Business Context and Reporting Period
This Form 8-K was filed by Retractable Technologies, Inc. on January 13, 2017, reporting events that occurred on January 12, 2017. The company is incorporated in Texas and is headquartered in Little Elm, Texas.
Key Financial Metrics
The filing details a specific capital transaction rather than periodic financial performance metrics such as revenue, profit, or cash flow.
- Transaction Type: Issuance and sale of Common Stock.
- Shares Issued: 2,000,000 shares.
- Purchase Price: $0.89 per share.
- Total Consideration: $1.78 million.
- Buyer: Thomas J. Shaw (Founder, President, CEO, and majority shareholder).
Material Changes
The primary material change reported is the entry into a Material Definitive Agreement and the unregistered sale of equity securities. The company issued 2 million shares to its CEO, Thomas J. Shaw, pursuant to a Purchase Agreement dated January 12, 2017. The filing text does not provide comparative financial data or changes in operating metrics versus prior periods.
Guidance, Outlook, and Risks
The filing does not contain management guidance, future outlook, or specific risk factors beyond the standard disclosure regarding the securities offering. The shares were sold pursuant to an exemption from registration under Section 4(a)(2) of the Securities Act of 1933 and Rule 506(b). The filing incorporates the full Purchase Agreement as Exhibit 10.1 for complete terms.
Investor Verification Checklist
- Verify the terms of the Purchase Agreement attached as Exhibit 10.1.
- Confirm the updated share count and ownership percentage of Thomas J. Shaw following this issuance.
- Review the company's most recent 10-K or 10-Q for baseline financial performance, as this 8-K does not contain revenue or earnings data.
- Check for any subsequent filings regarding the use of the $1.78 million proceeds.