false
0001355848
0001355848
2024-04-15
2024-04-15
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
NITED 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): April 15, 2024
KARTOON
STUDIOS, INC.
(Exact name of registrant as specified in its charter)
Nevada
(State or other jurisdiction
of incorporation or organization)
|
001-37950
(Commission File Number) |
20-4118216
(I.R.S. Employer Identification No.) |
190
N. Canon Drive, 4th Fl., Beverly
Hills, CA 90210
(Address of principal executive
offices) (Zip Code)
(310) 273-4222
Registrant’s telephone number, including area code
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 |
Common Stock, par value $0.001 per share |
TOON |
NYSE American
LLC |
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 April 15, 2024, Kartoon Studios, Inc. (the
“Company”) issued a press release announcing Kartoon Studios’ partnership with VeVe and Multiverse Clothing Company
Inc. to produce a series of limited-edition Stan Lee digital and physical collectibles to be included in launches aimed for this summer
around San Diego Comic-Con. A copy the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
The information contained in this Item 7.01 including
Exhibit 99.1 hereto, is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act
of 1934 (the “Exchange Act”), as amended, or otherwise subject to the liabilities of that section, and such information shall
not be deemed to be incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended, or
the Exchange Act.
ITEM 9.01 |
FINANCIAL STATEMENTS AND EXHIBITS. |
Forward Looking Statements
This Current Report on Form 8-K contains certain
statements which constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may,"
"might," "will," "should," "believe," "expect," "anticipate," "estimate,"
"continue," "predict," "forecast," "project," "plan," "intend" or similar
expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes
these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are
based on information available to us on the date of this release. These forward looking statements are based upon current estimates and
assumptions and are subject to various risks and uncertainties, including without limitation, our ability to generate revenue or achieve
profitability; our ability to obtain additional financing on acceptable terms, if at all; the potential issuance of a significant number
of shares, which will dilute our equity holders; fluctuations in the results of our operations from period to period; general economic
and financial conditions; our ability to anticipate changes in popular culture, media and movies, fashion and technology; competitive
pressure from other distributors of content and within the retail market; our reliance on and relationships with third-party production
and animation studios; our ability to market and advertise our products; our reliance on third-parties to promote our products; our ability
to keep pace with technological advances; our ability to protect our intellectual property and those other risk factors set forth in the
“Risk Factors” section of the Company’s most recent Annual Report on Form 10-K and in the Company's subsequent filings
with the Securities and Exchange Commission. Thus, actual results could be materially different. The Company expressly disclaims any obligation
to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
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.
|
KARTOON STUDIOS, INC.. |
|
|
Date: April 16, 2024 |
By: |
/s/ Andy Heyward |
|
Name: Andy Heyward |
|
Title: Chief Executive Officer |
Exhibit 99.1
KARTOON STUDIOS’ PARTNERS WITH
WORLD’S
LARGEST DIGITAL COLLECTIBLES PLATFORM, VEVE, AND MULTIVERSE
CLOTHING COMPANY INC. FOR FIRST EVER
LINE OF STAN LEE LIMITED-EDITION
“PHYGITAL”
COLLECTIONS
Collections Include Original Art from Contemporary
Artists- Rob Prior, Burton Morris, and Punk Me
Tender- Who are Creating New Art for Stan Lee
Universe
Beverly Hills, California –
April XX, 2024: Kartoon Studios (NYSE AMERICAN:TOON), the controlling partner of “Stan
Lee Universe, LLC,” partners with VeVe, the global leader in digital collectibles
and comics derived from some of the world’s best known IP, such
as Star Wars, associated with powerhouses, including Disney and Marvel, as well as being the top-grossing Entertainment App in the Google
Play and Apple stores, and groundbreaking Multiverse Clothing Company Inc. to produce a series
of limited-edition Stan Lee digital and physical collectibles to be included in launches aimed for June and July around San Diego Comic-Con.
These exclusive collections will feature never-before-seen by the public
artwork created by three of the most renowned contemporary pop culture artists, Rob Prior, Burton Morris, and Punk Me Tender. Prior and
Morris have had both a professional and personal relationship with Stan Lee over the years, inspiring their own creativity. All three
artists are currently producing Stan Lee limited-edition portraits for the special summer release, as well as creating artwork for the
forthcoming Stan Lee Universe.
The “phygital” collections will blend fine art with smart
fashion and include special digital collectibles by VeVe. The limited-edition apparel lines will come with Easter Eggs that unlock various
value adds for fans. In some cases, lucky fans will discover they are now owners of priceless Stan Lee art signed by these world-famous
artists.
“We have always believed that the Stan Lee Universe will ignite
imaginations in new ways and this innovative deal with VeVe that merges fine art, fandom, and the physical with the digital worlds, alongside
the newly launched Stan Lee Presents channel; dedicated Stan Lee Store on Amazon; and upcoming launch of the Stan Lee Universe stories
are key building blocks to making that a reality,” stated Lloyd Mintz, SVP of Global Consumer Products, Kartoon Studios,
and former Hasbro and Disney consumer products executive. “Stan Lee remains a pioneering force in the industry, and there is a huge
passion around him and all that he stood for. I have not been as enthusiastic about the possibilities of a brand since launching the MONOPOLY
gaming business at Hasbro, which went on to become a ground-breaking success. The possibilities around the Stan Lee brand are endless
as we unlock a treasure trove of a whole new generation of superheroes.”
“VeVe is ecstatic to be the digital partner in this innovative
collaboration. We and our tight knit community of collectors are huge fans of the legendary Stan Lee, having dropped many limited-edition
comics and collectibles borne from the iconic characters & stories he co-created. This exciting collab brings a new dimension of fine
art & fashion to VeVe, whilst introducing new fans into the fun & exciting world of digital collecting. As an avid collector and
fan of Stan Lee, Rob Prior, and Burton Morris – I can’t wait to experience the thrill of this new collection,” noted
David Yu, VeVe’s CEO and co-founder.
Mintz adds: “By weaving their extraordinary works of art
into these physical and digital collections, we are delivering a truly unique opportunity for fans to experience the Stan Lee Universe
in deeper and more immersive ways. This coupled with the idea that a few lucky fans, can find special Easter Eggs in their apparel designs
that allow them to win signed works of art by artists whose works have sold for tens to hundreds of thousands of dollars, just makes these
releases even more extraordinary.”
“Stan was such an iconic trailblazer in his day that it seems
fitting that once again he is paving the way by introducing a revolutionary way for fans to experience his world through fine art, fashion
and digital collectibles” said Tricia Srinivasan, Multiverse Clothing Company Inc’s co-founder.
About Stan Lee
Known by his signature phrase “Excelsior!”, Stan Lee is
one of the most prolific and legendary creators of all time. As Marvel's editor-in-chief, Stan "The Man" Lee helped build a
universe of interlocking continuity, one where fans felt as if they could turn a street corner and run into a superhero from Spider-Man
to the Fantastic Four, Thor, Iron Man, the Hulk, the X-Men, and more. Stan went on to become Marvel’s editorial director and publisher
in 1972 and was eventually named chairman emeritus. He was the co-creator of characters appearing in 4 of the top 10 box office movies
of all time, which featured Spider-Man, Iron Man, the Hulk, Thor, Guardians of the Galaxy, Black Panther, and of course the Avengers,
accounting for billions of dollars of revenue for Marvel and the Walt Disney Company.
About Kartoon Studios
Kartoon Studios (NYSE AMERICAN: TOON) is a global end-to-end creator,
producer, distributor, marketer, and licensor of entertainment brands. The Company’s IP portfolio includes original animated content,
including the Stan Lee brand, Stan Lee’s Superhero Kindergarten, starring Arnold Schwarzenegger, on Kartoon Channel!; Shaq’s
Garage, starring Shaquille O’Neal, on Kartoon Channel!; Rainbow Rangers on Kartoon Channel! and Netflix; the Netflix
Original, Llama Llama, starring Jennifer Garner, and more.
In 2022, Kartoon Studios acquired Canada’s WOW! Unlimited Media
and made a strategic investment becoming the largest shareholder in Germany’s Your Family Entertainment AG (FRA:RTV), one of Europe’s
leading distributors and broadcasters of high-quality programs for children and families.
Toon Media Networks, the company’s wholly owned digital distribution
network, consists of Kartoon Channel!, Frederator Network, and Ameba. Kartoon Channel! is a globally distributed entertainment platform
with near full penetration of the U.S. television market and international expansion underway with launches in key markets around the
world, including Germany, Malaysia, India, Africa and Sub-Sahara Africa, Australia, New Zealand, Philippines, and Maldives. Kartoon Channel!
and Ameba are available across multiple platforms, including iOS, Android Mobile, Web, Amazon Prime Video, Apple TV, Amazon
Fire, Roku, Pluto TV, Comcast, Cox, Dish, Sling TV, Android TV, Tubi, Xumo, Samsung and LG Smart TVs. Frederator
Network owns and operates the largest global animation network on YouTube, with channels featuring over 2,000 exclusive creators and influencers,
garnering billions of views annually.
For additional information, please visit www.kartoonstudios.com
About Veve
Founded in 2018, VeVe was created by
collectors, for collectors to bring premium licensed NFT digital collectibles to the mass market. With over 10
million NFTs sold, VeVe is the largest mobile-first digital collectibles platform and one of the
top grossing Entertainment Apps in the Google Play and Apple stores.
Utilizing both blockchain and augmented
reality technologies, VeVe enables users to buy, sell and play with their Digital Collectibles &
Comics. VeVe has partnered with leading brands including Disney, Marvel, Lamborghini,
Star Wars and more. VeVe’s 3D augmented reality photo mode allows collectors to interact &
play with every digital collectible, as well as share their collectibles through VeVe’s in-app
social feed, or showcase their creativity on social platforms
including Twitter, Instagram, TikTok and more.
In addition, VeVe uses Ethereum’s layer 2 scaling protocol, Immutable
X, which provides instant trade confirmation, scalability (over 9,000 trades per second), zero gas fees, and a 99.9% reduction in environmental
footprint.
Start your digital collecting journey
on the VeVe Digital Collectibles app - available on both iOS and Android or online at www.veve.me/collectibles.
Visit www.veve.me/comics to discover the future of comics.
Learn more: VeVe.me | Twitter | Discord | Facebook | Instagram | Medium
About Multiverse Clothing Company Inc.
Founded in 2022, Multiverse Clothing Company Inc. (MCCI) partners with
world renown IP companies to launch groundbreaking ways to monetize their IP in both the physical and digital realms, whilst greatly enhancing
the fan experience.
Multiverse Clothing Company Inc develops groundbreaking limited-edition
smart fashion using graphic art related to superheroes, comic books, recording artists, animated characters, video game characters, and
athletes. The stylish high-end lined smart apparel collections have built-in utility so that humans and Avatars can unlock experiences,
access content and do so much more.
For additional information, please visit multiverseclothingcompany.com
# # #
Forward-Looking Statements: Certain statements
in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such
as "may," "might," "will," "should," "believe," "expect," "anticipate,"
"estimate," "continue," "predict," "forecast," "project," "plan," "intend"
or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company
believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements,
which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates
and assumptions and are subject to various risks and uncertainties, including without limitation, our ability to generate revenue or achieve
profitability; our ability to obtain additional financing on acceptable terms, if at all; the potential issuance of a significant number
of shares, which will dilute our equity holders; fluctuations in the results of our operations from period to period; general economic
and financial conditions; our ability to anticipate changes in popular culture, media and movies, fashion and technology; competitive
pressure from other distributors of content and within the retail market; our reliance on and relationships with third-party production
and animation studios; our ability to market and advertise our products; our reliance on third-parties to promote our products; our ability
to keep pace with technological advances; our ability to protect our intellectual property and those other risk factors set forth in the
“Risk Factors” section of the Company’s most recent Annual Report on Form 10-K and in the Company's subsequent filings
with the Securities and Exchange Commission (the "SEC"). Thus, actual results could be materially different. The Company expressly
disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required
by law.
MEDIA CONTACT:
pr@kartoonstudios.com
INVESTOR RELATIONS CONTACT:
ir@kartoonstudios.com
v3.24.1.u1
Cover
|
Apr. 15, 2024 |
Cover [Abstract] |
|
Document Type |
8-K
|
Amendment Flag |
false
|
Document Period End Date |
Apr. 15, 2024
|
Entity File Number |
001-37950
|
Entity Registrant Name |
KARTOON
STUDIOS, INC.
|
Entity Central Index Key |
0001355848
|
Entity Tax Identification Number |
20-4118216
|
Entity Incorporation, State or Country Code |
NV
|
Entity Address, Address Line One |
190
N. Canon Drive, 4th Fl.
|
Entity Address, City or Town |
Beverly
Hills
|
Entity Address, State or Province |
CA
|
Entity Address, Postal Zip Code |
90210
|
City Area Code |
(310)
|
Local Phone Number |
273-4222
|
Written Communications |
false
|
Soliciting Material |
false
|
Pre-commencement Tender Offer |
false
|
Pre-commencement Issuer Tender Offer |
false
|
Title of 12(b) Security |
Common Stock, par value $0.001 per share
|
Trading Symbol |
TOON
|
Security Exchange Name |
NYSE
|
Entity Emerging Growth Company |
false
|
X |
- DefinitionBoolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
+ Details
Name: |
dei_AmendmentFlag |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFor the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
+ Details
Name: |
dei_DocumentPeriodEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
+ Details
Name: |
dei_DocumentType |
Namespace Prefix: |
dei_ |
Data Type: |
dei:submissionTypeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAddress Line 1 such as Attn, Building Name, Street Name
+ References
+ Details
Name: |
dei_EntityAddressAddressLine1 |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Definition
+ References
+ Details
Name: |
dei_EntityAddressCityOrTown |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCode for the postal or zip code
+ References
+ Details
Name: |
dei_EntityAddressPostalZipCode |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the state or province.
+ References
+ Details
Name: |
dei_EntityAddressStateOrProvince |
Namespace Prefix: |
dei_ |
Data Type: |
dei:stateOrProvinceItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityCentralIndexKey |
Namespace Prefix: |
dei_ |
Data Type: |
dei:centralIndexKeyItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate if registrant meets the emerging growth company criteria.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityEmergingGrowthCompany |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCommission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
+ Details
Name: |
dei_EntityFileNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:fileNumberItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTwo-character EDGAR code representing the state or country of incorporation.
+ References
+ Details
Name: |
dei_EntityIncorporationStateCountryCode |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarStateCountryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityRegistrantName |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityTaxIdentificationNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:employerIdItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionLocal phone number for entity.
+ References
+ Details
Name: |
dei_LocalPhoneNumber |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 13e -Subsection 4c
+ Details
Name: |
dei_PreCommencementIssuerTenderOffer |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 14d -Subsection 2b
+ Details
Name: |
dei_PreCommencementTenderOffer |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTitle of a 12(b) registered security.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b
+ Details
Name: |
dei_Security12bTitle |
Namespace Prefix: |
dei_ |
Data Type: |
dei:securityTitleItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the Exchange on which a security is registered.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection d1-1
+ Details
Name: |
dei_SecurityExchangeName |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarExchangeCodeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Section 14a -Number 240 -Subsection 12
+ Details
Name: |
dei_SolicitingMaterial |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTrading symbol of an instrument as listed on an exchange.
+ References
+ Details
Name: |
dei_TradingSymbol |
Namespace Prefix: |
dei_ |
Data Type: |
dei:tradingSymbolItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Securities Act -Number 230 -Section 425
+ Details
Name: |
dei_WrittenCommunications |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
Genius Brands (NASDAQ:GNUS)
Historical Stock Chart
From Sep 2024 to Oct 2024
Genius Brands (NASDAQ:GNUS)
Historical Stock Chart
From Oct 2023 to Oct 2024