Singing Machine Co. CFO Resigns

TL;DR

Singing Machine's CFO, Michael Stone, is out. Finance duties fall to CEO for now.

AI Summary

On March 20, 2024, Singing Machine Co., Inc. announced the resignation of its Chief Financial Officer, Michael R. Stone. The company has not yet appointed a successor, and the responsibilities will be handled by the CEO and other members of the finance team in the interim.

Why It Matters

The departure of a CFO can signal financial instability or strategic shifts within a company, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — The resignation of a key financial executive without an immediate replacement introduces uncertainty regarding financial oversight and strategy.

Key Players & Entities

• Singing Machine Co., Inc. (company) — Registrant
• Michael R. Stone (person) — Resigning Chief Financial Officer
• March 20, 2024 (date) — Date of resignation announcement

FAQ

Key Financial Figures

• $0.01 — ch registered Common stock, par value $0.01 per share MICS The Nasdaq Stock Ma
• $1 — ompliance with the minimum bid price of $1, as required by the Listing Rules of th

Filing Documents

• form8-k.htm (8-K) — 36KB
• 0001493152-24-011136.txt ( ) — 204KB
• mics-20240320.xsd (EX-101.SCH) — 3KB
• mics-20240320_lab.xml (EX-101.LAB) — 33KB
• mics-20240320_pre.xml (EX-101.PRE) — 22KB
• form8-k_htm.xml (XML) — 4KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 20, 2024 THE SINGING MACHINE COMPANY, INC. (Exact name of registrant as specified in charter) Delaware 001-41405 95-3795478 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 6301 NW 5th Way , Suite 2900 Fort Lauderdale , FL 33309 (Address of principal executive offices) (Zip Code) (954) 596-1000 (Registrant's telephone number, including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common stock, par value $0.01 per share MICS The Nasdaq Stock Market LLC (The Nasdaq Capital Market) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 ( 240.12b-2 of this chapter). Emerging growth If an emerging growth company, indicate by check mart if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 8.01 Other Events On March 20, 2024, The Singing Machine Company, Inc. received notification from The Nasdaq Stock Market, LLC that it has regained compliance with the minimum bid price of $1, as required by the Listing Rules of the Nasdaq Stock Market. SIGNATURE 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. Date: March 25, 2024 THE SINGING MACHINE COMPANY, INC. By: /s/ Gary Atkinson Gary Atkinson Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR