Kartoon Studios Inc SEC Filings

Anthony D. Thomopoulos, a director of Kartoon Studios, Inc. (ticker: TOON), reported an acquisition of 3,314 shares of the issuer's common stock on 09/08/2025. Following the reported transaction, Mr. Thomopoulos beneficially owns 116,616 shares. The Form 4 is signed on 09/09/2025. The filing notes that the company completed a 10-for-1 reverse stock split effective February 6, 2023, which converted every ten pre-split shares into one post-split share. The reported non-derivative transaction is listed with a price of $0 on the form and is recorded as an acquisition (code A), with ownership shown as direct.

Kartoon Studios, Inc. (TOON) submitted an 8-K disclosing the inclusion of an Employment Agreement with Andy Heyward dated August 25, 2025, filed as Exhibit 10.1, and an interactive cover page XBRL file (Exhibit 104). The filing lists standard checkboxes for Rule 425, Rule 14a-12, Rule 14d-2(b), and Rule 13e-4(c) communications but does not indicate that any of those categories apply. The document provides the exhibit descriptions and signatures by Michael Jaffa as General Counsel, but it does not include the text of the employment agreement or additional details about terms, compensation, responsibilities, or material effects on the company.

Armistice Capital, LLC and Steven Boyd report a 5.18% beneficial stake in Kartoon Studios, Inc. The filing shows Armistice Capital (as investment manager) and Steven Boyd (managing member) beneficially own 2,473,801 shares of Kartoon Studios common stock, based on 47,793,720 shares outstanding as reported by the issuer. The reporting persons state the shares are held by Armistice Capital Master Fund Ltd., for which Armistice Capital exercises shared voting and dispositive power under an investment management agreement; the Master Fund disclaims direct beneficial ownership due to that agreement. The filing is submitted on a Schedule 13G/A and certifies the holdings were acquired in the ordinary course of business.

Kartoon Studios, Inc. filed a Form 8-K to furnish a press release announcing its results for the quarter ended June 30, 2025. The press release is attached as Exhibit 99.1 and is incorporated by reference, but the financial details are contained in that exhibit rather than in the body of this report.

The company clarifies that the information in this Form 8-K, including Exhibit 99.1, is being furnished, not filed, so it is not subject to certain liability provisions of the Exchange Act and is not automatically incorporated into other securities filings. The report also includes standard forward-looking statement language, highlighting risks such as the company’s ability to generate revenue or achieve profitability, obtain additional financing, potential dilution from issuing additional shares, competitive pressures in media and content distribution, and reliance on third-party production, promotion, and technology partners, as further described in its Annual Report on Form 10-K and later SEC filings.

Kartoon Studios, Inc. reported consolidated revenue of $10.3 million for the three months ended June 30, 2025, up from $8.4 million a year earlier, and $19.8 million for the six months ended June 30, 2025, up from $14.5 million. The increase was driven by growth in Production Services, which rose to $7.4 million for the quarter, with other streams including Content Distribution and Media Advisory contributing to overall sales.

Despite revenue growth, the company recorded a net loss of $6.3 million for the quarter and $12.9 million for the six months, and reported cash and restricted cash of $2.6 million at June 30, 2025. Working capital was negative $4.9 million and accumulated deficit totaled $752.0 million. Management disclosed substantial doubt about the Company’s ability to continue as a going concern for at least one year and described plans to pursue financings, asset sales (including 1,500,000 YFE shares sold subsequent to period end) and cost savings to improve liquidity.