Business Context and Reporting Period
This Form 8-K was filed by Second Sight Medical Products, Inc. (not Vivani Medical, Inc.) on June 21, 2018, reporting events occurring on June 18, 2018. The company is a California corporation developing visual prosthetics.
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 a corporate governance event rather than financial performance.
Material Changes
The material change reported is the execution of a new consulting agreement with Dr. Robert J. Greenberg, a former Chief Executive Officer and Chairman of the Board.
Outlook, Risks, and Management Commentary
- Agreement Details: Dr. Greenberg will provide consulting and advisory services regarding the design and clinical studies of the company's visual prosthetics.
- Term: The agreement extends through April 2, 2019.
- Termination: Either party may terminate the agreement at any time with seven days' written notice.
- Risks/Contingencies: The filing does not disclose specific financial risks or contingencies beyond the standard terms of the consulting contract.
Investor Verification Checklist
- Verify the company name is Second Sight Medical Products, Inc., not Vivani Medical, Inc.
- Review the attached Exhibit 99.1 for specific compensation terms not detailed in the summary.
- Confirm the status of the visual prosthetics clinical studies mentioned in the agreement.
- Check subsequent filings for any early termination of the consulting agreement.