secwatch.observer — SEC 8-K summary
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Issuer:     FITLIFE BRANDS, INC. (FTLF)
CIK:        0001374328
Form:       8-K
Filed at:   2022-05-16T23:59:59+00:00
Accession:  0001851734-22-000270
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FitLife Brands reports preliminary Q1 revenue $7.0-7.3M; audit committee probing revenue recognition
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- Preliminary Q1 revenue $7.0-7.3M, net income $1.0-1.3M, adjusted EBITDA $1.4-1.7M.
- Quarter-end cash $11.1M; no outstanding debt.
- Supplier rebates of ~$250k delayed to Q2, driving gross margin decline YoY.
- Amazon listing suppressions caused estimated lost revenue of $150-200k in Q1.
- Audit committee investigating revenue recognition and inventory costs for 2019-2021; 10-K filing delayed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1374328/000185173422000270/0001851734-22-000270-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1374328/000185173422000270/ftlf20220516_8k.htm
  HTML page:      https://secwatch.observer/filing/0001851734-22-000270

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