SEC Filing Summary: Mill City Ventures III, Ltd. (Form 8-K)
Business Context and Reporting Period
This Current Report (Form 8-K) was filed on January 17, 2013, by Mill City Ventures III, Ltd. (formerly Poker Magic, Inc.). The filing documents a corporate name change and a strategic shift in business classification. The company is incorporated in Minnesota and trades on the over-the-counter bulletin board.
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 corporate governance changes and does not contain financial statements or performance data.
Material Changes
- Name Change: The company officially changed its name from "Poker Magic, Inc." to "Mill City Ventures III, Ltd." via Amended and Restated Articles of Incorporation filed with the Minnesota Secretary of State on January 17, 2013.
- Trading Symbol: Effective January 22, 2013, the company's trading symbol changed from "POKR" to "MCVT".
- Strategic Direction: The company announced plans to elect to become a business development company (BDC) under the Investment Company Act of 1940.
Outlook and Management Commentary
Management indicated a strategic pivot toward operating as a business development company. A press release issued on January 23, 2013, detailed the symbol change and the intent to make the BDC election. No specific financial guidance, risk factors, or contingencies were disclosed in this filing.
Key Facts for Investor Verification
- Verify the new ticker symbol "MCVT" on the over-the-counter bulletin board.
- Confirm the status of the election to become a business development company under the Investment Company Act of 1940.
- Review the attached Amended and Restated Articles of Incorporation (Exhibit 3.1) for details on capital structure changes.
- Check subsequent filings for the first financial report reflecting the new business model.