Innovative MedTech Announces Board and Executive Changes
Ticker: IMTH · Form: 8-K · Filed: Apr 22, 2024 · CIK: 1331612
| Field | Detail |
|---|---|
| Company | Innovative Medtech, Inc. (IMTH) |
| Form Type | 8-K |
| Filed Date | Apr 22, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $1,841,537.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, board-of-directors, executive-compensation
TL;DR
Board shakeup at Innovative MedTech, expect new direction.
AI Summary
Innovative MedTech, Inc. announced on April 18, 2024, a change in its board of directors and executive compensation arrangements. The filing details the departure of certain officers and directors, the election of new directors, and updates to compensatory plans. Specific financial figures related to these changes were not detailed in this initial 8-K filing.
Why It Matters
Changes in a company's board and executive compensation can signal shifts in strategy, operational focus, or potential future performance.
Risk Assessment
Risk Level: medium — Changes in leadership and compensation can introduce uncertainty and signal potential strategic shifts, impacting the company's future performance.
Key Players & Entities
- Innovative MedTech, Inc. (company) — Registrant
- Delaware (jurisdiction) — State of Incorporation
- April 18, 2024 (date) — Date of earliest event reported
FAQ
What specific roles have been affected by the departure of officers and directors?
The filing indicates the departure of certain officers and directors, but does not specify the exact roles in this report.
Who are the newly elected directors?
The filing states that directors have been elected, but their names are not provided in this document.
What are the key changes in the compensatory arrangements for officers?
The filing mentions updates to compensatory arrangements for certain officers, but the details of these changes are not specified here.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on April 18, 2024.
What is the primary purpose of this 8-K filing?
This 8-K filing is a current report detailing the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers, as well as other events.
Filing Stats: 396 words · 2 min read · ~1 pages · Grade level 11.6 · Accepted 2024-04-22 16:26:56
Key Financial Figures
- $1,841,537.01 — connection with SarahCare, and seeking $1,841,537.01 in damages, plus interests, costs and a
Filing Documents
- imth_8k.htm (8-K) — 20KB
- 0001477932-24-002284.txt ( ) — 130KB
- imth-20240418.xsd (EX-101.SCH) — 6KB
- imth-20240418_lab.xml (EX-101.LAB) — 13KB
- imth-20240418_cal.xml (EX-101.CAL) — 1KB
- imth-20240418_pre.xml (EX-101.PRE) — 8KB
- imth-20240418_def.xml (EX-101.DEF) — 2KB
- imth_8k_htm.xml (XML) — 3KB
02 Departure of Directors or Certain Officers, Appointment of Certain Officers
Item 5.02 Departure of Directors or Certain Officers, Appointment of Certain Officers. On April 18, 2024, Innovative MedTech, Inc. (the "Company") terminated Merle Griff, PhD., as the Company's CEO, and Michael Friedman, the Company's President and CFO, was appointed as CEO of the Company.
01 Other Events
Item 8.01 Other Events. On or about April 17, 2024, the Company was notified that a complaint had been filed against it in the United States District Court for the Northern District of Ohio, Eastern Division (case no. 5:24-cv-00687), by Merle Griff, Adam Griff and Brian Froelich (the "Plaintiffs"), who are the original shareholders of SarahCare, which is wholly owned by the Company, alleging breach of breach of contract and related causes of action in connection with unpaid royalties pursuant to the Company's original purchase agreement in connection with SarahCare, and seeking $1,841,537.01 in damages, plus interests, costs and attorney fees. The Company intends to vigorously defend itself in this matter. 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Innovative MedTech, Inc. Date: April 22, 2024 By: /s/ Michael Jordan Friedman Michael Jordan Friedman Chief Executive Officer 3