CIMG Inc 8-K, filed Jul 10, 2020
CIMG Inc. (CIMG)
About this 8-K
CIMG Inc filed this 8-K on July 10, 2020.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
| ||||||
| ||||||
| (Commission File #) | (IRS Employer Identification No.) | ||||
| ||||||
| ||||||
| ||||||
( | ||||||
| ||||||
N/A (Former name or former address, if changed since last report) | ||||||
| ||||||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: | ||||||
|
| |||||
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ||||||
|
| |||||
| Securities registered pursuant to Section 12(b) of the Act: | |||||
|
| |||||
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | |||
| The | |||||
|
|
|
| |||
| Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). | |||||
| Emerging growth company | |||||
| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ☐ | ||||
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 10, 2020, the Board of Directors of NuZee, Inc. (the “Company”) changed the titles and responsibilities of the Company’s senior executives. Masateru Higashida, the Company’s Chief Executive Officer and Secretary, retains those titles and was also appointed President. Travis Gorney, formerly the Company’s President and Chief Operating Officer, was appointed the Company’s Chief Marketing Officer and Vice President. Shanoop Kothari, formerly the Company’s Senior Vice President and Chief Financial Officer, remains the Chief Financial Officer and was appointed Chief Operating Officer and Vice President. There are no arrangements or understandings pursuant to which such senior executives titles and responsibilities were changed, and there are no transactions reportable pursuant to Item 404(a) of Regulation S-K in connection with any of these modifications to such senior executives titles and responsibilities.
Item 8.01. Other Events.
On July 10, 2020, the Company issued a press release announcing the changes in the titles and responsibilities of the Company’s senior executives. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01.Financial Statements and Exhibits.
(d) Exhibits
Exhibit |
| Description |
99.1 |
|
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
NUZEE, INC.
Dated: July 10, 2020By: /s/ Shanoop Kothari____
Name: Shanoop Kothari
Title: Vice President, Chief Financial Officer and Chief Operating Officer
NuZee (d/b/a/ Coffee Blenders®) Announces Changes in Senior Management Duties |
|
PLANO, Texas, July 10, 2020 /PRNewswire/ -- NuZee, Inc. (NASDAQ: NUZE) ("NuZee"), the leading single-serve pour-over coffee producer and co-packer, today announced changes in senior management's duties to reflect a greater focus on the adoption of single serve pour over coffee by major U.S. coffee brands. As part of these changes, Mr. Masateru Higashida, the Company's Chief Executive Officer, will add the title of President and will directly oversee the Company's three international subsidiaries. Mr. Shanoop Kothari will continue his duties as the Company's Chief Financial Officer but has also been named as the Company's Chief Operating Officer and will lead the Company's production efforts and direct to consumer channels in the U.S. Mr. Travis Gorney, will become the Company's Chief Marketing Officer and Vice President with the primary role of establishing and managing a sales team focused on adoption of single serve pour over coffee by major U.S. coffee brands. Both Mr. Kothari and Mr. Gorney will continue to report to Mr. Higashida.
"These changes to our management structure better align the strengths of our management team with their new areas of focus, which we expect will result in greater sales to blue chip coffee companies in the U.S.," said Mr. Higashida, President and CEO of the Company. "Over the last two years, NuZee has invested in a platform to lead the adoption of single serve pour over coffee in the U.S. In addition to a greater focus on sales, the changes also reflect our focus on maximizing our opportunity to achieve profitability from these investments," added Mr. Higashida.
About NuZee and Coffee Blenders
NuZee, Inc. (d/b/a Coffee Blenders®) is a specialty coffee company and a leading U.S. single-serve pour-over coffee producer and co-packer. We own highly sophisticated packing equipment developed in Asia for pour over coffee production and possess exclusive agreements that restrict North American competitors' access to equipment and pour over filters. We co-pack single-serve pour-over coffee products for dozens of customers in the U.S. market and also co-pack for the Korean market. Our California facility is SQF level 2 certified facility is Fair Trade, Organic, Kosher and Halal.
Forward-looking Statements
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. NuZee cautions you that such statements are simply predictions and actual events or results may differ materially. These statements reflect NuZee's current expectations, and NuZee does not undertake to update or revise these forward looking statements, even if experience or future changes make it clear that any projected results expressed or implied in this or other NuZee statements will not be realized. Further, these statements involve risks and uncertainties, many of which are beyond NuZee's control, which could cause actual results to differ materially from the forward-looking statements. These risks and uncertainties, many of which are beyond our control, include the effects of market acceptance of single serve pour over coffee, the COVID-19 pandemic on our operations and general economic conditions and our need for substantial additional funds. For a description of additional factors that may cause NuZee's actual results, performance or expectations to differ from any forward-looking statements, please review the information set forth in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's public reports filed with the SEC.