Minim cuts 78% of workforce; going concern warning, exploring bankruptcy alternatives

FiEE, Inc.

Director George I. Kassas resigns effective Sept 15, 2023, not due to disagreement.
Workforce reduced ~78% from 41 to 9 full-time employees.
Estimated severance/commission costs ~$29,230; eliminated engineering, sales, support teams.
Company faces material liquidity pressures, substantial doubt about going concern.
Exploring strategic alternatives including asset sales and possible bankruptcy relief.

item 5.02 item 8.01

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Departed

George I. Kassas

Director

FIEE · FiEE, Inc.

Effective: 2023-09-15
Filed: September 7, 2023, 7:59 PM ET

On September 5, 2023, George I. Kassas, a director of Minim, Inc. (the “Company”), advised the Board of Directors that he intends to resign as a director of the Company effective September 15, 2023.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

George I. Kassas resigned as Director at FiEE, Inc..

Action: resigned
Role: Director

Exact text from the filing

On September 5, 2023, George I. Kassas, a director of Minim, Inc. (the “Company”), advised the Board of Directors that he intends to resign as a director of the Company effective September 15, 2023.

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FiEE, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-031998

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