Business Context and Reporting Period
This Form 8-K Current Report was filed by Ra Medical Systems, Inc. (not Catheter Precision, Inc.) on August 10, 2022. The registrant is a Delaware corporation with principal executive offices in Carlsbad, California, and its common stock trades on the NYSE American under the symbol RMED. The report details an amendment to a consulting agreement with the interim Chief Financial Officer.
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 executive compensation adjustments rather than financial performance results.
Material Changes
The primary material change reported is the amendment to the letter agreement with Brian Conn, the interim Chief Financial Officer, effective July 27, 2022:
- Term Extension: The agreement term was extended for twelve months from June 27, 2022, with provisions for successive one-month renewals if mutually agreed in writing.
- Compensation Increase: Monthly cash compensation increased from $10,000 to $20,000.
- Workload Adjustment: Required service hours increased from ten to fifteen hours per week to twenty to thirty hours per week.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on business outlook, or discussion of specific risks and contingencies beyond the standard legal qualifications regarding the consulting agreement. No unusual items were reported.
Investor Verification Checklist
- Verify the full text of the Amendment to the Letter Agreement filed as Exhibit 10.1.
- Confirm the current status of the interim CFO role and whether a permanent CFO has been appointed.
- Review subsequent filings for any financial impact of the increased executive compensation.