cbdMD, Inc. Files 8-K Report
Ticker: YCBD · Form: 8-K · Filed: Aug 15, 2024 · CIK: 1644903
| Field | Detail |
|---|---|
| Company | Cbdmd, Inc. (YCBD) |
| Form Type | 8-K |
| Filed Date | Aug 15, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $255,000, $550,000, $230,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 8-K, corporate-filing, administrative
TL;DR
cbdMD filed an 8-K, looks like standard corporate housekeeping, no major news.
AI Summary
On August 15, 2024, cbdMD, Inc. filed an 8-K report detailing an "Other Event." The filing does not contain specific financial figures or significant business changes, but rather administrative and procedural information related to its corporate status.
Why It Matters
This filing indicates routine corporate activity for cbdMD, Inc., without disclosing immediate material changes to its business operations or financial standing.
Risk Assessment
Risk Level: low — The filing is an 8-K reporting an 'Other Event' which typically signifies routine corporate disclosures rather than significant financial or operational shifts.
Key Players & Entities
- cbdMD, Inc. (company) — Registrant
- August 15, 2024 (date) — Date of Report
- Level Brands, Inc. (company) — Former Company Name
- LEVEL BEAUTY GROUP, INC. (company) — Former Company Name
FAQ
What is the primary purpose of this 8-K filing for cbdMD, Inc.?
The primary purpose of this 8-K filing is to report an 'Other Event' as of August 15, 2024, which typically covers miscellaneous corporate disclosures.
What was cbdMD, Inc.'s former company name?
cbdMD, Inc. was formerly known as Level Brands, Inc. and LEVEL BEAUTY GROUP, INC.
In which state is cbdMD, Inc. incorporated?
cbdMD, Inc. is incorporated in North Carolina.
What is the fiscal year end for cbdMD, Inc.?
The fiscal year end for cbdMD, Inc. is September 30 (0930).
Does this filing disclose any specific financial transactions or material business changes?
No, this filing is categorized under 'Other Events' and does not appear to disclose specific financial transactions or material business changes; it seems to be a procedural or administrative update.
Filing Stats: 549 words · 2 min read · ~2 pages · Grade level 12.1 · Accepted 2024-08-15 17:05:15
Key Financial Figures
- $255,000 — t. On August 15, 2024 made a payment of $255,000 (the "Payment") to satisfy all past due
- $550,000 — ny anticipates realizing an approximate $550,000 gain on the settlement of accrued past
- $230,000 — ain will help to offset the approximate $230,000 non-cash expense that resulted from the
Filing Documents
- ycbd20240815_8k.htm (8-K) — 24KB
- a01.jpg (GRAPHIC) — 3KB
- 0001437749-24-027041.txt ( ) — 177KB
- ycbd-20240815.xsd (EX-101.SCH) — 4KB
- ycbd-20240815_def.xml (EX-101.DEF) — 13KB
- ycbd-20240815_lab.xml (EX-101.LAB) — 17KB
- ycbd-20240815_pre.xml (EX-101.PRE) — 13KB
- ycbd20240815_8k_htm.xml (XML) — 5KB
01 Other Events
Item 8.01 Other Events. As previously disclosed by cbdMD, Inc. (the "Company"), in March 2024 the Company and its former executive offices landlord ("Landlord") entered into a License Agreement and a Lease Forbearance Agreement (the "Forbearance Agreement") to terminate the lease of the Company's former executive offices (the "Former Facilities Lease"). The Company has satisfied all payment requirements under the Forbearance Agreement and License Agreement. On August 15, 2024 made a payment of $255,000 (the "Payment") to satisfy all past due payments and amounts under the Former Facilities Lease. The Company and Landlord entered into a mutual release and settlement agreement and the Company has no obligations (payments or otherwise) owed to Landlord under any of the agreements described in this current report on Form 8-K. As a result of the Payment, the Company anticipates realizing an approximate $550,000 gain on the settlement of accrued past due rent, interest and penalties. This gain will help to offset the approximate $230,000 non-cash expense that resulted from the elimination of the right of use asset and the right of use liability under the termination of the original lease.
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 15, 2024 By: /s/ T. Ronan Kennedy T. Ronan Kennedy, Chief Executive Officer and Chief Financial Officer