Associated tags: Sawhorse, Creativity, Consumables, TBLT
Locations: COLOMBIA, BRAZIL, SOUTH AMERICA, ARGENTINA, URUGUAY, PERU, CHILE, UNITED STATES, NEVADA, IRVINE, CA, US
IRVINE, Calif., April 25, 2024 (GLOBE NEWSWIRE) -- Toughbuilt Industries, Inc. (Nasdaq: TBLT), announced that on April 19, 2024, it received a staff determination notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) informing the Company that since the Company has not yet filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the “Annual Report”), the Company was no longer in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”).
Key Points:
- IRVINE, Calif., April 25, 2024 (GLOBE NEWSWIRE) -- Toughbuilt Industries, Inc. (Nasdaq: TBLT), announced that on April 19, 2024, it received a staff determination notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) informing the Company that since the Company has not yet filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the “Annual Report”), the Company was no longer in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”).
- ToughBuilt has 60 calendar days from April 19, 2024, to submit a plan to Nasdaq outlining the Company’s anticipated steps to regain compliance with the Listing Rule.
- The Company plans to submit the plan explaining the strategy to make the required SEC filings, and to regain compliance with the Listing Rule.
- The Company is committed to fulfilling its reporting obligations and anticipates filing the Annual Report at the earliest opportunity, with plans to keep Nasdaq fully informed throughout this process.
Credit line expected to empower ToughBuilt Industries Inc. to strengthen purchasing power by a minimum of $30 million annually.
Key Points:
- Credit line expected to empower ToughBuilt Industries Inc. to strengthen purchasing power by a minimum of $30 million annually.
- IRVINE, Calif., April 02, 2024 (GLOBE NEWSWIRE) -- ToughBuilt Industries, Inc. ("ToughBuilt” or the “Company”) (NASDAQ: TBLT) today announced its strategic alliance with King Trade Capital (“KTC”), securing a line of credit expected to significantly enhance the Company’s procurement, direct import, and order fulfillment capabilities.
- King Trade Capital, the largest independent provider of purchase order finance in the United States, has provided more than $2.5 billion in capital to over 400 public and private companies worldwide.
- Michael Panosian, ToughBuilt’s Co-Founder and Chief Executive Officer, remarked, "We believe our arrangement with King Trade Capital will fuel our agility in sourcing and meeting demand for our current and new customers.
Retrieved on:
Friday, February 16, 2024
H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
Key Points:
- H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
- The gross proceeds to the Company from the offering were approximately $3.5 million, before deducting the placement agent’s fees and other offering expenses payable by ToughBuilt.
- The Company intends to use the net proceeds from this offering for general corporate purposes, including working capital.
- The offering was made only by means of a prospectus, which is part of the effective registration statement.
Retrieved on:
Wednesday, February 14, 2024
The closing of the offering is expected to occur on or about February 16, 2024, subject to the satisfaction of customary closing conditions.
Key Points:
- The closing of the offering is expected to occur on or about February 16, 2024, subject to the satisfaction of customary closing conditions.
- The gross proceeds to the Company from the offering are expected to be approximately $3.5 million, before deducting the placement agent’s fees and other offering expenses payable by ToughBuilt.
- The Company intends to use the net proceeds from this offering for general corporate purposes, including working capital.
- The offering will be made only by means of a prospectus, which is part of the effective registration statement.
Retrieved on:
Tuesday, February 13, 2024
The Company anticipates achieving positive operating cash flow by Q3 2024.
Key Points:
- The Company anticipates achieving positive operating cash flow by Q3 2024.
- IRVINE, Calif., Feb. 13, 2024 (GLOBE NEWSWIRE) -- ToughBuilt Industries, Inc. ("ToughBuilt” or the “Company”) (NASDAQ: TBLT), announced today its goal of achieving positive operating cash flow by the third quarter of fiscal 2024.
- ToughBuilt is also exploring expansion into new markets and engaging with online and brick-and-mortar global retail partners.
- By focusing on the continued sales of our new products in revenue-generating categories, attracting new customers, and implementing efficiency measures while making careful adjustments to pricing, we anticipate achieving positive operating cash flow by Q3 2024.”
Mr. Panosian continued, “Our SG&A cost savings come as the result of lowered shipping rates, consolidated 3PL operations and cutbacks in overhead.
Retrieved on:
Wednesday, January 31, 2024
ToughBuilt entered the Stacking Tool Storage and Toolbox market for the first-time beginning October 19, 2023, disrupting industry competitors and generating millions of online impressions.
Key Points:
- ToughBuilt entered the Stacking Tool Storage and Toolbox market for the first-time beginning October 19, 2023, disrupting industry competitors and generating millions of online impressions.
- The Toolbox category is projected to expand at a CAGR of 8.3% from 2022 to 2032, with an expected market share of USD 6.8 Billion by 2032.
- The line debuted in October through a leading US home improvement retailer, and ToughBuilt expanded the line this January in response to unprecedented demand for this category-defining system.
- Tool Boxes Market by Material, Product Type, End User & Region - Forecast 2022 - 2032- Future Market Insights https://www.globenewswire.com/news-release/2022/07/20/2482850/0/en/Tool-...
Retrieved on:
Tuesday, December 26, 2023
The new CUSIP number for the common stock following the reverse stock split will be 89157G 86 8.
Key Points:
- The new CUSIP number for the common stock following the reverse stock split will be 89157G 86 8.
- Stockholders holding shares through a brokerage account will have their shares of common stock automatically adjusted to reflect the 1-for-65 reverse stock split.
- The reverse stock split will affect all stockholders uniformly and will not alter any stockholder’s percentage interest in the Company’s equity, except to the extent that the reverse stock split would result in a stockholder owning a fractional share.
- The reverse stock split will reduce the number of shares of ToughBuilt’s common stock outstanding from 36,915,222 shares to approximately 567,927 shares.
Retrieved on:
Tuesday, November 14, 2023
IRVINE, Calif., Nov. 14, 2023 (GLOBE NEWSWIRE) -- ToughBuilt Industries, Inc. ("ToughBuilt" or “the Company”) (NASDAQ: TBLT; TBLTW), today reported the Company’s financial results for the fiscal quarter ended September 30, 2023. The Company will host its Q3 2023 earnings conference call today at 5:00 p.m. (ET).
Key Points:
- IRVINE, Calif., Nov. 14, 2023 (GLOBE NEWSWIRE) -- ToughBuilt Industries, Inc. ("ToughBuilt" or “the Company”) (NASDAQ: TBLT; TBLTW), today reported the Company’s financial results for the fiscal quarter ended September 30, 2023.
- Financial Highlights for the Quarter Ended September 30, 2023, include:
Revenues decreased by approximately 32% to $20.6 million for Q3 2023, compared to $30.2 million in Q3 2022.
- Gross profit decreased to approximately 20.0% to $4.9 million in the third quarter of 2023, compared to $7.9 million in the third quarter of 2022.
- Gross margin decreased to approximately 23.8% in the third quarter of 2023, compared to 26.1% in the third quarter of 2022.
Retrieved on:
Monday, November 13, 2023
LAKE FOREST, Calif., Nov. 13, 2023 (GLOBE NEWSWIRE) -- ToughBuilt Industries, Inc. ("ToughBuilt") (NASDAQ: TBLT; TBLTW), today reports that it will hold an earnings call to discuss the Company’s 2023 first quarter financial and operating results on Tuesday, November 14, 2023 at 5:00pm ET.
Key Points:
- LAKE FOREST, Calif., Nov. 13, 2023 (GLOBE NEWSWIRE) -- ToughBuilt Industries, Inc. ("ToughBuilt") (NASDAQ: TBLT; TBLTW), today reports that it will hold an earnings call to discuss the Company’s 2023 first quarter financial and operating results on Tuesday, November 14, 2023 at 5:00pm ET.
- Michael Panosian, Chief Executive Officer, and Martin Galstyan, Chief Financial Officer, will host the conference call to review the Company’s financial and operating results.
- To attend the conference call, please dial one of the teleconference numbers below or follow the live audio webcast here .
- Attendees are encouraged to dial in to the conference call at least five minutes prior to the start time.
Retrieved on:
Tuesday, October 24, 2023
ToughBuilt entered the Stacking Tool Storage and Toolbox market for the first-time beginning October 19th, 2023, with an initial roll out of more than 25 SKUs.
Key Points:
- ToughBuilt entered the Stacking Tool Storage and Toolbox market for the first-time beginning October 19th, 2023, with an initial roll out of more than 25 SKUs.
- StackTech™ is the world’s first auto-locking stacking tool storage solution with 14 unique features.
- IRVINE, Calif., Oct. 24, 2023 (GLOBE NEWSWIRE) -- ToughBuilt Industries, Inc. ("ToughBuilt” or the Company”) (NASDAQ: TBLT; TBLTW), announced today that the Company has released its revolutionary StackTech™ mobile stacking toolbox system.
- ToughBuilt's launch into the stacking Toolbox category has swept social media with an early preview of the product line, garnering more than 19 million impressions in just two weeks.
