8-K
Algorhythm Holdings, Inc. (RIME)
UNITEDSTATES
SECURITIESAND EXCHANGE COMMISSION
Washington,D.C. 20549
FORM8-K
CURRENTREPORT
Pursuantto Section 13 OR 15(d) of The Securities Exchange Act of 1934
Dateof Report (Date of earliest event reported): July 10, 2020
THESINGING MACHINE COMPANY, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 0-24968 | 95-3795478 |
|---|---|---|
| (State<br> or other jurisdiction <br><br> of incorporation) | (Commission<br> <br><br> File Number) | (IRS<br> Employer <br><br> Identification No.) |
6301 NW 5^th^ Way, Suite 2900, Fort Lauderdale, FL 33309
(Address of principal executive offices and Zip Code)
Registrant’s telephone number, including area code (954) 596-1000
Copies to:
Gary Atkinson
Chief Executive Officer
6301 NW 5^th^ Way, Suite 2900
Fort Lauderdale, FL 33309
954-596-1000 (phone)
954-596-2000 (fax)
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<br> communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| [ ] | Soliciting<br> material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| [ ] | Pre-commencement<br> communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| [ ] | Pre-commencement<br> 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 |
|---|---|---|
| Common<br> stock, par value $.01 per share | SMDM | OTCQX |
Item8.01 Other Events
On July 10, 2020, The Singing Machine Company, Inc. (“the Company”) received final payment on it’s marine cargo insurance claim related to a previously disclosed damage of goods incident that occurred last August 2019 (See Note 2 – Liquidity, in most recent 3^rd^ quarter-ended 10-Q filed on February 14, 2020 with the SEC). The Company had marine cargo insurance that provided for the recovery of net sales value plus additional expenses associated with the damaged goods. The Company has received in total approximately $2.34 million from the insurance claim, representing 98% of the total amount of the claim.
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.
| THE SINGING MACHINE, COMPANY, INC. | |
|---|---|
| Date:<br> July 15, 2020 | /s/ Gary Atkinson |
| Gary<br> Atkinson | |
| Chief<br> Executive Officer |