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Thursday, May 19, 2022

Vinco Ventures, Inc. (BBIG) stock surged in the pre-market; here is why?

Vinco Ventures, Inc. (BBIG) surged in the pre-market after announcing SEC filing submission. BBIG values at $3.02, gaining more than 21.77% from Friday’s closing price. The stock closed at $2.48 at the end of the last trading session. The stock volume traded in the previous trading session was around 23.80 million shares. The current market cap of the company is about $241.25 million.


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BBIG: SEC Filing

The second amendment to Cryptyde’s registration statement on Form 10 (File No. 001-41033) was submitted on March 18, 2022. It comprises the audited financial statements of Ferguson Containers, Inc. and TYDE for the year ended December 31, 2021. The Company hasn’t finished auditing its 2021 consolidated financial statements. The TYDE Financial Statements for the year ending December 31, 2021, will be merged with the Company’s financial statements. TYDE’s financial statements for the years ended December 31, 2021, and 2020 are included as Exhibit 99.1.

As part of its previously announced strategy to spin off its Web3 products and services, Bitcoin mining services, and packaging businesses into a publicly-traded company, TYDE filed Form 10.

To the extent required by Item 2.02, “Results of Operations and Financial Condition,” the Company has supplied Exhibit 99.1. Exhibit 99.1 is not “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended. Unless otherwise specified, this information is not incorporated by reference into any of the Company’s SEC filings. The registrant has duly authorized the undersigned to sign this report on its behalf.

BBIG: Ferguson Fiscal 2021 Results Highlights

  • Its revenue was $7.8 million in 2021 compared to the 2020 revenue of $6.7 million.
  • The company reported a net income of $543,152 in fiscal 2021 compared to the net income of $192,447 in 2020.
  • EPS in 2021 was $1,357.88 in 2021, while EPS in 2020 was $481.12.

BBIG: TYDE’s Fiscal 2021 Results Highlights

  • The company reported no revenue in fiscal 2021.
  • The company reported a net loss of $514,373 in fiscal 2021.
  • Loss per share in 2021 was $51.44 in 2021. 

Conclusion

The company has submitted the second amendment to its previously submitted SEC filing. The company has provided additional information in the new sec filing. Although, the company has not finalized the audit of the company’s consolidated financial statements for the year 2021.  

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