LUVU 8-K
Luvu Brands, Inc. (LUVU)
8-K
2021-07-15
For: 2021-07-15
View Original
Added on
April 06, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date of Report (Date of earliest event reported)
July 15,
2021
|
LUVU BRANDS, INC.
|
|
(Exact name of registrant as specified in its charter)
|
|
Florida
|
000-53314
|
59-3581576
|
|
(State or other jurisdiction of incorporation or
organization)
|
(Commission File Number)
|
(I.R.S. Employer Identification No.)
|
2745 Bankers Industrial Drive,
Atlanta, GA 30360
(Address of principal executive offices)(Zip Code)
Registrant's
telephone number, including area code: (954) 958-6668
|
_______________________________________
|
|
(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 (see General Instruction A.2.
below):
☐
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
|
|
none
|
not
applicable
|
not
applicable
|
Indicate by check mark whether the registrant is an emerging growth
company as defined in 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 checkmark 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 2.02
Results of Operations and Financial Condition.
On July 15, 2021, LUVU Brands, Inc. (the “Company”)
announced preliminary unaudited
net sales for the three months ended June 30, 2021, were
approximately $5.9 million (or approximately 7% higher) than the
$5.5 million recorded in the same period of 2020. Included in the
prior year three months ended June 30, 2020 results were $780,000
in sales of PPE products. Excluding the non-recurring PPE sales,
the comparable quarter-to-quarter increase was approximately 25%.
For the twelve months ended June 30, 2021, preliminary net sales
were a record $23.1 million, an increase of approximately 25% from
the $18.4 million reported for the prior fiscal
year.
These total net sales are preliminary
estimates, based upon calculation or figures that have been
prepared internally by the Company’s management and have not
been reviewed by its independent registered public accounting firm
and may change upon completion of its audit. There can be no
assurance that the Company’s actual results for fiscal 2021
will not differ from the preliminary financial data presented in
this report and such changes could be material. This preliminary
financial data should not be viewed as a substitute for full
financial statements prepared in accordance with GAAP and is not
necessarily indicative of the results to be achieved for any future
period. The Company’s audited consolidated financial
statements for fiscal 2021 will be contained in its Annual Report
on Form 10-K for the year ended June 30, 2021 to be filed with the
SEC.
The information appearing in Item 7.01 of this report is hereby
incorporated by reference into this Item 2.02.
Item
7.01 Regulation
FD Disclosure.
On July 15, 2021 the Company issued a press release announcing
preliminary unaudited net sales for the three months ended June 30,
2021 and twelve months ended June 30, 2021. A copy of the press
release is incorporated herein by reference as Exhibit 99.1
hereto.
The information in Items 2.02 and 7.01 hereof and Exhibit 99.1
attached hereto shall not be deemed filed for purposes of Section
18 of the Securities Act of 1934, nor shall it or they be deemed
incorporated by reference in any filing under the Securities Act of
1933, except as shall be expressly set forth by specific
reference.
Item 9.01 Financial
Statements and Exhibits.
|
|
|
|
|
Incorporated by Reference
|
|
Filed or
|
||||
|
No.
|
|
Exhibit Description
|
|
Form
|
|
Date Filed
|
|
Number
|
|
Furnished Herewith
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Press
Release dated July 15, 2021
|
|
|
|
|
|
|
|
Furnished
|
|
SIGNATURES
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 hereunto duly authorized.
|
|
LUVU
Brands, Inc.
|
|
|
|
|
|
|
Date:
July 15, 2021
|
By:
|
/s/
Ronald P. Scott
|
|
|
|
Ronald
P. Scott, Chief Financial Officer
|
EXHIBIT 99.1
LUVU BRANDS PROVIDES PRELIMINARY Q4 AND FISCAL YEAR NET
SALES
Preliminary fiscal 2021 net sales are 25% ahead of prior fiscal
year
ATLANTA, GA / July 15, 2021 / Luvu Brands, Inc.,
(OTCQB:LUVU), a designer,
manufacturer and marketer of a portfolio of consumer lifestyle
brands, today announced
that preliminary unaudited net sales for the three months
ended June 30, 2021 were approximately $5.9 million (or
approximately 7% higher) than the $5.5 million recorded in the same
period of 2020. Included in the prior year three months ended June
30, 2020 results were $780,000 in sales of PPE products. Excluding
the non-recurring PPE sales, the comparable quarter-to-quarter
increase was approximately 25%. For the twelve months ended June
30, 2021, preliminary net sales were a record $23.1 million, an
increase of approximately 25% from the $18.4 million reported for
the prior fiscal year.
Note About Preliminary Results
The
estimated preliminary net sales for the fourth quarter and twelve
months ended June 30, 2021, presented in this release are not
reviewed or audited and may change. The preliminary unaudited net
sales presented herein include calculations or figures that have
been prepared internally by management and have not been reviewed
by our independent registered public accounting firm. There can be
no assurances that Luvu Brands reported net sales for the fourth
quarter and twelve months ended June 30, 2021, will not differ from
the amounts presented herein. This preliminary financial data
should not be viewed as a substitute for full audited financial
statements prepared in accordance with GAAP and is not necessarily
indicative of the results to be achieved for any future period. Our
audited financial statements for the three and twelve months ended
June 30, 2021, will be contained in our Annual Report on Form 10-K
to be filed with the Securities and Exchange
Commission.
Forward Looking Statements
This press release contains forward-looking statements. The words
"believe," "may," "estimate," "continue," "anticipate," "intend,"
"should," "plan," "could," "target," "potential," "is likely,"
"will," "expect" and similar expressions, as they relate to us, are
intended to identify forward-looking statements. Luvu Brands has
based these forward-looking statements largely on our current
expectations and projections about future events and financial
trends that we believe may affect our financial condition, results
of operations, business strategy and financial needs. Some or all
of the results anticipated by these forward-looking statements are
unknown at this time. These forward-looking statements are
not guarantees of future performance and are subject to risks,
uncertainties, and other factors, including, but not limited our
ability to, statements regarding our preliminary unaudited net
sales information presented herein, some of which are beyond our
control and difficult to predict and could cause actual results to
differ materially from those expressed or forecasted in the
forward-looking statements. You are
urged to carefully review any cautionary statements and other
disclosures in Luvu Brand’s Annual Report on Form 10-K for
the year ended June 30, 2020, and its other filings with the
Securities and Exchange Commission. Any forward-looking statement
made by us herein speaks only as of the date on which it is made.
Factors or events that could cause our actual results to differ may
emerge from time to time, and it is not possible for us to predict
all of them. Luvu Brands undertakes no obligation to publicly
update any forward-looking statement, whether as a result of new
information, future developments or otherwise, except as may be
required by law.
About Luvu Brands
Luvu Brands, Inc. designs, manufactures and markets a portfolio of
consumer lifestyle brands through the Company’s websites,
online mass merchants and specialty retail stores worldwide. Brands
include: Liberator®,
a brand category of iconic products for enhancing sexual
performance; Avana®,
inclined bed therapy products, assistive in relieving medical
conditions associated with acid reflux, surgery recovery and
chronic pain; and Jaxx®,
a diverse range of casual fashion daybeds, sofas and beanbags made
from polyurethane foam and repurposed polyurethane foam trim.
Headquartered in Atlanta, Georgia, the Company occupies a 140,000
square foot vertically integrated manufacturing facility and
employs over 200 people. The Company's brand sites include:
www.liberator.com,
www.jaxxliving.com,
www.avanacomfort.com plus other global
e-commerce sites. For more information about Luvu Brands, please
visit
www.luvubrands.com.
Company Contact:
Luvu
Brands, Inc.
Ronald
Scott
Chief
Financial Officer
770-246-6426