Scott's Liquid Gold Files 2023 10-K

TL;DR

<b>Scott's Liquid Gold, Inc. has filed its annual 10-K report for the fiscal year ending December 31, 2023.</b>

AI Summary

Scott's Liquid Gold - Inc. (HKHC) filed a Annual Report (10-K) with the SEC on March 26, 2024. Scott's Liquid Gold, Inc. filed its 2023 10-K on March 26, 2024. The filing covers the fiscal year ending December 31, 2023. The company is classified under SIC code 2844 for Perfumes, Cosmetics & Other Toilet Preparations. Key addresses and phone numbers for the Greenwood Village, CO office are provided. The filing references various financial instruments and agreements, including term loans and revolving credit facilities.

Why It Matters

For investors and stakeholders tracking Scott's Liquid Gold - Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of the company's financial performance, operational activities, and risk factors for the fiscal year 2023. Investors and analysts can use this report to assess the company's financial health, strategic direction, and potential future performance.

Risk Assessment

Risk Level: medium — Scott's Liquid Gold - Inc. shows moderate risk based on this filing. The company's financial disclosures are extensive, but specific revenue and profitability figures for the current year are not immediately available in this header data, requiring a deeper dive into the full filing.

Analyst Insight

Review the full 10-K filing to identify specific revenue, net income, and EPS figures for fiscal year 2023 to assess financial performance.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported period)
• 2024-03-26 — Filing Date (Date of submission)
• 2844 — SIC Code (Industry classification)

Key Players & Entities

• Scott's Liquid Gold - Inc. (company) — Filer name
• 20231231 (date) — Fiscal year end
• 20240326 (date) — Filing date
• Greenwood Village, CO (location) — Business address city and state
• LaPlata Capital LLC (company) — Related party member
• UMBBank NA (company) — Revolving credit facility provider

FAQ

Industry Context

Scott's Liquid Gold operates within the Perfumes, Cosmetics & Other Toilet Preparations industry.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose material information.

What Investors Should Do

1. Analyze the full 10-K for detailed financial statements (income statement, balance sheet, cash flow).
2. Identify any new business segments, product launches, or strategic initiatives mentioned.
3. Review the 'Risk Factors' section for any significant changes or new risks identified by management.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-26: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial analysis of the 2023 10-K filing; comparison to prior filings will require accessing those documents.

Key Financial Figures

• $0.10 — Section 12(g) of the Act: Common Stock, $0.10 Par Value Indicate by check mark if t

Filing Documents

• slgd-20231231.htm (10-K) — 2037KB
• slgd-ex21.htm (EX-21) — 7KB
• slgd-ex23_1.htm (EX-23.1) — 6KB
• slgd-ex23_2.htm (EX-23.2) — 4KB
• slgd-ex24.htm (EX-24) — 14KB
• slgd-ex31_1.htm (EX-31.1) — 12KB
• slgd-ex32_1.htm (EX-32.1) — 7KB
• 0000950170-24-036394.txt (&nbsp;) — 9641KB
• slgd-20231231.xsd (EX-101.SCH) — 1450KB
• slgd-20231231_htm.xml (XML) — 1870KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 3 Item 1B. Unresolved Staff Comments 7 Item 1C. Cybersecurity 7 Item 2.

Properties

Properties 8 Item 3.

Legal Proceedings

Legal Proceedings 8 Item 4. Mine Safety Disclosures 8 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 9 Item 6. RESERVED 9 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 10 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 14 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 15 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 39 Item 9A.

Controls and Procedures

Controls and Procedures 39 Item 9B. Other Information 40 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 40 PART III Item 10. Directors, Executive Officers and Corporate Governance 41 Item 11.

Executive Compensation

Executive Compensation 44 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 47 Item 13. Certain Relationships and Related Transactions, and Director Independence 48 Item 14. Principal Accounting Fees and Services 48 PART IV Item 15. Exhibits and Financial Statement Schedules 49 Item 16. Form 10-K Summary 50 PART I (in thousands, except per share data)

BUSINESS

ITEM 1. BUSINESS Overview Scott's Liquid Gold-Inc., a Colorado corporation, was incorporated on February 15, 1954. In this Report the terms "we," "us," or "our" refer to Scott's Liquid Gold-Inc. and our subsidiaries, collectively. We develop, market, and sell high quality products. Our business is comprised of one segment, household products. During 2023, our family of brands included: Scott's Liquid Gold ; Alpha Skin Care; Neoteric Diabetic Skin Care ; Denorex ; Zincon ; Kids N Pets ; Messy Pet ; and BIZ . In December 2022, we sold the Prell brand, in January 2023 we sold the Scott's Liquid Gold brand, and in June 2023 we sold the BIZ and Alpha Skin Care brands. In September 2023 we sold our wholly owned subsidiary Neoteric Cosmetics, Inc. ("Neoteric"), which included the Neoteric Diabetic Skin Care , Denorex , and Zincon brands through a stock purchase agreement. We sold each of these brands to unaffiliated buyers. Alpha Skin Care, Neoteric Diabetic Skin Care , Denorex , and Zincon brands previously comprised our health and beauty care segment. Upon the sale of these various brands throughout 2023, our business now operates under a single household products segment consisting of our Kids N Pets and Messy Pet product lines. Kids N Pets and Messy Pet represent our continuing operations in all periods presented. In conjunction with the sale of the Scott's Liquid Gold brand, the Company may continue to use names "Scott's Liquid Gold" and "SLG" for up to one year following the closing date of the agreement on January 23, 2023. On December 6, 2023, the Company signed a Second Amendment to the Asset Purchase Agreement which extended the use of the aforementioned names to eighteen months following the closing date of the agreement on January 23, 2023. Following this transitional name period, the Company will only be able to use the aforementioned names in connection with retaining records and other historical or archived documents and any use req

RIS K FACTORS

ITEM 1A. RIS K FACTORS. The following is a discussion of certain material risks that may affect our business. These risks may negatively impact our existing business, future business opportunities, our financial condition or our financial results. In such case, the trading price of our common stock could also decline. Additional risks and uncertainties not presently known to us, or that we currently see as immaterial, may also negatively impact our business. Business and Industry Risks A loss of one or more of our major customers could have a material adverse effect on our product sales. For a majority of our sales, we are dependent upon a small number of major retail customers. The easy access of consumers to our products is dependent upon these major retail stores and other retail stores carrying our products. The willingness of retail customers to carry any of our products depends on various factors, including the level of sales of the product at their stores. In addition, private label products sold by retail trade chains, which are typically sold at lower prices than branded products, are a source of competition for certain of our product lines. 3 Any declines in sales of our products to consumers could result in the loss of retail customers and a corresponding decrease in the distribution of the products, as well as increased costs related to any markdown or return of our products. It is uncertain whether the consumer base served by these stores would purchase our products at other retail stores. A continued change in the consumer product retail market may cause our sales to decline. Our performance depends upon the general health of the economy and of the retail environment in particular. Consumer products, such as those marketed by us, are increasingly being sold by club stores, dollar stores, mass merchandisers, e-commerce retailers and subscription services. The retail environment is changing with the growth of third-party resellers and alt

View Full Filing

View this 10-K filing on SEC EDGAR