secwatch.observer — SEC 8-K summary
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Issuer:     CROWN CRAFTS INC (CRWS)
CIK:        0000025895
Form:       8-K/A
Filed at:   2023-05-26T23:59:59+00:00
Accession:  0001437749-23-016009
Event type: other_material
Sentiment:  neutral
Materiality: 0.45
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Crown Crafts files audited financials of acquired Manhattan Toy; FY22 sales $25.8M, net loss $2.7M
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- Manhattan Group net sales $25.78M, net loss $2.70M for year ended Dec 31, 2022.
- Total assets $19.71M, member's equity $16.28M; accumulated deficit $(15.43M).
- Operating loss $(1.95M); interest expense $642k; cash used in operations $5.38M.
- Manhattan restated FY2021 financials to correct sales commission accrual, reducing accumulated deficit by $399k.
- Pro forma financials combine Crown Crafts and Manhattan as if acquisition occurred earlier; deal announced March 20, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/25895/000143774923016009/0001437749-23-016009-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/25895/000143774923016009/crws20230526_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-016009

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer