Business Context and Reporting Period
This Form 8-K is a current report filed by KBL Merger Corp. IV (not Forum Markets Inc.) on December 27, 2018, regarding events occurring on December 21, 2018. The registrant is a Delaware corporation and an emerging growth company. The report details the results of the 2018 annual meeting of stockholders.
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 corporate governance and voting results rather than financial performance.
Material Changes and Voting Results
The primary material event reported is the conclusion of the annual stockholder meeting with the following outcomes:
- Election of Directors: Stockholders re-elected Andrew Sherman and Sherrill Neff as Class I directors.
- Ratification of Auditors: Stockholders ratified the selection of WithumSmith+Brown, PC as the independent registered public accounting firm for the year ending December 31, 2018.
| Proposal | For | Against/Withheld | Abstain/Non-Vote |
|---|---|---|---|
| Election of Andrew Sherman | 6,909,654 | 54,980 (Withheld) | 2,198,684 (Broker Non-Vote) |
| Election of Sherrill Neff | 6,349,654 | 614,980 (Withheld) | 2,198,684 (Broker Non-Vote) |
| Ratification of Auditor | 9,108,338 | 54,980 (Against) | 0 (Abstain) |
Guidance, Outlook, and Risks
The filing text does not provide a clear value for financial guidance, future outlook, management commentary on operations, specific risks, contingencies, or unusual items. The document is limited to the procedural results of the shareholder vote.
Important Facts for Investors to Verify
- Confirm the correct registrant name is KBL Merger Corp. IV, as the input metadata referenced "Forum Markets Inc."
- Verify the significant number of broker non-votes (2,198,684) on the director election proposals, indicating shares held in street name where brokers lacked discretionary voting power.
- Note that the company is classified as an emerging growth company.
- Check subsequent filings for the company's business combination status, as "Merger Corp" entities typically seek a target acquisition.