11 Cases, the Audit Committee of our Board was responsible for the oversight of risks from cybersecurity threats. With few remaining Board members since the completion of the Asset Sale, the Board has assumed responsibility for overseeing risks from cybersecurity threats.

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