---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-009789"
form_type: "8-K"
ticker: null
cik: "0001029744"
company_name: "SONIC FOUNDRY INC"
filed_at: "2024-03-28T23:59:59+00:00"
generated_at: "2026-06-04T05:41:41.985700+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Sonic Foundry enters receivership; court-appointed receiver to liquidate assets; shareholders likely to receive nothing.

## Summary
- Court appointed Seth E. Dizard as receiver on March 26, 2024 under Wis. Stats. Ch. 128 for all assets of Sonic Foundry.
- Shareholders will not receive distributions from receivership; trading in common stock is highly speculative with potential total loss.
- Mark Burish provided a $50,000 initial advance and holds super-priority security interest over all assets; loan matures May 10, 2024.
- Receiver authorized to use cash collateral per approved budget; additional borrowing at lender's sole discretion.

## SEC filing metadata
- accession: 0001437749-24-009789
- form_type: 8-K
- cik: 0001029744
- company_name: SONIC FOUNDRY INC
- filed_at: 2024-03-28T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 2.03, 1.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1029744/000143774924009789/0001437749-24-009789-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1029744/000143774924009789/sofo20240328_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-009789
- JSON: https://secwatch.observer/filing/0001437749-24-009789.json
- Plain text: https://secwatch.observer/filing/0001437749-24-009789.txt

## Key facts
- Debt Financings
  SONIC FOUNDRY INC incurred loan of $50,000 with Mark Burish maturing May 10, 2024.
  - Instrument: loan
  - Principal: $50,000
  - Counterparty: Mark Burish
  - Maturity: May 10, 2024
  - Event: incurrence
  source text: On March 26, 2024 the Court issued an order approving post-petition financing between Mark Burish as lender (“Lender”) and Seth E. Dizard in his capacity as Receiver for Sonic Foundry (the “Loan”). the Loan is in the form of a Financing Agreement with the Lender (the “Financing Agreement”), which provides for an initial advance of $50,000 upon entry of the order approving the Loan and for further advances in the sole discretion of the Lender and subject to documentation and at such interest rates as Lender shall in his sole discretion requires.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1029744/000143774924009789/0001437749-24-009789-index.htm
- Distress & Bankruptcy
  SONIC FOUNDRY INC entered receivership in Dane County Circuit Court in Wisconsin (petition 2024-03-26).
  - Proceeding: receivership
  - Court: Dane County Circuit Court in Wisconsin
  - Petition: 2024-03-26
  source text: On March 26, 2024 the Court issued an order approving Seth E. Dizard as the Receiver.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1029744/000143774924009789/0001437749-24-009789-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.