Business Context and Reporting Period
This Form 8-K is a current report filed by cbdMD, Inc. on August 13, 2021. The company is incorporated in North Carolina and is designated as an emerging growth company. The report specifically addresses a corporate action regarding its preferred stock.
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: September 1, 2021.
- Payment Date: September 15, 2021.
Material Changes
The material event reported is the declaration of a monthly cash dividend for the Series A Convertible Preferred Stock. No other material changes to operations, assets, or liabilities are disclosed in this specific filing.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or discussion of risks and contingencies beyond the standard disclosure of the dividend obligation.
Investor Verification Checklist
- Verify the 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 liquidity position to ensure it can meet the September 15, 2021 payment obligation.
- Review the terms of the Series A Convertible Preferred Stock to understand conversion rights and cumulative dividend accruals.