Highest-materiality recent filing
Psychemedics closes stock purchase with 3K LP; repurchases shares for fractional split coverage
3K Limited Partnership bought 1,409,712 shares at $2.35 on Dec 3, 2024.
Psychemedics executes reverse/forward stock split, plans Nasdaq delisting
Stock split effective Dec 3, 2024: 1-for-5,000 reverse split followed by 5,000-for-1 forward split.
Psychemedics shareholders approve reverse-forward stock split and ratify stock purchase agreement
Re-elected five directors: Robyn C. Davis, Brian Hullinger, Peter H. Kamin, Darius G. Nevin, Andrew M. Reynolds with votes ranging 3.70–3.73M for.
Psychemedics Q3 revenue falls 9% to $5.2M; net loss narrows to $0.5M from $2.1M
Q3 2024 revenue $5.2M, down 9% YoY from $5.7M; nine-month revenue $15.3M, down 11%.
Psychemedics Q2 revenue down 15% to $4.7M; net loss widens to $0.14/sh
Q2 2024 revenue $4.7M vs $5.5M YoY (-15%); net loss $0.8M ($0.14/sh) vs $0.7M ($0.13/sh).
Reverse stock split at ratio between 1:4,000 and 1:6,000; shares below ratio denominator cashed out at $2.35 each.
Psychemedics dismisses BDO USA as auditor, engages Whitley Penn LLP
Dismissed BDO USA as independent auditor on June 6, 2024; engaged Whitley Penn LLP on June 12, 2024.
Psychemedics terminates Culver City lease; expects $250K net savings
Lease termination effective June 30, 2024 for 5750 Hannum Ave, Culver City, CA.
Psychemedics reports Q1 2024 revenue down 9% to $5.4M; net loss widens to $0.7M
Revenue $5.4M vs $5.9M in Q1 2023, a 9% decline.
Psychemedics reports 2023 revenue down 12% to $22.1M, net loss widens to $4.2M
Revenue $22.1M in 2023, down 12% from $25.2M in 2022.
Psychemedics sets 2024 CEO cash bonus target at $190,000; other execs at 25-40% of salary
CEO Brian Hullinger's 2024 bonus target is $190,000 with a maximum of $285,000 tied to financial and individual goals.
Psychemedics appoints Daniella Mehalik as VP-Finance and Treasurer, principal financial officer
Daniella Mehalik, age 33, appointed VP-Finance and Treasurer, effective November 27, 2023.
Psychemedics Q3 revenue $5.7M (-12% YoY); net loss widens to $2.1M
Revenue $5.7M vs $6.5M YoY; net loss $(2.1M) or $(0.36)/diluted share vs $(0.02) loss.
Psychemedics VP of Lab Ops Michael Schaffer departs effective Nov 3, 2023
Michael Schaffer ceased as VP of Laboratory Operations and employment on Nov 3, 2023.
Psychomedics Assistant Controller Michael Weisenhoff resigns effective Sept 29, 2023
Michael Weisenhoff, Assistant Controller, resigned on Sept 20, 2023, effective Sept 29, 2023.
Psychemedics EVP Charles Doucot to depart Sept 15, 2023; severance per 2019 agreement
Executive Vice President Charles Doucot leaving effective September 15, 2023.
Psychemedics grants 300,000 inducement options to new CEO; Nevin elected Chairman
Inducement options to purchase 300,000 shares granted to CEO Brian Hullinger at $4.65/share exercise price.
Psychemedics Q2 revenue down 15% to $5.5M, net loss widens; CEO transition, dividend eliminated
Revenue $5.5M vs $6.5M (-15%); net loss $(726,000) vs $(338,000); EPS $(0.13) vs $(0.06).
Psychemedics settles contract dispute for $500K; records Q2 charge
Settled lawsuit with Transportation Insight LLC for $500,000 paid in three installments (first $166,667 in 30 days, then by Dec 2023 and Dec 2024).
Psychemedics CEO Raymond Kubacki to retire; Brian Hullinger named successor as President/CEO
Raymond Kubacki and director Fred Weinert retire effective Aug 17, 2023; controller William Norris resigns effective July 21.
Psychemedics Q1 revenue down 10% to $5.9M, net loss of $384K; declares $0.07 dividend
Net loss of $384K ($0.07 diluted loss) vs net income of $39K ($0.01 diluted) in Q1 2022.
Psychemedics reports flat FY2022 revenue; net loss widens to $0.19/sh; declares $0.07 dividend
FY2022 revenue $25.2M (+1% YoY); net loss $1.1M or ($0.19) diluted EPS vs loss $0.7M ($0.12) prior year.
Psychemedics approves 2023 cash bonus plans for executives
Compensation committee approved 2023 cash bonus arrangements for CEO, EVP, VP Lab Ops, and Controller.
Psychemedics appoints William Norris as Controller and principal financial officer
William Norris, 34, appointed Controller effective Jan 1, 2023, as principal financial and accounting officer.
Psychemedics Q3 revenue down 3% to $6.5M, net loss of $0.1M; declares $0.07 dividend
Revenue $6.5M vs $6.7M YoY (-3%); net loss $0.1M ($0.02/sh) vs net income $0.7M ($0.13/sh).
Psychemedics 2022 annual meeting: all directors elected, compensation approved
Six directors elected: Davis (3,299,451 for), Kamin (3,314,652), Kubacki (2,974,378), Nevin (3,333,632), Reynolds (3,179,137), Weinert (2,889,911).
Psychemedics Q2 2022 revenue up 7% to $6.5M; net loss $0.3M vs net income $0.1M YoY
Revenue $6.5M for Q2 2022, up 7% from $6.1M in Q2 2021; domestic revenue up 13% but Brazil down 65%.
Controller Andrew Limbek resigns, will consult through his new firm
Andrew Limbek resigned as VP-Controller, effective Aug 12, 2022, to join an international accounting firm.
Board increases from 5 to 6 directors; Peter H. Kamin and Darius G. Nevin nominated for election at Aug. 12, 2022 annual meeting.
Psychemedics Q1 revenue up 14% to $6.5M; declares increased dividend of $0.07/share
Revenue $6.5M vs $5.7M (+14% YoY); domestic revenue up 17%, international down 42%.
Psychemedics FY2021 revenue up 17% to $24.9M; net loss narrows to $0.7M from $3.9M
Full-year revenue $24.9M (+17% YoY); net loss $0.7M ($0.12/diluted) vs $3.9M ($0.70) loss in 2020.
Psychemedics appoints Andrew Reynolds to Board; Harry Connick retires effective Apr 4, 2022
Andrew Reynolds elected to Board as independent director, effective April 4, 2022, filling vacancy from Harry Connick's retirement.
Psychemedics furnishes investor presentation; content not available in filing excerpt
Presentation materials intended for meetings with investors and other parties.
Psychemedics approves 2022 cash bonus plan for execs; up to 25% of base salary
Bonus up to 25% of base salary based on domestic sales plan (7.5%), EPS target (7.5%), and individual goals (10%).
Psychemedics settles California wage lawsuit for $1.15M, resumes dividend of $0.05/share
Binding MOU to settle class action over CA wage/hour laws for ~$1.15M; company denies liability.
Psychemedics Q3 revenue up 29% to $6.7M; net income $0.13 EPS vs loss of $0.20
Revenue $6.7M vs $5.2M YoY (+29%); domestic revenue up 27% YoY.
Psychemedics settles contractual dispute for $1.925M, continues strategic review
Agreed to pay customer $1.925M plus $150k from insurers to settle contractual dispute; payment due by Nov 30, 2021.
Psychemedics Q2 2021 revenue up 85% to $6.1M, swings to net income of $0.1M
Revenue $6.1M vs $3.3M in Q2 2020 (+85%); net income $0.1M ($0.02 EPS) vs net loss $2.1M (-$0.37).
Psychemedics receives full forgiveness of $2.18M PPP loan from SBA
PPP loan principal of $2,181,157 plus accrued interest fully forgiven; forgiveness payment date July 1, 2021.
On November 27, 2023, the Psychemedics Corporation (the “Company”) appointed Daniella Mehalik as Vice President – Finance and as Treasurer of the Company.
Effective November 3, 2023, Michael Schaffer ceased serving as Vice President of Laboratory Operations of Psychemedics Corporation (the "Company") and is no longer employed by the Company.
On September 20, 2023, Michael Weisenhoff, Assistant Controller, resigned from such position effective September 29, 2023, to take a position with another company.
Charles Doucot, the Company’s Executive Vice President, will be leaving the Company effective September 15, 2023.
On July 12, 2023, William Norris, the Company’s Controller, resigned from such position, and otherwise as an officer of the Company, effective July 21, 2023 to take a position with a home healthcare technology company.
On July 12, 2023, Fred J. Weinert, a director of the Company, notified the Company that he will retire as a director effective August 17, 2023 coincident with the Annual Meeting of Stockholders on such date.
On July 12, 2023 Raymond C. Kubacki, the Company’s Chairman, Chief Executive Officer and President notified the Company that he will retire as Chairman Chief Executive Officer and President effective August 17, 2023 coincident with the Annual Meeting of Stockholders on such date.
On July 12, 2023, the Company announced Brian Hullinger as the new President and Chief Executive Officer of the Company, to take effect on August 17, 2023.
On July 13, 2023, the Company appointed Michael Weisenhoff, Assistant Controller of the Company, as the Company’s principal financial and accounting manager, to take effect as of July 20, 2023.
He has also been nominated to be elected as a director of the Company at the Annual Meeting of Stockholders to be held on August 17, 2023.
On December 30, 2022, the Psychemedics Corporation (the “Company”) appointed William Norris as Controller of the Company, to take effect as of January 1, 2023.
On July 19, 2022, Andrew Limbek, the Corporation’s Vice President – Controller, resigned from such position, and otherwise as an officer of the Corporation, to take effect as of the close of business on August 12, 2022, in order to pursue an opportunity with an international accounting firm.
Max materiality 0.90 · Median 0.60 · Most common event earnings