Highest-materiality recent filing
Universal Safety Products enters $10.6M convertible note financing with SJC Lending
Up to $10.6M principal convertible notes sold to SJC Lending for $10M cash; initial $1.06M note issued for $1M.
Universal Safety Products converts $1.36M convertible note into 310,575 common shares
On March 11, 2026, issued 125,000 shares upon conversion of $470,720 of principal and accrued interest.
Universal Safety Products annual meeting elects directors, approves say-on-pay every 3 years
Stockholders elected Ira F. Bormel (Class II), Harvey B. Grossblatt and Henry C.W. Nisser (Class III) as directors.
Universal Safety Products issues 405k shares upon conversion of $1.5M convertible note
Issued 405,000 shares of common stock between Jan 26 and Feb 3, 2026 upon conversion of $1,503,424.80 in principal and accrued interest.
Universal Safety Products shareholders reject four proposals at special meeting
Proposal to increase authorized common shares from 20M to 220M rejected; 1,310,421 for, 187,354 against.
Special meeting reconvened Nov 14, 2025 with 2,312,887 shares eligible to vote.
Special meeting approves 4 proposals; adjourns 4 key items to Nov 14 on low votes
Stockholders approved 2025 Equity Incentive Plan (931,883 for, 58,273 against).
New employment agreement effective Oct 1, 2025, runs to July 31, 2027, replacing prior agreement.
Universal Safety Products declares $1.00 special dividend from asset sale proceeds
One-time special cash dividend of $1.00 per share, record date Sep 18, payment date Sep 25.
Universal Safety Products amends bylaws to allow virtual and out-of-state shareholder meetings
Board adopted First Amendment to Bylaws on August 28, 2025, effective immediately.
Universal Safety Products enters into $2.75M convertible note agreement with SJC Lending LLC
Agreement provides for up to $2.75M principal amount of convertible notes, purchased for $2.5M total.
Director Cary Luskin resigns from Universal Safety Products board
Cary Luskin resigned from the Board of Directors on July 28, 2025, for personal reasons.
Universal Safety Products gets NYSE American delisting notice for late 10-K; name change July 31
Received NYSE American delinquency notification on July 16, 2025 for failure to timely file Form 10-K for FY ended March 31, 2025.
UUU gets NYSE American noncompliance notice over late FY2025 10-K filing
Received NYSE American notice for failing to timely file Annual Report (Form 10-K) for year ended March 31, 2025.
On June 2, 2025, Marcum resigned as auditor and CBIZ engaged as new auditor after CBIZ acquired Marcum's attest business on Nov 1, 2024.
USI closes asset sale to Feit Electric for ~$4.96M; appoints two directors
Asset sale closed May 22, 2025; purchase price of $4,955,107.90 based on eligible inventory value.
USI enters MOU with Ault & Co to defer dissolution, pursue investment and new business
Ault & Co agrees to vote for asset sale to Feit Electric Co. and dissolution at April 15 meeting.
Shareholders approve asset sale to Feit Electric; dissolution fails; board evaluating alternatives
Asset Sale to Feit Electric approved with 1,550,126 votes For (required 1,541,858); 43,486 Against.
Universal Security Instruments adjourns special meeting on asset sale/dissolution to April 15, 2025
Special Meeting further adjourned to April 15, 2025, to solicit additional proxies for Asset Sale and Dissolution proposals.
Universal Security Instruments adjourns special meeting to March 24 for asset sale/dissolution vote
Special Meeting adjourned from March 6 to March 24, 2025 to solicit additional proxies on Asset Sale and Dissolution proposals.
Universal Security Q3 revenue up 18.9% but swings to net loss; asset sale pending
Q3 sales $5.54M (+18.9% YoY); net loss $936,639 ($0.40/sh) vs net income $102,176 ($0.04/sh) last year.
Quorum of 71.3% (1,649,857 of 2,312,787 shares) present at Jan 23 special meeting.
CEO Harvey Grossblatt waives change-of-control payments for Feit Electric asset sale
Waiver of severance and change-of-control benefits under employment agreement, contingent on closing of asset sale to Feit Electric.
1,194,384 shares (51.6% of 2,312,887) represented at Nov 7, 2024 meeting.
On Oct 29, 2024, USI entered into an Asset Purchase Agreement with Feit Electric Company (no terms disclosed).
Asset sale to Feit Electric for $6M base cash; price adjusts based on inventory value at closing.
CEO Harvey B. Grossblatt employment extended to July 31, 2025
Employment term extended by one year to July 31, 2025.
Universal Security Instruments launches strategic alternatives review to maximize shareholder value
Board authorized exploration of strategic alternatives, including potential sale or merger, with no set deadline.
Universal Security Instruments regains NYSE American listing compliance after annual meeting
Company resolved NYSE American continued listing deficiency by holding annual meeting on September 19, 2023.
Universal Security extends CEO Harvey Grossblatt's employment through July 2024
CEO Harvey Grossblatt's term extended one year, from July 31, 2023 to July 31, 2024.
Received NYSE American letter on April 3, 2023 for missing annual meeting deadline for FY ended March 31, 2022.
Infinite Reality terminates merger agreement with Universal Security Instruments
Infinite Reality notified USI on Dec 12, 2022 of immediate termination of the Merger Agreement.
USI files 8-K with Infinite Reality merger update and investor call transcript
USI entered merger agreement with Infinite Reality on February 25, 2022.
Universal Security extends CEO Harvey Grossblatt's contract through July 2023
Employment term extended one year to July 31, 2023 via Addendum dated July 22, 2022.
Infinite Reality closes $470M ReKTGlobal acquisition; merger with USI still pending
Infinite Reality closed $470M acquisition of esports conglomerate ReKTGlobal, based on iR equity valuation of $2B.
USI and Infinite Reality file S-4 for proposed merger; shareholders to vote
Infinite Reality and USI filed a Registration Statement on Form S-4 with the SEC on May 16, 2022, containing a preliminary proxy statement/prospectus.
Infinite Reality to acquire ReKTGlobal for $470M in stock; combined valuation $2.47B
All-stock deal values ReKTGlobal at $470M based on Infinite Reality equity valuation of $2B.
Infinite Reality call transcript filed but no deal terms or updates visible
Infinite Reality held video conference call on March 10, 2022, per previously announced merger with USI.
Infinite Reality secures $200M equity financing from Yorkville for UUU merger
Standby Equity Purchase Agreement with Yorkville Global Advisors for up to $200M upon merger completion.
Video conference call scheduled for March 10, 2022 at 4:15 PM ET from the Metaverse.
USI enters merger with Infinite Reality; shareholders to retain ~3% of combined entity
Merger valued at $500M enterprise; Infinite Reality shareholders will own ~97% of combined company.
CEO Harvey Grossblatt's employment extended one year to July 31, 2022; bonus threshold unchanged
Addendum extends CEO Harvey Grossblatt's employment term from July 31, 2021 to July 31, 2022.
Henry Nisser was appointed to serve as a director until the 2026 Annual Meeting of Shareholders or until his successor is duly elected and qualifies
Milton C. (Todd) Ault, III was appointed to serve as a director until the 2027 Annual Meeting of Shareholders or until his successor is duly elected and qualifies
Max materiality 0.95 · Median 0.60 · Most common event other_material