UNITED STATES | |||
SECURITIES AND EXCHANGE COMMISSION | |||
Washington, D.C. 20549 | OMB APPROVAL | ||
OMB Number: | 3235-0058 | ||
FORM 12b-25 | Expires: | April 30, 2025 | |
Estimated average burden | |||
Hours per form | 2.50 |
NOTIFICATION OF LATE FILING | SEC FILE NUMBER | |
001-38125 | ||
CUSIP NUMBER | ||
16842Q100 |
(Check One): ¨ Form 10-K ¨ Form 20-F ¨ Form 11-K x Form 10-Q ¨ Form 10-D ¨ Form N-SAR ¨ Form N-CSR
For Period Ended: September 30, 2023
¨ Transition Report on Form 10-K
¨ Transition Report on Form 20-F
¨ Transition Report on Form 11-K
¨ Transition Report on Form 10-Q
¨ Transition Report on Form N-SAR
For the Transition Period Ended:
Read Instructions (on back page) Before Preparing Form. Please Print or Type. Nothing in this form shall be construed to imply that the Commission has verified any information contained herein. |
If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates: N/A
PART I – REGISTRANT INFORMATION
Chicken Soup for the Soul Entertainment, Inc.
Full Name of Registrant
N/A
Former Name if Applicable
132 E. Putnam Ave.
Address of Principal Executive Office (Street and Number)
Cos Cob, Connecticut 06807
City, State and Zip Code
PART II – RULES 12b-25 (b) AND (c)
If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)
(a) | The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense; | |
x | (b) | The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and |
(c) | The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable. |
PART III – NARRATIVE
State below in reasonable detail the reasons why the Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period. (Attach extra sheets if needed)
Chicken Soup for the Soul Entertainment, Inc. (the “Company”) has determined that it is unable, without unreasonable effort or expense, to file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 (“Form 10-Q”) by the prescribed due date because preparation of the 10-Q would have diverted the attention of the Company’s management from certain important strategic efforts it has been undertaking. Such strategic undertakings have required a significant amount of management's time that was to have been utilized for the preparation of the Form 10-Q, including consideration of the matters described in the attachment hereto pursuant to PART IV (3) below, and delayed the preparation of the unaudited financial statements for the quarter ended September 30, 2023. As a result, the Company requires additional time to complete analysis relating to its quarter-end financial reporting processes and compile and verify the data required to be included in the Form 10-Q.
PART IV – OTHER INFORMATION
(1) | Name and telephone number of person to contact in regard to this notification |
Jason Meier | (203) | 861-4000 | |||
(Name) | (Area Code) | (Telephone Number) |
(2) | Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s). | x Yes ¨ No |
(3) | Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? | x Yes ¨ No |
If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.
Due to lower Company performance than expected, principally related to lower kiosk rentals at Redbox, the Company is undertaking a review of the recoverability of goodwill and certain intangible assets and as such, is currently unable to provide a range of results for the third quarter of 2023. The Company does expect Q3 2023 reported net revenue to be materially less and loss per share to be materially greater, as compared to the third quarter of 2022, due to the impacts from the acquisition of Redbox in August of 2022 (i.e., partial impact in Q3 2022 vs. a full quarter impact in the Q3 of 2023), as well as any potential impairment identified. |
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Chicken Soup for the Soul Entertainment, Inc.
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.
Date: November 14, 2023 | By: | /s/ Jason Meier |
Jason Meier, CFO |
INSTRUCTION: The form may be signed by an executive officer of the registrant or by any other duly authorized representative. The name and title of the person signing the form shall be typed or printed beneath the signature. If the statement is signed on behalf of the registrant by an authorized representative (other than an executive officer), evidence of the representative’s authority to sign on behalf of the registrant shall be filed with the form.
ATTENTION Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001). |
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