Business Context and Reporting Period
Company: Wireless Ronin Technologies, Inc. (Note: Metadata listed "Creative Realities, Inc." but the filing text identifies the registrant as Wireless Ronin Technologies, Inc.)
Filing Type: Form 8-K (Current Report)
Date: March 8, 2013
Event: Completion of a private placement of securities pursuant to a shelf registration statement.
Key Financial Metrics
- Securities Issued: 868,000 units.
- Unit Composition: One share of common stock and one five-year warrant to purchase 0.50 of a share.
- Price per Unit: $1.80.
- Warrant Exercise Price: $2.73 per share.
- Warrant Exercisability: Commences six months and one day after issuance.
- Net Proceeds: Approximately $1.3 million (after placement agent fees and expenses).
- Use of Proceeds: General corporate purposes, including working capital.
- Revenue/Profit/Debt: The filing text does not provide a clear value for revenue, profit, cash flow, margins, or debt levels.
Material Changes
This filing reports a discrete capital raise event rather than a comparative period financial change. The issuance was executed under a shelf registration statement (File No. 333-185885) declared effective on January 31, 2013, following subscription agreements reported on March 5, 2013.
Outlook, Risks, and Management Commentary
Management Commentary: The company intends to utilize the net proceeds for general corporate purposes and working capital.
Risks/Contingencies: The filing text does not explicitly detail new risks or contingencies beyond the standard terms of the warrant issuance.
Investor Verification Checklist
- Verify the exact number of shares outstanding post-issuance (868,000 new shares plus potential warrant dilution).
- Confirm the specific allocation of the $1.3 million net proceeds within the company's cash flow statement in subsequent filings.
- Review the March 5, 2013 Form 8-K for details on the subscription agreements referenced.
- Monitor the warrant exercise window starting approximately September 2013.