Wed, Apr 30, 9:18 PM (23 days ago)
### SpringBig Holdings, Inc. (SBIG) 10-K/A Summary **Company Overview:** SpringBig Holdings, Inc. (SBIG) filed an amendment to its annual report, focusing on updates to Part III, including director and executive officer changes, executive compensation, and security ownership. The amendment also includes new certifications by the principal executive and financial officers. **Financial Performance:** - **Revenue and Net Income:** Not explicitly detailed in the amendment. - **Operating Expenses:** Not explicitly detailed in the amendment. - **Earnings Per Share (EPS):** Not explicitly detailed in the amendment. **Strategic Overview:** - **Board Changes:** Significant board changes include the appointment of Jaret Christopher as CEO and the resignation of Jeffrey Harris from the CEO role. The board size increased to six members, with new appointments and resignations. - **Executive Compensation:** Detailed compensation for named executive officers, including base salary, bonuses, and stock awards. Notable changes include the departure of Paul Sykes as CFO and the appointment of Jaret Christopher as CEO. - **Security Ownership:** Major shareholders include Lightbank Asset Management, LLC, Medici Holdings V, Inc., and Tuatara Capital Fund, II, L.P. Executive officers and directors hold significant shares, with Jeffrey Harris and Mark Silver holding the largest stakes. **Future Outlook:** - **CEO Transition:** Jaret Christopher brings extensive leadership experience in SaaS-based businesses and knowledge of the cannabis market, positioning the company for future growth. - **Acquisitions:** The company intends to acquire VICE CRM LLC, an AI-enabled performance marketing platform, which could enhance its market position. **Risk Factors:** - **Market Position:** The company's common stock is no longer listed on Nasdaq, which may affect market visibility and liquidity. - **Executive Transitions:** The departure of key executives like Paul Sykes and Jeffrey Harris could impact operational continuity and strategic direction. **Financial Condition:** - **Capital Structure:** The company has issued Convertible Notes and Term Notes, with significant investments from major shareholders. - **Indebtedness:** The company has loans and notes payable, including a loan from Jeffrey Harris, which was repaid with interest. **Market Position Changes:** - **Board Composition:** The board has undergone significant changes, with new appointments and resignations, which could impact governance and strategic decisions. - **Executive Compensation:** The compensation structure for executives has been updated, reflecting the company's strategic priorities and market conditions. **Conclusion:** SpringBig Holdings, Inc. is navigating significant organizational changes, including executive transitions and board appointments. The company's strategic focus on acquisitions and market positioning, coupled with a strong leadership team, positions it for potential growth. However, the departure of key executives and the delisting from Nasdaq present challenges that the company must address to maintain its market position and financial health.