Highest-materiality recent filing
Algorhythm Holdings misses $1.5M note payment, enters forbearance with SemiCab until June 16
Missed $1.5M initial payment due May 2, 2026 on $1.75M promissory note to SemiCab Inc.
Algorhythm Holdings defaults on $1.5M note payment; interest rate rises from 6% to 8%
Failed to make $1.5M initial payment due May 2, 2026 on a $1.75M promissory note to SemiCab Inc.
Algorhythm Holdings enters $10.355M secured prepaid purchase with Streeterville Capital
Principal amount $10.355M with $855K original issue discount; net proceeds $9.5M; $3.5M placed in restricted deposit account as collateral.
Secured Pre-Paid Purchase #3 with principal $1,090,000, including $90,000 original issue discount; net proceeds $1,000,000.
Algorhythm Holdings (RIME) receives Nasdaq deficiency notice for equity below $2.5M
Stockholders' equity as of Sept 30, 2025 was $100,000, far below Nasdaq's $2.5M minimum listing requirement.
Reverse stock split authorized at ratio between 1:2 and 1:10; board to set exact ratio within one year.
Algorhythm reports Q3 revenue up 1,273% YoY to $1.7M; net loss narrows to $1.9M
Revenue $1.7M vs $0.1M YoY; net loss from continuing ops $1.9M vs $2.1M.
Algorhythm acquires 99.99% of SMCB; acquired entity has going concern doubts
SMCB reported net loss of $890K for FY ended March 2025, revenue $2.653M, gross loss $28K.
Algorhythm enters $20M prepaid purchase with Streeterville; director Kling resigns
Entered up to $20M prepaid purchase agreement with Streeterville; initial $4.39M at 9%, 3-yr maturity.
Algorhythm sells Singing Machine karaoke business to Stingray for $4.5M, eliminates $4M liabilities
Transaction closed Aug 1, 2025; consideration of $4.5M includes cash and assumption of ~$4M in liabilities, vastly de-levering balance sheet.
On May 19, 2025, Ajesh Kapoor was appointed to serve as a member of the board of directors (the “Board”) of Algorhythm Holdings, Inc. (the “Company”).
Max materiality 0.80 · Median 0.65 · Most common event debt