Business Context and Reporting Period
This Form 8-K was filed by Sacks Parente Golf, Inc. (trading symbol: SPGC) on March 11, 2025. The filing reports a corporate restructuring event involving a name change to Newton Golf Company, Inc. and the implementation of a 1-for-30 reverse stock split.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and capital structure adjustments rather than financial performance results.
Material Changes
- Corporate Name Change: The registrant is changing its name from Sacks Parente Golf, Inc. to Newton Golf Company, Inc.
- Reverse Stock Split: A 1-for-30 reverse stock split has been announced, which will reduce the number of outstanding shares and increase the per-share price proportionally.
Guidance, Outlook, and Risks
The filing does not contain management commentary on future guidance, operational outlook, specific risks, or contingencies. The document serves solely to disclose the name change and stock split details via Exhibit 99.1.
Investor Verification Checklist
- Verify the effective date of the 1-for-30 reverse stock split and the record date for shareholders.
- Confirm the new ticker symbol and trading status on The Nasdaq Stock Market following the name change to Newton Golf Company, Inc.
- Review the full text of Exhibit 99.1 for details on the rationale behind the restructuring and any potential impact on shareholder value.