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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Kaspien Holdings Inc | NASDAQ:KSPN | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.2014 | 0.3015 | 0.3099 | 0 | 01:00:00 |
☒ |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
☐ |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
New York
|
14-1541629
|
|
State or Other Jurisdiction of Incorporation or Organization
|
I.R.S. Employer Identification No.
|
|
2818 N. Sullivan Rd. Ste 130
Spokane Valley, WA
|
99216
|
|
Address of Principal Executive Offices
|
Zip Code
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
Common Stock, $.01 par value per share
|
KSPN
|
NASDAQ Stock Market |
Large accelerated filer ☐
|
Accelerated filer ☐
|
Non-accelerated filer ☒
|
Smaller reporting company ☒
|
Emerging growth company ☐
|
Form 10-Q
Page No.
|
|
PART I. FINANCIAL INFORMATION
|
|
Item 1 – Interim Condensed Consolidated Financial Statements (Unaudited)
|
|
4
|
|
5
|
|
|
|
6
|
|
|
|
7
|
|
|
|
8
|
|
9 | |
22 | |
31 |
|
31 |
|
PART II. OTHER INFORMATION
|
|
32 | |
32 | |
32 | |
33 | |
33 | |
33 | |
33 |
|
36 |
Thirteen Weeks Ended
|
Twenty-Six Weeks Ended
|
|||||||||||||||
July 30,
|
July 31,
|
July 30,
|
July 31,
|
|||||||||||||
2022 |
2021 | 2022 |
2021 |
|||||||||||||
Net revenue
|
$
|
33,907
|
$
|
34,890
|
$ | 65,697 | $ | 75,507 | ||||||||
Cost of sales
|
27,178
|
26,055
|
52,118 | 56,876 | ||||||||||||
Gross profit
|
6,729
|
8,835
|
13,579 | 18,631 | ||||||||||||
Selling, general and administrative expenses
|
10,201
|
10,210
|
20,719 | 20,868 | ||||||||||||
Loss from operations
|
(3,472
|
)
|
(1,375
|
)
|
(7,140 | ) | (2,237 | ) | ||||||||
Interest expense
|
901
|
460
|
1,663 | 1,015 | ||||||||||||
Other (income) loss |
- | (1,963 | ) | - | (1,963 | ) | ||||||||||
Income (loss) before income tax expense
|
(4,373
|
)
|
128
|
(8,803 | ) | (1,289 | ) | |||||||||
Income tax expense
|
43
|
46
|
43 | 46 | ||||||||||||
Net income (loss)
|
|
(4,416
|
)
|
|
82
|
(8,846 | ) | (1,335 | ) | |||||||
BASIC AND DILUTED INCOME (LOSS) PER SHARE:
|
||||||||||||||||
Basic income (loss) per common share
|
$
|
(1.69
|
)
|
$
|
0.03
|
$ | (3.47 | ) | $ | (0.56 | ) | |||||
Weighted average number of common shares outstanding – basic
|
2,613
|
2,491
|
2,553 | 2,404 | ||||||||||||
Diluted income (loss) per common share | $ | (1.69 | ) | $ | 0.03 | $ | (3.47 | ) | $ | (0.56 | ) | |||||
Weighted average number of common shares outstanding – diluted | 2,613 | 2,538 | 2,553 | 2,404 |
Thirteen Weeks Ended
|
Twenty-six Weeks Ended |
|||||||||||||||
July 30,
|
July 31,
|
July 30,
|
July 31,
|
|||||||||||||
2022 |
2021 |
2022 |
2021 |
|||||||||||||
Net income (loss)
|
$
|
(4,416
|
)
|
$
|
82
|
$ | (8,846 | ) | $ | (1,335 | ) | |||||
Amortization of pension gain
|
-
|
-
|
- | - | ||||||||||||
Comprehensive income (loss)
|
$
|
(4,416
|
)
|
$
|
82
|
$ | (8,846 | ) | $ | (1,335 | ) |
Thirteen Weeks Ended July 30, 2022 | ||||||||||||||||||||||||||||||||
Number of shares outstanding
|
Accumulated
|
Retained
|
||||||||||||||||||||||||||||||
Additional
|
Treasury
|
Other
|
Earnings
|
|||||||||||||||||||||||||||||
Common
|
Treasury
|
Common
|
Paid-in
|
Stock
|
Comprehensive
|
(Accumulated
|
Shareholders’
|
|||||||||||||||||||||||||
Shares
|
Shares
|
Stock
|
Capital
|
At Cost
|
Loss
|
Deficit)
|
Equity
|
|||||||||||||||||||||||||
Balance as of April 30, 2022
|
3,903
|
(1,410
|
)
|
$
|
39
|
$
|
360,738
|
$
|
(230,170
|
)
|
$
|
(910
|
)
|
$
|
(125,324
|
)
|
$
|
4,375
|
||||||||||||||
Net income
|
-
|
-
|
-
|
-
|
-
|
-
|
(4,416
|
)
|
(4,416
|
)
|
||||||||||||||||||||||
Issuance of shares, net of expenses
|
-
|
638
|
-
|
(97,127
|
)
|
104,264
|
-
|
-
|
7,137
|
|||||||||||||||||||||||
Common stock issued- Director grants
|
9
|
-
|
-
|
41
|
-
|
-
|
-
|
41
|
||||||||||||||||||||||||
Amortization of unearned compensation/restricted stock amortization
|
-
|
-
|
-
|
71
|
-
|
-
|
-
|
71
|
||||||||||||||||||||||||
Balance as of July 31, 2022
|
3,912
|
$
|
(772
|
)
|
$
|
39
|
$
|
263,723
|
$
|
(125,906
|
)
|
$
|
(910
|
)
|
$
|
(129,740
|
)
|
$
|
7,206
|
Twenty-Six Weeks Ended July 30, 2022
|
||||||||||||||||||||||||||||||||
Number of shares outstanding
|
Accumulated
|
Retained
|
||||||||||||||||||||||||||||||
Additional
|
Treasury
|
Other
|
Earnings
|
|||||||||||||||||||||||||||||
Common
|
Treasury
|
Common
|
Paid-in
|
Stock
|
Comprehensive
|
(Accumulated
|
Shareholders’
|
|||||||||||||||||||||||||
Shares
|
Shares
|
Stock
|
Capital
|
At Cost
|
Loss
|
Deficit)
|
Equity
|
|||||||||||||||||||||||||
Balance as of January 29, 2022
|
3,903
|
(1,410
|
)
|
$
|
39
|
$
|
359,220
|
$
|
(230,170
|
)
|
$
|
(910
|
)
|
$
|
(120,894
|
)
|
$
|
7,285
|
||||||||||||||
Net Loss
|
-
|
-
|
-
|
-
|
-
|
-
|
(8,846
|
)
|
(8,846
|
)
|
||||||||||||||||||||||
Issuance of shares, net of expenses
|
-
|
638
|
-
|
(97,127
|
)
|
104,264
|
-
|
-
|
7,137
|
|||||||||||||||||||||||
Issuance of warrants
|
-
|
-
|
-
|
1,518
|
-
|
-
|
-
|
1,518
|
||||||||||||||||||||||||
Exercise of stock options
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||
Common stock issued- Director grants
|
9
|
-
|
-
|
41
|
-
|
-
|
-
|
41
|
||||||||||||||||||||||||
Amortization of unearned compensation/restricted stock amortization
|
-
|
-
|
-
|
71
|
-
|
-
|
-
|
71
|
||||||||||||||||||||||||
Balance as of July 31, 2022
|
3,912
|
(772
|
)
|
$
|
39
|
$
|
263,723
|
$
|
(125,906
|
)
|
$
|
(910
|
)
|
$
|
(129,740
|
)
|
$
|
7,206
|
Thirteen Weeks Ended July 31,
2021
|
||||||||||||||||||||||||||||||||
Number of shares outstanding
|
Accumulated
|
Retained
|
||||||||||||||||||||||||||||||
Additional
|
Treasury
|
Other
|
Earnings
|
|||||||||||||||||||||||||||||
Common
|
Treasury
|
Common
|
Paid-in
|
Stock
|
Comprehensive
|
(Accumulated
|
Shareholders’
|
|||||||||||||||||||||||||
Shares
|
Shares
|
Stock
|
Capital
|
At Cost
|
Loss
|
Deficit)
|
Equity
|
|||||||||||||||||||||||||
Balance as of May 1, 2021
|
3,889
|
(1,410
|
)
|
$
|
39
|
$
|
358,749
|
$
|
(230,170
|
)
|
$
|
(2,007
|
)
|
$
|
(114,280
|
)
|
$
|
12,332
|
||||||||||||||
Net income
|
-
|
-
|
-
|
-
|
-
|
-
|
82
|
82
|
||||||||||||||||||||||||
Other comprehensive income
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||
Issuance of warrants
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||
Vested restricted shares
|
3
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||
Exercise of stock options
|
2
|
-
|
51
|
-
|
-
|
-
|
51
|
|||||||||||||||||||||||||
Common stock issued- Director grants
|
9
|
-
|
1
|
184
|
-
|
-
|
-
|
184
|
||||||||||||||||||||||||
Amortization of unearned compensation/restricted stock amortization
|
-
|
-
|
-
|
32
|
-
|
-
|
-
|
32
|
||||||||||||||||||||||||
Balance as of July 31, 2021
|
3,903
|
$
|
(1,410
|
)
|
$
|
39
|
$
|
359,016
|
$
|
(230,170
|
)
|
$
|
(2,007
|
)
|
$
|
(114,198
|
)
|
$
|
12,680
|
Twenty-Six Weeks Ended July 31, 2021
|
||||||||||||||||||||||||||||||||
Number of shares outstanding
|
Accumulated
|
Retained
|
||||||||||||||||||||||||||||||
Additional
|
Treasury
|
Other
|
Earnings
|
|||||||||||||||||||||||||||||
Common
|
Treasury
|
Common
|
Paid-in
|
Stock
|
Comprehensive
|
(Accumulated
|
Shareholders’
|
|||||||||||||||||||||||||
Shares
|
Shares
|
Stock
|
Capital
|
At Cost
|
Loss
|
Deficit)
|
Equity
|
|||||||||||||||||||||||||
Balance as of January 30, 2021
|
3,337
|
(1,410
|
)
|
$
|
33
|
$
|
346,495
|
$
|
(230,169
|
)
|
$
|
(2,007
|
)
|
$
|
(112,863
|
)
|
$
|
1,489
|
||||||||||||||
Net Loss
|
-
|
-
|
-
|
-
|
-
|
-
|
(1,335
|
)
|
(1,335
|
)
|
||||||||||||||||||||||
Issuance of warrants
|
138
|
-
|
1
|
- |
(1
|
)
|
-
|
-
|
-
|
|||||||||||||||||||||||
Sales of shares, net of expense
|
417
|
-
|
4
|
12,227
|
-
|
-
|
-
|
12,231
|
||||||||||||||||||||||||
Exercise of stock options
|
2
|
- |
-
|
51
|
-
|
-
|
-
|
51
|
||||||||||||||||||||||||
Common stock issued- Director grants
|
9
|
-
|
1
|
184
|
-
|
-
|
-
|
185
|
||||||||||||||||||||||||
Amortization of unearned compensation/restricted stock amortization
|
-
|
-
|
-
|
59
|
-
|
-
|
-
|
59
|
||||||||||||||||||||||||
Balance as of July 31, 2021
|
3,903
|
$
|
(1,410
|
)
|
$
|
39
|
$
|
359,016
|
$
|
(230,170
|
)
|
$
|
(2,007
|
)
|
$
|
(114,198
|
)
|
$
|
12,680
|
Twenty-Six Weeks Ended
|
||||||||
July 30,
|
July 31,
|
|||||||
2022 |
2021 |
|||||||
OPERATING ACTIVITIES:
|
||||||||
Net loss
|
$
|
(8,846
|
)
|
$
|
(1,335
|
)
|
||
Adjustments to reconcile net loss to net cash used in operating activities:
|
||||||||
Depreciation of fixed assets
|
594
|
710
|
||||||
Amortization of intangible assets
|
-
|
514
|
||||||
Stock-based compensation
|
112
|
243
|
||||||
Amortization of ROU asset
|
321
|
295
|
||||||
Amortization of warrant interest
|
389 | 139 | ||||||
Interest on long term debt
|
612 | 386 | ||||||
Change in cash surrender value
|
386
|
(421
|
)
|
|||||
Forgiveness of PPP Loan
|
- | (1,963 | ) | |||||
Changes in operating assets and liabilities that provide (use) cash:
|
||||||||
Accounts receivable
|
253
|
(88
|
)
|
|||||
Merchandise inventory
|
(86)
|
(509
|
)
|
|||||
Prepaid expenses and other current assets
|
32
|
(492
|
)
|
|||||
Other long-term assets
|
188
|
185
|
||||||
Accounts payable
|
1,740
|
(1,294
|
)
|
|||||
Accrued expenses and other current liabilities
|
(999
|
)
|
(522
|
)
|
||||
Other long-term liabilities
|
(589
|
)
|
(782
|
)
|
||||
Net cash used in operating activities
|
(5,893
|
)
|
(4,934
|
)
|
||||
INVESTING ACTIVITIES:
|
||||||||
Purchases of fixed assets
|
(616 | ) | (743 | ) | ||||
Net cash provided by (used in) investing activities
|
(616 | ) | (743 | ) | ||||
FINANCING ACTIVITIES:
|
||||||||
Proceeds from long term borrowings
|
5,000
|
-
|
||||||
Proceeds from issuance of shares, net of expense
|
7,137 | 12,231 | ||||||
Proceeds from exercise of stock options
|
- | 51 | ||||||
Payments of PPP loan
|
- | (76 | ) | |||||
Payment of short term borrowings
|
(6,111
|
)
|
(6,339
|
)
|
||||
Net cash provided by (used in) financing activities
|
6,026
|
5,867
|
||||||
Net increase (decrease) in cash, cash equivalents, and restricted cash
|
(483
|
)
|
190
|
|||||
Cash, cash equivalents, and restricted cash, beginning of period
|
4,823
|
6,556
|
||||||
Cash, cash equivalents, and restricted cash, end of period
|
$
|
4,340
|
$
|
6,746
|
||||
Supplemental disclosures and non-cash investing and financing activities: |
||||||||
Interest paid |
$ |
386 | $ |
295 | ||||
Warrants issued with debt |
$ |
1,633 | $ |
- |
•
|
We are partner obsessed. Our customers are our partners. Every decision is focused on building mutually beneficial relationships that deliver results.
|
•
|
We are insights driven. We make data actionable. Our curiosity drives us to discover opportunities early and often.
|
•
|
We create simplicity. We challenge the status quo. We take the complicated and simplify it.
|
•
|
We take ownership. We make things happen. We hold ourselves accountable and have a bias for action.
|
•
|
We empower each other. We welcome and learn from diverse experiences. Our empathy ignites innovation and empowers meaningful change.
|
Thirteen Weeks Ended
|
Thirty-six Weeks Ended
|
|||||||||||||||
|
July 30,
|
July 31,
|
July 30,
|
July 31,
|
||||||||||||
(amounts in thousands)
|
2022 |
2021 |
2022 |
2021 |
||||||||||||
Amortized intangible assets:
|
||||||||||||||||
Technology
|
$
|
-
|
$
|
97
|
$
|
-
|
$
|
194
|
||||||||
Trade names and trademarks
|
-
|
160
|
-
|
320
|
||||||||||||
Total amortization expense
|
$
|
-
|
$
|
257
|
$
|
-
|
$
|
514
|
July 30,
|
January 29,
|
July 31,
|
||||||||||
2022 | 2022 |
2021 |
||||||||||
Cash and cash equivalents
|
$
|
1,309
|
$
|
1,218
|
$
|
2,570
|
||||||
Restricted cash
|
3,031
|
3,605
|
4,176
|
|||||||||
Total cash, cash equivalents and restricted cash
|
$
|
4,340
|
$
|
4,823
|
$
|
6,746
|
Employee Stock Award Plans
|
||||||||||||||||||||
Number of
Shares
Subject To
Option
|
Weighted Average
Exercise
Price
|
Weighted Average
Remaining Contractual
Term
|
Other
Share
Awards (1) |
Weighted
Average
Grant Fair
Value
|
||||||||||||||||
Balance January 29, 2022
|
85,965
|
$
|
13.41
|
7.5
|
90,000 |
$ | 15.39 | |||||||||||||
Granted
|
18,750
|
6.16
|
9.9
|
9,000 | 4.59 | |||||||||||||||
Forfeited
|
(17,880
|
)
|
6.50
|
9.1
|
(56,500 | ) | 13.79 | |||||||||||||
Canceled
|
(17,306
|
)
|
15.56
|
-
|
- | - | ||||||||||||||
Exercised
|
-
|
-
|
-
|
(9,000 | ) | 4.59 | ||||||||||||||
Balance July 30, 2022
|
69,529
|
$
|
11.28
|
8.2
|
33,500 | $ | 18.08 | |||||||||||||
Exercisable July 30, 2022
|
30,059
|
$
|
18.70
|
7.1
|
- | $ | - |
Exercise
|
Number
|
|||
Price
|
Outstanding
|
|||
$
|
0.001
|
1,818,182
|
||
$
|
0.01
|
327,539
|
||
$
|
0.125
|
2,457,160
|
||
4,602,881
|
Thirteen Weeks Ended
|
Twenty-six Weeks Ended
|
|||||||||||||||
(amounts in thousands)
|
July 30,
|
July 31,
|
July 30,
|
July 31,
|
||||||||||||
|
2022 |
2021 |
2022 |
2021 |
||||||||||||
|
$
|
89
|
$
|
63
|
$
|
178
|
$
|
126
|
||||||||
Net periodic pension cost
|
$
|
89
|
$
|
63
|
$
|
178
|
$
|
126
|
● |
We are partner obsessed. Our customers are our partners. Every decision is focused on building mutually beneficial relationships that deliver results.
|
● |
We are insights driven. We make data actionable. Our curiosity drives us to discover opportunities early and often.
|
● |
We create simplicity. We challenge the status quo. We take the complicated and simplify it.
|
● |
We take ownership. We make things happen. We hold ourselves accountable and have a bias for action.
|
● |
We empower each other. We welcome and learn from diverse experiences. Our empathy ignites innovation and empowers meaningful change.
|
Thirteen Weeks Ended
|
Change
|
Twenty-Six Weeks Ended
|
Change
|
|||||||||||||||||||||||||||||
(amounts in thousands)
|
July 30, 2022
|
July 31, 2021
|
$ |
|
%
|
July 30, 2022
|
July 31, 2021
|
$ |
|
%
|
||||||||||||||||||||||
Net Revenue
|
$
|
33,907
|
$
|
34,890
|
$
|
(983
|
)
|
-2.8
|
%
|
$
|
65,697
|
$
|
75,507
|
$
|
(9,810
|
)
|
-13.0
|
%
|
||||||||||||||
|
||||||||||||||||||||||||||||||||
Gross profit
|
6,729
|
8,835
|
(2,106
|
)
|
-23.8
|
%
|
13,579
|
18,631
|
(5,052
|
)
|
-27.1
|
%
|
||||||||||||||||||||
% to sales
|
19.8
|
%
|
25.3
|
%
|
20.7
|
%
|
24.7
|
%
|
Thirteen weeks ended
|
Twenty-six weeks ended
|
|||||||||||||||||||||||||||||||||||||||
July 30, 2022
|
July 31, 2021
|
Change
|
July 30, 2022
|
Jul 31, 2021
|
Change
|
|||||||||||||||||||||||||||||||||||
Amazon US
|
$
|
31,978
|
94.3
|
%
|
$
|
32,642
|
93.6
|
%
|
-2.0
|
%
|
$
|
61,598
|
93.8
|
%
|
$
|
70,158
|
92.9
|
%
|
-12.2
|
%
|
||||||||||||||||||||
Amazon International
|
992
|
2.9
|
%
|
1,289
|
3.7
|
%
|
-23.0
|
%
|
2,279
|
3.5
|
%
|
3,557
|
4.7
|
%
|
-35.9
|
%
|
||||||||||||||||||||||||
Other Marketplaces
|
350
|
1.0
|
%
|
507
|
1.5
|
%
|
-31.0
|
%
|
780
|
1.2
|
%
|
885
|
1.2
|
%
|
-11.9
|
%
|
||||||||||||||||||||||||
Subtotal Retail as a Service
|
33,320
|
98.3
|
%
|
34,438
|
98.7
|
%
|
-3.2
|
%
|
64,657
|
98.4
|
%
|
74,600
|
98.8
|
%
|
-13.3
|
%
|
||||||||||||||||||||||||
Subscriptions
|
587
|
1.7
|
%
|
452
|
1.3
|
%
|
29.8
|
%
|
1,040
|
1.6
|
%
|
907
|
1.2
|
%
|
14.7
|
%
|
||||||||||||||||||||||||
Net revenue
|
$
|
33,907
|
100.0
|
%
|
$
|
34,890
|
100.0
|
%
|
-2.8
|
%
|
$
|
65,697
|
100.0
|
%
|
$
|
75,507
|
100.0
|
%
|
-13.0
|
%
|
Thirteen Weeks Ended
|
Change
|
Twenty six Weeks
|
Change
|
|||||||||||||||||||||||||||||
(amounts in thousands)
|
July 30, 2022
|
July 31, 2021
|
$ |
|
%
|
July 30, 2022
|
Jul 31, 2021
|
$ |
|
%
|
||||||||||||||||||||||
Merchandise margin
|
$
|
14,121
|
$
|
15,936
|
$
|
(1,815
|
)
|
-11.4
|
%
|
$
|
28,167
|
$
|
34,656
|
$
|
(6,489
|
)
|
-18.7
|
%
|
||||||||||||||
% of net revenue
|
41.6
|
%
|
45.7
|
%
|
4.1
|
%
|
42.9
|
%
|
45.9
|
%
|
-3.0
|
%
|
||||||||||||||||||||
Fulfillment fees
|
(4,655
|
)
|
(5,393
|
)
|
738
|
-13.7
|
%
|
(9,222
|
)
|
(11,843
|
)
|
2,621
|
-22.1
|
%
|
||||||||||||||||||
Warehousing and freight
|
(2,739
|
)
|
(1,708
|
)
|
(1,031
|
)
|
60.4
|
%
|
(5,366
|
)
|
(4,182
|
)
|
(1,184
|
)
|
28.3
|
%
|
||||||||||||||||
Gross profit
|
$
|
6,727
|
$
|
8,835
|
$
|
(2,108
|
)
|
-23.9
|
%
|
$
|
13,579
|
$
|
18,631
|
$
|
(5,052
|
)
|
-27.1
|
%
|
||||||||||||||
% of net revenue
|
19.8
|
%
|
25.3
|
%
|
20.7
|
%
|
24.7
|
%
|
Thirteen Weeks Ended
|
Change
|
Twenty-Six Weeks Ended
|
Change
|
|||||||||||||||||||||||||||||
(amounts in thousands)
|
July 30, 2022
|
July 31, 2021
|
$ |
|
%
|
July 30, 2022
|
July 31, 2021
|
$ |
|
%
|
||||||||||||||||||||||
Selling expenses
|
$
|
4,876
|
$
|
5,085
|
$
|
(209
|
)
|
-4.1
|
%
|
$
|
9,477
|
$
|
10,991
|
$
|
(1,514
|
)
|
-13.8
|
%
|
||||||||||||||
General and administrative expenses
|
5,325
|
5,125
|
200
|
3.9
|
%
|
11,242
|
9,877
|
1,365
|
13.8
|
%
|
||||||||||||||||||||||
Total SG&A expenses
|
$
|
10,201
|
$
|
10,210
|
$
|
(9
|
)
|
-0.1
|
%
|
$
|
20,719
|
$
|
20,868
|
$
|
(149
|
)
|
-0.7
|
%
|
||||||||||||||
As a % of total revenue
|
30.1
|
%
|
29.3
|
%
|
31.5
|
%
|
27.6
|
%
|
As of or for the
|
|||||||||||||
Twenty-Six Weeks Ended
|
Change
|
||||||||||||
(amounts in thousands)
|
July 30,
|
July 31,
|
|||||||||||
2022
|
2021
|
$ | |||||||||||
Operating Cash Flows
|
$
|
(5,893
|
)
|
$
|
(4,934
|
)
|
$
|
(959
|
)
|
||||
Investing Cash Flows
|
(616
|
)
|
(743
|
)
|
127
|
||||||||
Financing Cash Flows
|
6,026
|
5,867
|
159
|
||||||||||
Capital Expenditures(1)
|
(616
|
)
|
(743
|
)
|
127
|
||||||||
Cash, Cash Equivalents, and Restricted Cash
|
(2 | ) |
4,340
|
6,746
|
(2,406
|
)
|
|||||||
Merchandise Inventory (2)
|
26,672
|
25,024
|
1,648
|
||||||||||
(1) Included in Investing Cash Flows
|
|||||||||||||
(2) Cash and cash equivalents per condensed consolidated balance sheets
|
$
|
1,309
|
$
|
2,570
|
$
|
(1,261
|
)
|
||||||
Add: restricted cash
|
3,031
|
4,176
|
(1,145
|
)
|
|||||||||
Cash, cash equivalents, and restricted cash
|
$
|
4,340
|
$
|
6,746
|
$
|
(2,406
|
)
|
Item 1A – |
Risk Factors
|
Item 2 – |
Unregistered Sales of Equity Securities and Use of Proceeds
|
Item 3 – |
Defaults Upon Senior Securities
|
Item 4 – |
Mine Safety Disclosure
|
Item 5 – |
Other Information
|
Item 6 – |
Exhibits
|
1. |
Exhibits -
|
Exhibit No. | Description |
Certificate of Amendment of Certificate of Incorporation of Kaspien Holdings Inc., dated March 8, 2022 (incorporated by reference to Exhibit 3.1 of the Company’s Form 8-K dated March 8, 2022).
|
|
Amendment No. 4 to Bylaws of Kaspien Holdings Inc. (incorporated by reference to Exhibit 3.2 of the Company’s Form 8-K dated August 2, 2022).
|
10.1 |
Engagement Agreement dated July 11, 2022 (incorporated by reference to Exhibit 10.1 of the Company's Form 8-K dated July 14, 2022). |
10.2 |
Securities Purchase Agreement (PIPE), dated July 12, 2022, by and among the Company and the purchasers party thereto (incorporated by reference to
Exhibit 10.2 of the Company's Form 8-K dated July 14, 2022). |
Securities Purchase Agreement (Registered Offering), dated July 12, 2022, by and among the Company and the purchasers party thereto (incorporated by reference to Exhibit 10.3 of the Company’s Form 8-K dated
July 14, 2022).
|
|
10.4 |
Form of Investor Warrant (PIPE) (incorporated by reference to Exhibit 10.4 of the Company's Form 8-K dated July 14, 2022). |
Form of Pre-Funded Warrant (PIPE) (incorporated by reference to Exhibit 10.5 of the Company’s Form 8-K dated July 14, 2022).
|
|
10.6 |
Form of Pre-Funded Warrant (Registered Offering) (incorporated by reference to Exhibit 10.6 of the Company’s Form 8-K dated July 14, 2022). |
Registration Rights Agreement, dated July 12, 2022, by and among the Company and the purchasers party thereto (incorporated by reference to Exhibit 10.7 of the Company’s Form 8-K dated July 14, 2022).
|
|
10.8 |
Form of Lockup Agreement (incorporated by reference to Exhibit 10.8 of the Company’s Form 8-K dated July 14, 2022).
|
10.9 |
Voting Agreement (incorporated by reference to Exhibit 10.1 of the Company’s Form 8-K dated August 2, 2022). |
10.10 |
2005 Long Term Incentive and Share Award Plan, as amended and restated August 2, 2022 (incorporated by reference to Exhibit 10.2 of the Company’s Form 8-K dated August 2, 2022). |
KASPIEN HOLDINGS INC.
|
||
September 13, 2022
|
By: /s/ Brock Kowalchuk
|
|
Brock Kowalchuk
|
||
Principal Executive Officer
|
||
(Principal Executive Officer)
|
||
September 13, 2022
|
By: /s/ Edwin Sapienza
|
|
Edwin Sapienza
|
||
|
Chief Financial Officer
|
|
|
(Principal and Chief Accounting Officer)
|
1 Year Kaspien Chart |
1 Month Kaspien Chart |
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