Moving iMAGE Technologies Signs Material Definitive Agreement
Ticker: MITQ · Form: 8-K · Filed: Mar 5, 2024 · CIK: 1770236
Sentiment: neutral
Topics: material-agreement
Related Tickers: MITQ
TL;DR
MITQ signed a big deal, details TBD.
AI Summary
Moving iMAGE Technologies, Inc. (MITQ) entered into a material definitive agreement on February 28, 2024. The filing does not disclose the specific details of this agreement, only that it is a significant event requiring an 8-K filing.
Why It Matters
This filing indicates a significant new contract or partnership for Moving iMAGE Technologies, which could impact its future revenue and operations.
Risk Assessment
Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and impact of the agreement.
Key Players & Entities
- MOVING iMAGE TECHNOLOGIES, INC. (company) — Registrant
- February 28, 2024 (date) — Date of earliest event reported
- 001-40511 (other) — Commission File Number
- 17760 Newhope Street, Fountain Valley, CA 92708 (address) — Principal Executive Offices
FAQ
What is the nature of the material definitive agreement entered into by Moving iMAGE Technologies?
The filing does not specify the details of the material definitive agreement, only that one was entered into on February 28, 2024.
What is the company's stock ticker symbol?
The company's stock ticker symbol is MITQ, as indicated by the filing's context and common SEC filing practices for publicly traded companies.
Where is Moving iMAGE Technologies, Inc. headquartered?
Moving iMAGE TECHNOLOGIES, INC. is headquartered at 17760 Newhope Street, Fountain Valley, CA 92708.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on February 28, 2024.
What is the company's state of incorporation?
The company is incorporated in Delaware.
Filing Stats: 460 words · 2 min read · ~2 pages · Grade level 10.4 · Accepted 2024-03-05 14:37:23
Key Financial Figures
- $0.00001 — nge on which registered Common Stock, $0.00001 par value MITQ NYSE American LLC
- $0.667 — 86 shares of common stock at a price of $0.667 per share (based on the closing stock p
- $33,073 — as of February 27, 2024) for a total of $33,073.35, which amount represents satisfactio
- $25,036.52 — epresents satisfaction of Mr. Delgado's $25,036.52 outstanding obligation to the Company p
- $8,036.83 — gation to the Company plus an estimated $8,036.83 in federal and California state income
Filing Documents
- mitq-20240228x8k.htm (8-K) — 33KB
- 0001770236-24-000009.txt ( ) — 150KB
- mitq-20240228.xsd (EX-101.SCH) — 3KB
- mitq-20240228_lab.xml (EX-101.LAB) — 16KB
- mitq-20240228_pre.xml (EX-101.PRE) — 10KB
- mitq-20240228x8k_htm.xml (XML) — 5KB
01
Item 1.01 Other Events On February 28, 2024, Moving iMage Technologies, Inc. (the "Company") and Joe Delgado, Executive Vice President of Sales ("Joe Delgado") agreed to sell 49,586 shares of common stock at a price of $0.667 per share (based on the closing stock price as of February 27, 2024) for a total of $33,073.35, which amount represents satisfaction of Mr. Delgado's $25,036.52 outstanding obligation to the Company plus an estimated $8,036.83 in federal and California state income taxes incurred in connection with the sale. The $8,036.83 amount will be deposited in Mr. Delgado's payroll tax withholding accounts with the Company. Upon purchase, the shares will be cancelled by the Company.
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 hereunto duly authorized. Moving iMage Technologies, Inc. Date: March 5, 2024 By: /s/ William Greene Name: William Greene Title: Chief Financial Officer