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UNITED 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): August 17, 2021

 

Harbor Custom Development, Inc.
(Exact name of registrant as specified in its charter)

 

Washington   001-39266   46-4827436

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

11505 Burnham Dr., Suite 301

Gig Harbor, Washington 98332

(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code (253) 649-0636

 

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   HCDI   The Nasdaq Stock Market LLC
  8.0% Series A Cumulative Convertible Preferred Stock   HCDIP   The Nasdaq Stock Market LLC
  Warrants   HCDIW   The Nasdaq Stock Market 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 August 17, 2021, Sterling Griffin, President and Chief Executive Officer of Harbor Custom Development, Inc. (the “Company”), discussed the Company’s second quarter of 2021 financial results and outlook during an earnings call (the “Earnings Call”). During the Earnings Call, Mr. Griffin announced that the Company anticipates having third and fourth quarters with net income in both quarters exceeding the net income of $1,069,400 in the second quarter. For year-end gross revenues, per previous guidance, the Company continues to anticipate approximately $80 million in total sales for 2021. Last, the Company’s objective for 2022 is to double the 2021 revenues to $160 million. Management will provide additional guidance for 2022 on the next earnings call.

 

The information contained in this Current Report on Form 8-K pursuant to this “Item 7.01 Regulation FD Disclosure” is being furnished. This information shall not be deemed to be filed for the purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section or shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, unless specifically identified therein as being incorporated by reference.

 

FORWARD LOOKING STATEMENTS

 

Forward-Looking Statements

 

Certain statements herein constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “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. These forward-looking statements are based upon current estimates and assumptions. Specifically included are statements regarding anticipated income and revenues for 2021 and 2022. 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 subject to various risks and uncertainties, including without limitation those set forth in the Company’s 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.

 

  Harbor Custom Development, Inc.
     
Date: August 18, 2021 By: /s/ Jeff Habersetzer
    Jeff Habersetzer
    General Counsel and Secretary

 

 

 

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