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materiality 0.55
Kustom Entertainment sets 1-for-10 reverse split, stockholders approve 1.2B share authorization and TFL deal issuances
KUSTOM ENTERTAINMENT, INC.
- 1-for-10 reverse split effective Oct 1, 2026 cuts outstanding shares to 650,686 from 6,506,860; authorized common trimmed to 1,333,334 from 13,333,333; new CUSIP 25382T705.
- Company says the split is to lift the share price above Nasdaq's $1.00 minimum bid requirement; board approved the ratio Sept 18, 2026 and split-adjusted trading began Oct 1.
- Stockholders approved raising authorized capital to 1,200,000,000 shares from 23,333,333: 1,000,000,000 common and 200,000,000 preferred, par $0.001.
- Annual meeting Oct 5, 2026 elected directors Stanton E. Ross, Leroy C. Richie, D. Duke Daughtery and Charles M. Anderson; Victor Mokuolu CPA PLLC ratified as 2026 auditor.
- Holders approved Nasdaq Rule 5635 issuances tied to the Aug 31, 2026 Unit Purchase Agreement with TFL, LLC that could result in a change of control; say-on-pay set to every three years.