NetBrands Corp. Reports Unregistered Equity Sales
Ticker: NBND · Form: 8-K · Filed: Aug 30, 2024 · CIK: 1725911
| Field | Detail |
|---|---|
| Company | Netbrands CORP. (NBND) |
| Form Type | 8-K |
| Filed Date | Aug 30, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $178,729, $0.072 |
| Sentiment | neutral |
Sentiment: neutral
Topics: unregistered-sales, equity-securities, sec-filing
TL;DR
NetBrands sold unregistered equity, potentially diluting existing shares.
AI Summary
NetBrands Corp. filed an 8-K on August 30, 2024, reporting unregistered sales of equity securities on August 29, 2024. The filing details the company's principal executive offices located at 4042 Austin Boulevard, Suite B, Island Park, New York.
Why It Matters
This filing indicates potential dilution for existing shareholders as new equity securities were issued without prior registration.
Risk Assessment
Risk Level: medium — Unregistered sales can signal financial distress or a need for capital, potentially leading to dilution and increased risk for current investors.
Key Players & Entities
- NetBrands Corp. (company) — Registrant
- August 29, 2024 (date) — Date of earliest event reported
- August 30, 2024 (date) — Filing date
- 4042 Austin Boulevard, Suite B, Island Park, New York 11558 (location) — Principal executive offices
FAQ
What type of securities were sold in the unregistered offering?
The filing states 'Unregistered Sales of Equity Securities' but does not specify the exact type of equity.
Were these sales to accredited investors?
The filing does not specify the nature of the purchasers, only that the sales were unregistered.
What is the total number of shares sold and the price per share?
This information is not detailed in the provided excerpt of the 8-K filing.
Why did NetBrands Corp. opt for an unregistered sale of equity securities?
The filing does not provide a reason for the unregistered sale.
What is the company's primary business activity?
The company is classified under 'BAKERY PRODUCTS [2050]' according to its SIC code.
Filing Stats: 407 words · 2 min read · ~1 pages · Grade level 10.9 · Accepted 2024-08-30 08:30:39
Key Financial Figures
- $178,729 — balances and accrued interest totaling $178,729 due to Paul Adler, its Chairman and CEO
- $0.072 — Common Stock, at a conversion price of $0.072 per share, which was equivalent to the
Filing Documents
- form8-k.htm (8-K) — 34KB
- 0001493152-24-034481.txt ( ) — 200KB
- nbnd-20240829.xsd (EX-101.SCH) — 3KB
- nbnd-20240829_lab.xml (EX-101.LAB) — 33KB
- nbnd-20240829_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 3KB
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. NETBRANDS CORP. Date: August 30, 2024 By: /s/ Paul Adler Paul Adler President