Business Context and Reporting Period
This Form 8-K Current Report was filed by cbdMD, Inc. on January 5, 2022. The company is incorporated in North Carolina and trades on the NYSE American under the symbols YCBD (Common Stock) and YCBD PR A (8% Series A Cumulative Convertible Preferred Stock). The registrant is classified as an emerging growth company.
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 changes rather than financial performance.
Material Changes
The primary material change reported is the departure of a director:
- Resignation: Sim Farar resigned from the Board of Directors effective immediately on January 5, 2022.
- Reason: Mr. Farar stated he is resigning to focus on new and existing opportunities.
- Disagreement Status: The company confirmed the resignation was not the result of any disagreement regarding operations, policies, or practices.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies beyond the standard disclosure regarding the director's departure.
Investor Verification Checklist
- Verify the current composition of the Board of Directors following Sim Farar's resignation.
- Check for any subsequent filings regarding the appointment of a replacement director.
- Review the company's most recent 10-K or 10-Q for financial metrics not included in this 8-K.