secwatch.observer — SEC 8-K summary
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Issuer:     Wilhelmina International, Inc. (WHLM)
CIK:        0001013706
Form:       8-K
Filed at:   2021-11-15T23:59:59+00:00
Accession:  0001171843-21-007920
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wilhelmina Q3 revenue $15.1M (+43% YoY), net income $1.2M; discloses $0.7M fraud
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- Net income of $1.2M ($0.22 diluted EPS) vs $22K in Q3 2020; operating income $1.0M.
- Revenue growth driven by reopening and higher vaccination rates in operating cities.
- Non-recurring items: $0.5M employee retention credit in Q3; $2.0M PPP loan forgiveness YTD.
- Company victim of business email compromise fraud in Oct 2021; $0.7M transferred, at least $0.3M expected recovery.
- Fraud did not materially impact Q3 results but may cause a Q4 charge depending on recovery and insurance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1013706/000117184321007920/0001171843-21-007920-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1013706/000117184321007920/f8k_111321.htm
  HTML page:      https://secwatch.observer/filing/0001171843-21-007920

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