AGFY.Agrify CORP

10-K/A: Agrify Corporation Files Amended 10-K/A to Update Audit Reports Following Reverse Stock Split

Sentiment:

10-K/A Filing

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Agrify Corporation amends its annual report on Form 10-K/A to update audit reports and consents related to the retroactive application of a reverse stock split.

Summary

  • Agrify Corporation filed an amendment to its annual report on Form 10-K/A for the year ended December 31, 2024.
  • The amendment updates the audit reports and consents from the company's current and former independent registered public accounting firms.
  • This update relates to the 2023 retroactive application of the reverse stock split completed on October 8, 2024.
  • GuzmanGray, the company's current auditor, dual-dated their audit opinion to cover the additional scope of work, which remains unqualified.
  • The financial statement values and related footnotes remain unchanged from the original filing on March 21, 2025.
  • As of March 17, 2025, there were 1,952,032 shares of the company's common stock outstanding.
  • The aggregate market value of voting and non-voting common equity held by non-affiliates as of June 30, 2024, was approximately $6.3 million.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing, indicating a neutral sentiment. The update of audit reports is a standard procedure.

Positives

  • GuzmanGray issued an unqualified audit opinion after reviewing the retroactive application of the reverse stock split.
  • The company is updating its filings to ensure compliance with SEC regulations.

Future Outlook

The amendment does not reflect events occurring after the filing of the Original Filing, does not update disclosures contained in the Original Filing and does not modify or amend the Original Filing except as specifically described above.

Industry Context

This filing is a routine update to comply with regulatory requirements following a corporate action (reverse stock split). It doesn't provide specific insights into the competitive landscape or industry trends.

Key Dates

DateDescription
June 6, 2016Agrify was formed in the State of Nevada as Agrinamics, Inc.
December 8, 2019Operating Agreement of Agrify-Valiant, LLC dated
December 22, 2020Distribution Agreement dated June 7, 2019 between the Registrant and Bluezone Products, Inc.
March 9, 2020Distribution Agreement dated March 9, 2020 between the Registrant and Enozo Technologies Inc.
July 28, 2020Purchase Agreement dated as of July 28, 2020 between the Registrant and 4D Bios Inc.
January 4, 2021Employment Agreement dated as of January 4, 2021 between the Registrant and Raymond Chang
January 1, 2020Intellectual Property Assignment and Transfer Agreement by and among the Registrant, Agrify Brands, LLC and The Holden Company effective as of January 1, 2020
December 7, 2020Supply Agreement by and among the Registrant and Mack Molding Co. dated December 7, 2020
August 12, 2020Amended and Restated Operating Agreement of Agrify Brands, LLC effective as of August 12, 2020
November 10, 2021Employment Agreement, dated as of November 10, 2021, between the Registrant and Timothy Oakes
September 29, 2021Plan of Merger and Equity Purchase Agreement, dated as of September 29, 2021, among the Registrant, Sinclair Scientific, LLC, Mass2Media, LLC dba PX2 Holdings, LLC, and each of the equity holders of Sinclair Scientific, LLC named therein
October 1, 2021Amendment to Plan of Merger and Equity Purchase Agreement, dated as of October 1, 2021, between the Registrant and Sinclair Scientific, LLC
December 31, 2021Membership Interest Purchase Agreement, dated as of December 31, 2021, among the Registrant, PurePressure, LLC, Benjamin Britton as Member Representative, and each of the equity holders of PurePressure, LLC named therein
January 25, 2022Form of Securities Purchase Agreement, dated as of January 25, 2022, between the Registrant and the Purchasers party thereto
February 1, 2022Merger Agreement, dated as of February 1, 2022, among the Registrant, LS Holdings Corp., Lab Society NewCo, LLC, Michael S. Maibach Jr. as Owner Representative, and each of the Owners named therein
March 14, 2022Form of Securities Purchase Agreement, dated as of March 14, 2022, between the Registrant and High Trail Special Situations LLC
July 8, 2022Separation Agreement of Thomas Massie, dated as of July 8, 2022
July 14, 2022Employment Agreement, dated as of July 14, 2022, between the Registrant and Stuart Wilcox
July 25, 2022Employment Agreement, dated as of July 25, 2022, between the Registrant and Timothy Hayden
August 18, 2022Exchange Agreement, dated as of August 18, 2022, between the Registrant and High Trail Special Situations LLC
October 18, 2022Equity Distribution Agreement, dated as of October 18, 2022, between the Registrant and Canaccord Genuity LLC
January 19, 2023The Company received a deficiency letter from Nasdaq
March 8, 2023Exchange Agreement, dated as of March 8, 2023, between the Registrant and High Trail Special Situations LLC
October 27, 2023Company and Investor Acknowledgment, dated as of October 27, 2023, between the Registrant and CP acquisitions LLC
October 27, 2023Letter Agreement, dated as of October 27, 2023, between the Registrant and High Trail Special Situations LLC
October 18, 2023Modification Agreement, effective as of October 18, 2023, between the Registrant and Mack Molding Company
August 28, 2024Purchase Agreement, dated as of August 28, 2024, by and between Agrify Corporation and Ionic Ventures, LLC
August 28, 2024Registration Rights Agreement, dated as of August 28, 2024, by and between Agrify Corporation and Ionic Ventures, LLC
August 28, 2024Amendment to Pre-Funded Common Stock Purchase Warrant, dated as of August 28, 2024, by and between Agrify Corporation and CP Acquisitions, LLC
August 28, 2024Amendment to Pre-Funded Common Stock Purchase Warrant, dated as of August 28, 2024, by and between Agrify Corporation and GIC Acquisition LLC
August 30, 2024First Amendment to Modification and Settlement Agreement, dated as of August 30, 2024, by and between Agrify Corporation and Mack Molding Company.
September 27, 2024Amendment to Pre-Funded Common Stock Purchase Warrant, dated as of September 27, 2024, by and between Agrify Corporation and CP Acquisitions, LLC
September 27, 2024Amendment to Pre-Funded Common Stock Purchase Warrant, dated as of September 27, 2024, by and between Agrify Corporation and GIC Acquisition LLC
November 5, 2024Severance Agreement, dated November 5, 2024, between Agrify Corporation and Raymond Chang
November 21, 2024Form of Securities Purchase Agreement
November 21, 2024Form of Registration Rights Agreement
December 12, 2024Asset Purchase Agreement, dated as of December 12, 2024, among the registrant, Double or North LLC, Joel Gott, and Charles Bieler
March 21, 2025Original Filing
March 27, 2025Date of Amendment No. 1 on Form 10-K/A

Keywords

10-K/A, amendment, audit reports, reverse stock split, financial statements, Agrify Corporation

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