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Max Gottschalk, a director and substantial shareholder of Perfect Moment Ltd. (NASDAQ:PMNT), recently made a significant purchase of Series AA Preferred Stock. According to a Form 4 filing with the Securities and Exchange Commission, Gottschalk acquired 344,797 shares at a price of $5.8005 each, totaling approximately $1.99 million. The transaction comes as PMNT trades at $1.14, significantly below its 52-week high of $3.52, with a market capitalization of approximately $18.6 million. InvestingPro analysis indicates the company is quickly burning through cash, which makes this insider purchase particularly noteworthy.
The shares were acquired indirectly through Joachim Gottschalk & Associates Ltd., which is entirely owned by the Gottschalk Family Trust. While Gottschalk is a beneficiary of the trust, he disclaims beneficial ownership of the shares beyond his financial interest in the trust. This transaction increases his holdings in the company, reflecting confidence in Perfect Moment’s future prospects.
In other recent news, Perfect Moment Ltd. has successfully raised approximately $6.4 million through a private placement of its 12% Series AA Convertible Preferred Stock. This financing included significant participation from co-founder and chairman Max Gottschalk, who invested $2 million. The funds are intended for strategic growth initiatives and general corporate purposes. In compliance-related developments, Perfect Moment has outlined a plan accepted by NYSE American to address its shortfall in stockholders’ equity, granting the company until June 2026 to meet the listing standards. Additionally, the company has faced compliance issues with NYSE American LLC’s listing standards but has taken steps to resolve these by restructuring its board committees to align with independence requirements.
Perfect Moment also announced the launch of its new puffer tote bag and sunglasses collections, designed to cater to the luxury outerwear market. The puffer bags were developed in collaboration with Venja Heimbeck Holt and aim to offer versatility for various activities. The eyewear collection features sustainable materials and is designed for both performance and style. These initiatives are part of the company’s strategic expansion into the broader luxury lifestyle market. Jane Gottschalk, the company’s President and Chief Creative Officer, has expressed confidence in these developments, emphasizing the brand’s commitment to quality and performance.
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