Item
8.01 Other Events.
On
March 16, 2023, Polished.com Inc. (the “Company”) experienced a hacking attack that impacted the check-out page on the Company’s
e-commerce website. In response, the Company deployed containment measures, launched an investigation with assistance from third-party
cybersecurity experts and notified appropriate law enforcement authorities. The Company considers the matter remediated.
The
investigation determined that certain personal information, including names, addresses, zip codes, payment card numbers, expiration dates,
and CVVs, was extracted from the Company’s systems as part of this incident. The investigation could not determine with precision
which payment card data was included in the timeframe of exposure. Out of an abundance of caution, the Company notified all payment card
users who made transactions on the Company’s e-commerce website within the window of exposure. As of May 24, 2023, the Company provided
appropriate notice to approximately 9,290 individuals, as well as to regulatory authorities in accordance with applicable law.
The
Company has incurred, and may continue to incur, certain expenses related to this attack. Further, the Company remains subject to risks
and uncertainties as a result of the incident, including as a result of the data that was extracted from the Company’s network as noted
above. Additionally, security and privacy incidents have led to, and may continue to lead to, additional regulatory scrutiny.
Although
we are unable to predict the full impact of this incident, including could negatively impact our operations or results of operations on
an ongoing basis, we presently do not expect that it will have a material effect on the Company’s operations.
Forward-Looking
Statements
This
Current Report on Form 8-K contains “forward-looking statements” that are subject to substantial risks and uncertainties. All
statements, other than statements of historical fact, contained in this Current Report on Form 8-K are forward-looking statements. Forward-looking
statements contained in this Current Report on Form 8-K may be identified by the use of words such as “anticipate,” “believe,”
“contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,”
“might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,”
“should,” “will”, “would,” or the negative of these words or other similar expressions, although not all
forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject
to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based
on assumptions as to future events that may not prove to be accurate. You should not place undue reliance on forward-looking statements
because they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company’s control
and which could materially affect results. Factors that may cause actual results to differ materially from current expectations include,
among other things, those described more fully in the section titled “Risk Factors” of the Company’s Annual Report on
Form 10-K for the year ended December 31, 2021, and Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, filed with the
Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and the Company
undertakes No duty to update such information except as required under applicable law.