Business Context and Reporting Period
This Form 8-K Current Report was filed by cbdMD, Inc. on March 16, 2023. The company is incorporated in North Carolina and is designated as an emerging growth company. The filing addresses a specific corporate event regarding its preferred stockholders.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, or debt metrics. The only specific financial data disclosed relates to a dividend declaration:
- Dividend Amount: $0.0667 per share.
- Security: 8.0% Series A Cumulative Convertible Preferred Stock.
- Record Date: April 3, 2023.
- Payment Date: April 17, 2023.
Material Changes
The filing reports the declaration of a monthly cash dividend. No material changes to the company's financial position, operations, or capital structure other than this dividend obligation are disclosed in this document.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or discussion of risks and contingencies. The document is strictly a notification of the dividend event under Item 8.01 (Other Events).
Investor Verification Checklist
- Verify the total number of outstanding shares of 8.0% Series A Cumulative Convertible Preferred Stock to calculate the total cash outflow for the dividend.
- Confirm the company's current cash position in its most recent 10-Q or 10-K to assess liquidity for the April 17, 2023 payment.
- Review the terms of the Series A Convertible Preferred Stock to understand conversion rights and cumulative dividend accruals.