secwatch.observer — SEC 8-K summary
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Issuer:     Frequency Holdings, Inc (FRQN)
CIK:        0001624517
Form:       8-K/A
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0001829126-24-002914
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Yuengling's Ice Cream files audited financials for ReachOut Technology acquisition
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- Acquisition closed Nov 7, 2023: YCRM acquired 100% of ReachOut in exchange for Series C Preferred Stock convertible to 87.5% of common shares.
- ReachOut audited financials show net loss of $1,341,800 in 2022 and $364,928 in 2021, with negative operating cash flows.
- Total assets of ReachOut were $6.39M as of Dec 2022 vs. $837.6K in Dec 2021, with goodwill of $5.36M from the IND acquisition.
- Auditor notes substantial doubt about ReachOut's ability to continue as a going concern due to cumulative losses and working capital deficit.
- Pro forma financial statements filed giving effect to the business combination as of Oct 31, 2023 and Dec 31, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1624517/000182912624002914/0001829126-24-002914-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1624517/000182912624002914/yuenglingsice_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001829126-24-002914

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