secwatch.observer — SEC 8-K summary
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Issuer:     MachTen, Inc. (—)
CIK:        0001957783
Form:       8-K/A
Filed at:   2023-10-24T23:59:59+00:00
Accession:  0001140361-23-049313
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MachTen posts pro forma revenue of $7.9M, net income $1.5M for H1 2023 after LMT Holding contribution
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- Pro forma balance sheet shows total assets $28.9M and shareholders' equity $6.9M as of June 30, 2023.
- Pro forma statement of operations for six months ended June 30, 2023: revenue $7.86M, operating profit $2.62M, net income $1.53M.
- LMT Holding contributed to MachTen for 3.17M shares and $15M cash dividend; MachTen drew $15M on CoBank revolver to fund dividend.
- Transaction adjustments include $0.56M interest expense (7.5% rate), $44K stock compensation, and $30K for transitional services agreement.
- The spin-off of 81% of MachTen common stock to LICT stockholders occurred on August 31, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1957783/000114036123049313/0001140361-23-049313-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1957783/000114036123049313/ef20013101_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-049313

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