SEC Filing Summary: Genius Brands International, Inc. (GNUS)
Business Context and Reporting Period
This Form 8-K was filed by Genius Brands International, Inc. on September 6, 2019, reporting an event that occurred on September 4, 2019. The Company is incorporated in Nevada and its common stock trades on The Nasdaq Capital Market under the symbol "GNUS".
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on a regulatory compliance matter regarding the Company's stock price.
Material Changes and Events
On September 4, 2019, the Company received a notification from The Nasdaq Stock Market regarding a failure to meet the minimum bid price requirement for continued listing.
- Trigger Event: The closing bid price of the Company's common stock was below $1.00 per share for 30 consecutive business days.
- Regulation: This violates Nasdaq Listing Rule 5550(a)(2).
- Immediate Impact: The notice has no immediate effect on the Company's listing or the trading of its common stock.
Outlook, Risks, and Compliance Timeline
Under Nasdaq Listing Rule 5810(c)(3)(A), the Company has been granted a 180-calendar day compliance period, extending until March 2, 2020.
- Compliance Requirement: To regain compliance, the closing bid price must be at least $1.00 per share for a minimum of ten consecutive business days within the 180-day window.
- Contingencies: If the Company fails to regain compliance by March 2, 2020, it may be eligible for additional time or may request a hearing before a Hearings Panel. Failure to resolve the issue could result in delisting.
Key Facts for Investor Verification
- Verify the current trading price of GNUS to assess the likelihood of meeting the $1.00 bid price requirement.
- Monitor the Company's stock price performance over the next 180 days to ensure it meets the 10-day consecutive compliance threshold.
- Check for any future 8-K filings regarding the Company's status with Nasdaq or potential reverse stock splits to address the low bid price.
- Note that this filing contains no financial performance data; investors should refer to the most recent 10-Q or 10-K for financial metrics.