Stingray Group Inc. - 21 Nov 2023 Form 4 Insider Report for SINGING MACHINE CO INC (MICS)

Role
10%+ Owner
Signature
By: /s/ Eric Boyko Name: Eric Boyko Title: President and Chief Executive Officer
Issuer symbol
MICS
Transactions as of
21 Nov 2023
Net transactions value
+$1,000,000
Form type
4
Filing time
24 Nov 2023, 12:46:01 UTC
Previous filing
25 May 2022
Next filing
19 Feb 2025

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MICS Common Stock, $0.01 par value per share ("Common Shares") Purchase $1,000,000 +1,098,901 +341% $0.9100 1,421,124 21 Nov 2023 Direct F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On November 21, 2023, Stingray Group Inc., a Canadian corporation ("Stingray"), purchased from the Issuer 1,098,901 Common Shares at a purchase price of $0.91 per Common Share in connection with the Issuer's private placement pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended, and Rule 506 promulgated thereunder.
F2 In addition to Stingray, this Form 4 is being jointly filed by Eric Boyko, a Canadian citizen ("Boyko"). As of September 30, 2023, indirectly, controlled approximately 56.11% of the combined voting power of Stingray's outstanding shares.
F3 After giving effect to the transactions reported on this Form 4, Stingray directly beneficially owns 1,421,124 Common Shares and 222,223 warrants to purchase Common Shares ("Warrants"). Boyko indirectly beneficially owns 1,421,124 Common Shares (excluding Warrants).
F4 Each reporting person states that neither the filing of this statement nor anything herein shall be deemed an admission that such person is, for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owner of any securities covered by this statement. Boyko disclaims beneficial ownership of the securities covered by this statement, except to the extent of the pecuniary interest of such person in such securities.

Remarks:

Exhibit 99.1 (Joint Filer Information) incorporated herein by reference.