Axil Brands Inc
For the period ended Aug 31, 2024. Filed Oct 10, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Aug 31, 2024 · Filed Oct 10, 2024
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2024-02-29; filed 2024-04-09.
0001520138-24-000162
Item 1A. RISK FACTORSCurrent report: 10-Q
Period ended 2024-08-31; filed 2024-10-10.
0001520138-24-000344
Item 1A. RISK FACTORSThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 4 previous paragraphs and 3 current paragraphs.
2 unchanged; 0 reworded; 1 added; 2 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (1)
Current report
During the three months ended August 31, 2024, the Company issued (i) 555,913 shares of common stock upon the conversion of 11,118,250 shares of Series A Preferred Stock and (ii) non-statutory stock options to purchase, in the aggregate, up to 24,000 shares of the Company’s common stock, at an exercise price equal to the Company’s closing price on the NYSE American on the date of grant. The issuance of the securities were deemed to be exempt from registration pursuant to Section 4(a)(2) of the Securities Act, including Regulation D and Rule 506 promulgated thereunder, as transactions by the Company not involving a public offering.
Removed paragraphs (2)
Previous report
On March 5, 2024, the Board approved and the Company entered into repurchase agreements with certain stockholders of the Company to purchase in the aggregate 207,748,250 shares of Series A Preferred Stock of the Company (equivalent, in aggregate, to 10,387,413 shares of the Company’s common stock on an as converted basis) for the aggregate cash consideration of $1,246,489.50. Following the repurchase, 42,251,750 shares of Series A Preferred Stock remained outstanding. The Company funded the repurchase through cash on hand.