Mill City Ventures III Files 8-K
Ticker: SUIG · Form: 8-K · Filed: Jan 7, 2025 · CIK: 1425355
| Field | Detail |
|---|---|
| Company | Mill City Ventures III, Ltd (SUIG) |
| Form Type | 8-K |
| Filed Date | Jan 7, 2025 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $10 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: 8-K, material-agreement, corporate-action
TL;DR
MCVT filed an 8-K on Jan 7, 2025, covering material agreements and shareholder votes.
AI Summary
Mill City Ventures III, Ltd. filed an 8-K on January 7, 2025, reporting on a material definitive agreement, submission of matters to a vote of security holders, and financial statements/exhibits. The company, formerly known as Poker Magic Inc., is based in Wayzata, MN.
Why It Matters
This filing indicates significant corporate actions and financial reporting by Mill City Ventures III, Ltd., which could impact investors and stakeholders.
Risk Assessment
Risk Level: low — The filing is a standard 8-K reporting routine corporate events and does not appear to contain immediately concerning financial or operational news.
Key Numbers
- 001-41472 — SEC File Number (Identifies the company's filing history with the SEC.)
- 90-0316651 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- Mill City Ventures III, Ltd. (company) — Registrant
- Poker Magic Inc. (company) — Former company name
- January 7, 2025 (date) — Date of report
- Wayzata, MN (location) — Principal executive offices
FAQ
What specific material definitive agreement was entered into by Mill City Ventures III, Ltd.?
The filing does not specify the details of the material definitive agreement, only that one was entered into.
What matters were submitted to a vote of security holders?
The filing does not provide details on the specific matters submitted for a vote by security holders.
What financial statements and exhibits are included with this 8-K filing?
The filing indicates that financial statements and exhibits are included, but their specific content is not detailed in the provided text.
When did Mill City Ventures III, Ltd. change its name from Poker Magic Inc.?
The date of the name change from Poker Magic Inc. to Mill City Ventures III, Ltd. was January 29, 2008.
What is the primary business of Mill City Ventures III, Ltd. according to its SIC code?
The Standard Industrial Classification (SIC) code 6153 indicates the company operates in Short-Term Business Credit Institutions.
Filing Stats: 618 words · 2 min read · ~2 pages · Grade level 9.8 · Accepted 2025-01-07 17:20:16
Key Financial Figures
- $10 million — h Short-Term Loan Agreement and related $10 million principal amount Fourth Short-Term Prom
Filing Documents
- mcvt_8k.htm (8-K) — 35KB
- mcvt_ex101.htm (EX-10.1) — 6KB
- 0001654954-25-000180.txt ( ) — 155KB
- mcvt-20250107.xsd (EX-101.SCH) — 6KB
- mcvt-20250107_lab.xml (EX-101.LAB) — 13KB
- mcvt-20250107_cal.xml (EX-101.CAL) — 1KB
- mcvt-20250107_pre.xml (EX-101.PRE) — 8KB
- mcvt-20250107_def.xml (EX-101.DEF) — 2KB
- mcvt_8k_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. Effective January 7, 2025, Mill City Ventures III, Ltd. and Mustang Funding, LLC entered into an amendment to their Fourth Short-Term Loan Agreement and related $10 million principal amount Fourth Short-Term Promissory Note, dated September 29, 2023 (as earlier amended on April 29, 2024, November 18, 2024 and December 18, 2024). The new amendment extends the stated maturity date of the loan and note to January 21, 2025. A copy of the amendment is being filed as an exhibit to this report.
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders . On December 19, 2024, Mill City Ventures III, Ltd. held its 2024 annual meeting of shareholders. At that meeting, the final voting results for the proposal to elect five members to the Board of Directors to serve for a one-year term were as follows: Name For Against Abstain Broker Non-Votes Lyle A. Berman 3,194,378 0 9,734 0 Joseph A. Geraci, II 3,194,428 0 9,684 0 Howard P. Liszt 3,191,167 0 12,945 0 Douglas M. Polinsky 3,198,037 0 6,075 0 Laurence S. Zipkin 3,194,378 0 9,734 0 Mill City Ventures III, Ltd. prepared and provided instructions to file a current report detailing the above-indicated voting results on December 20, 2024 (and notified Nasdaq of the same), but a miscommunication with the company's financial printer prevented the filing from being submitted.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Ex. No. Description 10.1 Amendment No. 4 to Short-Term Loan Agreement and Short-Term Promissory Note, between Mill City Ventures III, Ltd., and Mustang Funding, LLC, dated effective January 7, 2025 2 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. MILL CITY VENTURES III, LTD. Date: January 7, 2025 By: /s/ Joseph A. Geraci, II Joseph A. Geraci, II Chief Financial Officer 3 EXHIBIT INDEX Exhibit No. Description 10.1 Amendment No. 4 to Short-Term Loan Agreement and Short-Term Promissory Note, between Mill City Ventures III, Ltd., and Mustang Funding, LLC, dated effective January 7, 2025 (filed herewith) 4