Business Context and Reporting Period
This Form 8-K is filed by KSIX Media Holdings, Inc. (formerly North American Energy Resources, Inc.), a Nevada corporation, on July 22, 2015. The report covers corporate governance changes, a name change, and the status of a pending asset acquisition.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The report focuses on regulatory compliance regarding the acquisition of KSIX Media, Inc., noting that required financial statements and pro forma information will be filed by August 4, 2015.
Material Changes
- Corporate Name Change: The company changed its name from North American Energy Resources, Inc. to KSIX Media Holdings, Inc., effective June 30, 2015, with the amendment filed with the Nevada Secretary of State.
- Ticker Symbol Request: The company requested a new ticker symbol, "KSIX," from FINRA, anticipating approval between July 27 and August 1, 2015.
- Acquisition Status: The company is in the process of acquiring KSIX Media, Inc. The filing of required financial statements is delayed beyond the standard 71-day requirement due to preparation difficulties.
- Board Departure: Dr. Allan Rosenthal resigned as a director effective July 22, 2015, citing personal family reasons with no disagreements with the registrant.
Outlook, Risks, and Management Commentary
Management anticipates the completion of the name change and ticker symbol issuance by the week of August 1, 2015. The primary risk noted is the delay in filing the acquisition's financial statements and pro forma information, which is attributed to difficulties in preparation. No specific guidance or unusual items were disclosed in this report.
Investor Verification Checklist
- Verify the filing of the required financial statements and pro forma information for the KSIX Media, Inc. acquisition by the August 4, 2015 deadline.
- Confirm the approval of the new ticker symbol "KSIX" by FINRA.
- Review the upcoming Form 10-like Registration Statement for details on the acquisition terms.
- Monitor for the appointment of a new director to replace Dr. Allan Rosenthal.