Current Report Filing (8-k)
February 27 2023 - 05:21PM
Edgar (US Regulatory)
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2023-02-27 2023-02-27 0001482541
CEAD:WarrantsToPurchaseCommonStockMember 2023-02-27 2023-02-27
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 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):
February 27, 2023
CEA INDUSTRIES INC.
(Exact
name of registrant as specified in its charter)
|
Nevada |
|
001-41266 |
|
27-3911608 |
(State
or other jurisdiction
of incorporation) |
|
(Commission
File Number) |
|
(I.R.S.
Employer
Identification No.) |
385 South Pierce Avenue,
Suite C
Louisville,
Colorado
80027
(Address
of principal executive offices and zip code)
Registrant’s
telephone number, including area code:
(303)
993-5271
Check
the appropriate box below if the Form 8-K is intended to
simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
|
☐ |
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 Exchange
Act:
|
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
|
Common Stock, $0.00001 par value |
|
CEAD |
|
Nasdaq Capital Market |
|
Warrants to purchase Common Stock |
|
CEADW |
|
Nasdaq Capital Market |
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).
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
8.01 — Other Events
In
recent quarters the Company has experienced declining activity due
to weakness in the macroeconomic environment of the cannabis
market, which is facing increasing competition and declining
wholesale prices as consumers become more sophisticated and
selective when choosing products. The overall controlled
environment agriculture market is also experiencing a fluctuating
economy, rising costs, and the fear of recession that is delaying,
reducing or eliminating capital projects. Additionally, the Company
faces continued supply chain, labor and inflationary issues that
are impacting customers’ contract decisions and implementation. As
a result, the Company has taken cost saving initiatives to reduce
operating expenses and to reduce its workforce so as to preserve
working capital and liquidity without compromising the servicing of
Company clients.
Item
9.01 Financial Statement sand Exhibits
|
(a) |
Not
Applicable |
| |
|
| (b) |
Not
Applicable |
| |
|
| (c) |
Not
Applicable |
| |
|
| (d) |
Exhibits |
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:
February 27, 2023 |
CEA
INDUSTRIES INC. |
|
|
|
|
|
|
By |
/s/
Anthony K. McDonald |
|
|
|
Anthony
K. McDonald |
|
|
|
President
and Chief Executive Officer |
CEA Industries (NASDAQ:CEAD)
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