Sanara MedTech Inc 8-K, filed Aug 16, 2023
Sanara MedTech Inc. (SMTI)
About this 8-K
Sanara MedTech Inc filed this 8-K on August 16, 2023, reporting on events of August 15, 2023.
Items reported
- Item 7.01: Regulation FD disclosure
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):
| (Exact name of registrant as specified in its charter) |
| (State or other jurisdiction of | (Commission | (IRS Employer | ||
| incorporation) | File Number) | Identification No.) |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s
telephone number, including area code:
(Former name or former address, if changed since last report)
Not Applicable
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 | ||
| 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 7.01 Regulation FD Disclosure.
On August 15, 2023, Sanara MedTech Inc. (the “Company”) held a conference call announcing its financial results for the quarter ended June 30, 2023. During the conference call, in response to a question from an investor, the Company stated that the Company’s sales per facility were growing. To clarify, the Company’s response was based on sales per facility on a year-over-year basis when comparing the three and six months ended June 30, 2023 to the three and six months ended June 30, 2022. However, the Company’s sales per facility slightly declined on a quarter-over-quarter basis when comparing the three months ended June 30, 2023 to the three months ended March 31, 2023. The Company calculates monthly sales per facility by dividing (i) the Company’s aggregate monthly sales of CellerateRX® Surgical Activated Collagen®, FORTIFY TRG® Tissue Repair Graft, FORTIFY FLOWABLE® ECM, TEXAGEN® Amniotic Membrane Allograft, BiFORM® Bioactive Moldable Matrix, AMPLIFY™ Verified Inductive Bone Matrix and ALLOCYTE® Advanced Cellular Bone Matrix (the “Surgical Products”) by (ii) the number of facilities in which the Company generated revenue from sales of its Surgical Products during the month. The Company calculates quarterly sales per facility by averaging the Company’s sales per facility for each month of the quarter.
The information in Item 7.01 of this Current Report on Form 8-K is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that section. Further, the information in Item 7.01 of this Current Report on Form 8-K shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof and regardless of any general incorporation language in such filing. Item 7.01 of this Current Report on Form 8-K will not be deemed an admission as to the materiality of any information in this Current Report on Form 8-K that is required to be disclosed solely by Regulation FD.
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.
| Date: | August 16, 2023 | |||
| Sanara MedTech Inc. | ||||
| By: | /s/ Michael D. McNeil | |||
| Name: | Michael D. McNeil | |||
| Title: | Chief Financial Officer | |||