Lendway sells in-store marketing business for $3.5M, appoints new CEO

BLOOMIA HOLDINGS, INC.

Sold in-store advertising assets for $3.5M cash (subject to adjustment) to affiliate of Park Printing; transaction closed Aug 3.
Randy Uglem promoted to President and CEO on Aug 4, 2023; previously SVP of Lending.
Q2 2023 net loss $36K ($0.02/share) vs loss $1.1M ($0.61/share) in Q2 2022; net sales $6.2M (+90.9%).
Company shifts to non-bank lending, initially focused on agri-real estate secured loans; expects minimal revenue and losses from continuing ops.
Cash and equivalents $11.5M, working capital $15.0M at June 30; continues strategic review with Chardan.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BLOOMIA HOLDINGS, INC. reported financial results for the second quarter ended June 30, 2023.

Period: the second quarter ended June 30, 2023
Result: reported results

Exact text from the filing

Lendway, Inc. issued a press release announcing the Company’s financial results for the three and six months ended June 30, 2023.

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BLOOMIA HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001654954-23-010486

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