secwatch.observer — SEC 8-K summary
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Issuer:     SideChannel, Inc. (SDCH)
CIK:        0001022505
Form:       8-K/A
Filed at:   2022-09-12T23:59:59+00:00
Accession:  0001493152-22-025564
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SideChannel files SCS financials; SCS revenue up 124% in FY2021, growth slows in 9 months
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- SCS revenue $2.8M in FY2021 (vs $1.25M in FY2020); net income $512.6K (vs $303.9K).
- For 9 months ended June 30, 2022 unaudited: revenue $3.56M, net income ~$40K (from retained earnings change).
- Acquisition consideration: 59.9M common shares + 100 Series A preferred; earn-out up to 59.9M shares if SCS exceeds $5.5M revenue in any 12 months.
- Sellers received ~40.4% of combined common stock; could rise to ~57.5% if earn-out achieved.
- SCS had $428.9K cash, $535.6K receivables, and $50K promissory note as of June 30, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1022505/000149315222025564/0001493152-22-025564-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1022505/000149315222025564/form8-ka.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-025564

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