Kartoon Studios, Inc. 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Market Information 22 Table of Contents On June 23, 2023, we were renamed Kartoon Studios, Inc. On June 26, 2023, we transferred our listing to NYSE American LLC (“NYSE American”). In connection with listing on NYSE American, we voluntarily delisted from the Nasdaq Capital Market (“Nasdaq”). Our common stock began trading on NYSE American under the new symbol “TOON” on June 26, 2023. On February 6, 2023, our board of directors approved a 1-for-10 reverse stock split of our outstanding shares of common stock. The reverse stock split was effected on February 10, 2023 at 5:00 p.m. Eastern time. At the effective time, every 10 issued and outstanding shares of our common stock were converted into one share of common stock. Any fractional shares of common stock resulting from the reverse stock split were rounded up to the nearest whole post-split share and no shareholders received cash in lieu of fractional shares. The par value of each share of common stock remained unchanged. The reverse stock split proportionately reduced the number of shares of authorized common stock from 400,000,000 to 40,000,000 shares. The reverse split also applied to common stock issuable upon the exercise of our outstanding warrants and stock options. The reverse split did not affect the authorized preferred stock of 10,000,000 shares. Unless noted, all references to shares of common stock and per share amounts contained in this Annual Report on Form 10-K have been retroactively adjusted to reflect a 1-for-10 reverse stock split. Stockholders As of April 5, 2024, there were approximately 188 stockholders of record of our common stock, although there is a significantly larger number of beneficial owners of our common stock. Dividends We have never declared or paid any cash dividends on our capital stock, and we do not currently anticipate paying any cash dividends in the foreseeable future. Equity Compensation Plan Information Information about our equity compensation plans is incorporated herein by reference to Part III, Item 12 of this Annual Report. Recent Sales of Unregistered Securities On October 3, 2023, we issued 1,683 shares of common stock valued at $1.39 per share for production services. On October 16, 2023, we issued 4,545 shares of common stock valued at $1.32 per share for production services. On October 23, 2023, we issued 2,340 shares of common stock valued at $1.00 per share for production services. On October 31, 2023, we issued 9,218 shares of common stock valued at $0.99 per share for production services. On November 6, 2023, we issued 4,239 shares of common stock valued at $1.12 per share for production services. On November 15, 2023, we issued 5,505 shares of common stock valued at $1.09 per share for production services. On November 16, 2023, we issued 2,867 shares of common stock valued at $1.09 per share for production services. On November 20, 2023, we issued 4,263 shares of common stock valued at $1.09 per share for production services. On November 30, 2023, we issued 5,563 shares of common stock valued at $1.64 per share for production services. On December 1, 2023, we issued 2,792 shares of common stock valued at $1.64 per share for production services. On December 15, 2023, we issued 8,432 shares of common stock valued at $1.52 per share for production services. 23 Table of Contents In each case, the issuance of the shares of common stock was exempt from registration pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. Company Purchases of Equity Securities The table below summarizes such repurchase during the quarterly period ended December 31, 2023: Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Maximum Number (or Approximate Dollar Value) of Shares That May Yet Be Purchased Under the Plans or Programs October 1, 2023 - October 31, 2023 – – – – November 1, 2023 – November 30, 2023 – – – – December 1, 2023 - December 31, 2023 – – – – Total – $ – – – Item 6. [Reserved] 24 Table of Contents