cbdMD, Inc. Files 8-K/A Amendment on Delisting Concerns
Ticker: YCBD · Form: 8-K/A · Filed: Aug 30, 2024 · CIK: 1644903
| Field | Detail |
|---|---|
| Company | Cbdmd, Inc. (YCBD) |
| Form Type | 8-K/A |
| Filed Date | Aug 30, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $3.1 million, $4 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: delisting, amendment, listing-standards
TL;DR
cbdMD's 8-K/A filing flags delisting concerns, potentially impacting stock trading.
AI Summary
cbdMD, Inc. filed an amendment (8-K/A) on August 30, 2024, to its report originally dated August 20, 2024. This amendment addresses the company's notice of delisting or failure to satisfy continued listing rules and includes financial statements and exhibits. The company, formerly known as Level Brands, Inc., is incorporated in North Carolina and operates in the cosmetics and toiletries sector.
Why It Matters
This filing indicates potential issues with cbdMD, Inc.'s continued listing on an exchange, which could impact its stock's liquidity and investor confidence.
Risk Assessment
Risk Level: medium — The filing directly addresses potential delisting, which poses a significant risk to the company's stock and operations.
Key Players & Entities
- cbdMD, Inc. (company) — Registrant
- August 20, 2024 (date) — Original report date
- August 30, 2024 (date) — Amendment filing date
- Level Brands, Inc. (company) — Former company name
- North Carolina (location) — State of incorporation
FAQ
What is the primary reason for filing this 8-K/A amendment?
The amendment is filed to provide a notice of delisting or failure to satisfy a continued listing rule or standard, and to include financial statements and exhibits.
When was the original report filed, and when was this amendment filed?
The original report was dated August 20, 2024, and this amendment (8-K/A) was filed on August 30, 2024.
What was cbdMD, Inc.'s former company name?
cbdMD, Inc. was formerly known as Level Brands, Inc.
In which state is cbdMD, Inc. incorporated?
cbdMD, Inc. is incorporated in North Carolina.
What is the Standard Industrial Classification code for cbdMD, Inc.?
The SIC code for cbdMD, Inc. is 2844, which corresponds to Perfumes, Cosmetics & Other Toilet Preparations.
Filing Stats: 836 words · 3 min read · ~3 pages · Grade level 11.6 · Accepted 2024-08-30 16:06:30
Key Financial Figures
- $3.1 million — ompany") had a stockholders' deficit of $3.1 million as of March 31, 2024 when it should hav
- $4 million — company to have stockholders' equity of $4 million or more if the listed company has repor
Filing Documents
- ycbd20240830_8ka.htm (8-K/A) — 28KB
- 0001437749-24-028132.txt ( ) — 177KB
- ycbd-20240820.xsd (EX-101.SCH) — 4KB
- ycbd-20240820_def.xml (EX-101.DEF) — 13KB
- ycbd-20240820_lab.xml (EX-101.LAB) — 18KB
- ycbd-20240820_pre.xml (EX-101.PRE) — 14KB
- ycbd20240830_8ka_htm.xml (XML) — 5KB
01 Notice Of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice Of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On August 20, 2024, the Company received notice from the NYSE American LLC ("NYSE American") that it had accepted the Company's plan to regain compliance with the NYSE American continued listing standards and granted a plan period through December 5, 2025 ("Deadline Date"). As previously disclosed on June 5, 2024, the Company received a letter from the NYSE American LLC stating that the Company was not in compliance with the continued listing standards set forth in Sections 1003(a)(ii) of the NYSE American Company Guide. Section 1003(a)(ii) requires a listed company to have stockholders' equity of $4 million or more if the listed company has reported losses from continuing operations and/or net losses in three of its four most recent fiscal years. The Company reported a stockholders' equity of $3.1 million as of March 31, 2024, and has had losses from continuing operations and/or net losses in three of its four most recent fiscal years ended September 30, 2023. During the plan period, the Company will be subject to quarterly review to determine if it is making progress consistent with the plan. If the Company does not regain compliance with the NYSE American listing standards by the Deadline Date, or if the Company does not make sufficient progress consistent with its plan, then the NYSE American may initiate delisting proceedings. The Company's preferred stock and common stock will continue to be listed on the NYSE American during the plan period pursuant to an extension. The Company's receipt of such notification from the NYSE American does not affect the Company's business, operations or reporting requirements with the U.S. Securities and Exchange Commission. The Company can provide no assurances that it will be able to make progress with respect to its plan that NYSE American will determine to be satisfactory, that it will regain compliance with Se
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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. cbdMD, Inc. Date: August 30, 2024 By: /s/ T. Ronan Kennedy Name: T. Ronan Kennedy Title: Chief Executive Officer and Chief Financial Officer