We are not, and the underwriters are not, making an offer to sell these securities in any jurisdiction where the offer or sale is not permitted. Such software applications are often designed to be difficult to remove, block, or disable. We may experience difficulties in completing the administrative procedures necessary to obtain and remit foreign currencies. In order to comply with PRC regulatory requirements, we operate a portion of our business through our primary VIE, Sogou Information, a company with which we have contractual relationships but in which we do not have an actual ownership interest, and its three direct and indirect wholly-owned subsidiaries. In addition, the securities markets have from time to time experienced significant price and volume fluctuations that are not related to the operating performance of particular industries or companies. 
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The online search industry in China is subject to extensive regulation.
As the implementing rules of these new regulations have not been issued, we do not know how or when we will be expected to comply, or how our business will be affected by the application of these regulations. We also rely on key highly-skilled personnel for our business.
The first three, "Dreamlover", "Hero" and "Without You", became worldwide chart-topping singles, the latter becoming Carey's highest charting sogo single of her career. In addition, if such content contains inaccuracies, it is possible that users will seek to hold us liable for damages, because we provide links to such content, even though such sohou is provided by third parties and any negative publicity regarding the accuracy of such content could harm our reputation, and reduce user traffic.
This prospectus also contains data related to the online search market in Musci. The level of exports from the PRC also declined significantly recently. In the event we were unable to enforce these contractual arrangements, we would not be able to exert effective control over our VIEs, and our ability to conduct our business, and our financial conditions and results of operation would be severely adversely affected.
Pursuant to this Anti-Pornography Notice, monetary rewards will be provided to Internet users who report websites that feature pornography. Our success in promoting and enhancing our brand, and our ability to remain competitive, will depend on our success in delivering superior user experience and on our marketing efforts.
Therefore, it is possible that the qualification of one or more of our PRC Subsidiaries or VIEs as a Software Enterprise will be challenged in the future or that such companies will not be able to take any further actions, such as re-application for Software Enterprise qualification, to enjoy such preferential tax treatment.
Since our advertising revenues are generally based on user click-throughs, the expansion of advertisement-blocking on the Internet may decrease our advertising revenues, because when advertisements are blocked they are not downloaded from the server, which means such advertisements will not be tracked as a delivered advertisement. Sohu's decisions with respect to us or our business may be resolved in ways that favor Sohu and therefore Sohu's own shareholders, which may not sofou with the interests of shareholders other than Sohu.
With certain exceptions, an employer must pay severance to an employee where a labor contract is terminated or expires. We will rely on certain exemptions that are available to controlled companies from NYSE corporate governance requirements, including the following, which we do not intend to meet voluntarily: We place certain of our advertisers' promotional links on the Internet properties of third parties, thereby expanding the base of users accessing the advertisements beyond our own user base, and increasing our pay-for-click revenues.
It is important that we maintain good relationships with these agencies. If a business of any target company that we plan to acquire falls into the ambit of security review, we may not be able to successfully acquire such company.
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The depositary will hold the shares underlying your ADSs. Two unused tracks from the album sessions were released as B-sides: The online search industry in China is highly competitive and litigious. The occurrence of a natural disaster or a closure of an Internet data center by a third-party provider without adequate notice could result in lengthy service interruptions.
As new mobile devices are released or updated, we may encounter problems in developing and upgrading our products and services for the new releases and updates, and we may need to devote significant resources to such development and upgrades.
Accordingly, our management will have significant flexibility in applying the net proceeds we receive from this offering. Unlike common law systems, it is a system in which decided legal cases have little precedential value. Our disaster recovery plan for our servers cannot fully ensure safety in the event of damage from fire, floods, typhoons, earthquakes, power loss, telecommunications failures, hacking, and similar events.
Moreover, if we consider transmitted content suspicious, we are required to report such content. In addition, we may have difficulty in successfully promoting and differentiating our new products, services, and features as a result of the market power of our competitors.
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The initial public offering price of our ADSs will be determined by negotiations between us and the representative of the underwriters, based on numerous factors we discuss under "Underwriting. We intend to use the net proceeds from this offering spgou research and development, sales and marketing, and general corporate purposes, including potential strategic investments and acquisitions.
In addition, disputes may arise among the shareholders of Sogou Information with respect to their ownership of Sogou Information, which could lead them to breach skgou agreements with us.
We cannot predict when the CSRC will promulgate additional rules or other guidance. This has enabled the service to strike deals with major record labels and allow its users to buy concert tickets through its payment service.
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If we are unable to maintain and expand such relationships, the quality and reach of delivery of our services will be adversely affected, and it may also be difficult for us to maintain and expand our user base and mjsic awareness of our brand. Our business is exposed to the risk of click-through fraud on our paid search results.
In order to make a capital contribution to either of our PRC subsidiaries, and convert the contributed amount from U. We have also broadened our user acquisition channels by collaborating with our strategic partners and third parties.
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