Business Context and Reporting Period
This Form 8-K is a current report filed by Sacks Parente Golf, Inc. (trading as Newton Golf Company, Inc.) on August 23, 2024. The filing addresses a material change in executive leadership under Item 5.02.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial statements.
Material Changes
Effective August 23, 2024, Steve Handy resigned as the Chief Financial Officer (CFO) of the Company. Mr. Handy is departing to assume the position of CFO at RDE, Inc. (Nasdaq: RSTN). The Company states that the resignation was not the result of any disagreement with the Company.
Outlook and Management Commentary
Management confirms that the Company is actively searching for a replacement for Mr. Handy and is currently interviewing candidates. No specific guidance, risks, or contingencies related to financial performance were disclosed in this filing.
Investor Verification Checklist
- Verify the timeline for the appointment of a new Chief Financial Officer.
- Confirm whether the departure of the CFO impacts the timing or content of upcoming financial reports.
- Review the Company's internal controls over financial reporting to ensure continuity during the transition.