Point.360 (OTCMKTS:PTSX) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On May 9, 2017, Point.360’s (the “Company”) board of directors approved an amendment to our Rights Agreement to extend the “Final Expiration Date” (as defined) of the Rights Agreement from August 6, 2017 to September 1, 2027.
Item 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
On May 11, 2017, Point.360 issued a press release announcing financial results for the three and nine month periods ended March 31, 2017. Included in the press release issued by the Company and furnished herewith as Exhibit 99.1 are certain non-GAAP financial measures.
Management of the Company believes such non-GAAP financial measures are useful to investors in assessing the financial condition and results of operations and because they present certain cash flow and balance sheet statistics, and effects of unusual transactions.
Item 3.03. MATERIAL MODIFICATION TO RIGHTS OF SECURITY HOLDERS
See the discussion in Item 1.01, above, which information is incorporated herein by reference.
Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
99.1 Press release dated May 11, 2017
About Point.360 (OTCMKTS:PTSX)
Point.360 is a media management services company. The Company is engaged in providing film, video and audio post-production, archival, duplication and data distribution services to motion picture studios, television networks, independent production companies and multinational companies. The Company operates through two segments: Point.360 and Movie>Q. The Company’s Point.360 segment provides high definition and standard definition digital mastering, data conversion, video and film asset management, distribution and other services to owners, producers and distributors of entertainment and advertising content. The Company’s Movie>Q segment rents and sells digital versatile disks (DVDs) directly to consumers through its retail stores. The Company provides the services necessary to edit, master, reformat and archive its clients’ audio, video, and film content, which include television programming, feature films and movie trailers. Point.360 (OTCMKTS:PTSX) Recent Trading Information
Point.360 (OTCMKTS:PTSX) closed its last trading session 00.000 at 0.190 with shares trading hands.