Item 2.02 Results of Operations and Financial Condition.
On August 13, 2020, Liberated Syndication, Inc. (the "Company"). issued a press
release announcing its financial results for the quarter ended June 30, 2020. A
copy of the press release is attached as Exhibit 99.1 to this Current Report on
Form 8-K.
The information disclosed under this Item 2.02 (including Exhibit 99.1) is
furnished pursuant to Item 2.02 and shall not be deemed filed for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), or incorporated by reference into any filing under the Securities Act of
1933, as amended, or the Exchange Act, except as shall be expressly set forth by
specific reference in such filing.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 10, 2020, the Company announced the appointment of Laurie A. Sims as
the Company's President, Chief Operating Officer and Principal Executive
Officer, effective as of August 10, 2020.
Ms. Sims, age 52, has been employed by the Company since its spin-off from FAB
Universal Corp. in 2016 (the "Spin-off"). In 2007, she joined Wizzard Software,
the parent company of Webmayhem, Inc. ("Libsyn"), which became a wholly-owned
subsidiary of the Company in the Spin-off, as general manager. In 2008, Ms. Sims
was promoted to President of Libsyn. In 2017, upon the Company's acquisition of
Pair Networks Inc. ("Pair"), she also became the President of Pair.
There is no arrangement or understanding between Ms. Sims and any other person
pursuant to which Ms. Sims was selected as the Company's President, Chief
Operating Officer and Principal Executive Officer. Ms. Sims has no family
relationships with any director or executive officer of the Company. In
addition, Ms. Sims has no direct or indirect material interest in any
transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
The Company has begun a global search for the Company's new Chief Executive
Officer.
Item 7.01 Regulation FD Disclosure.
On August 10, 2020, the Company announced the appointment of current director
Brad Tirpak as the Chairman of the Board of Directors of the Company. Attached
hereto as Exhibit 99.2 is a press release issued by the Company on August 10,
2020 announcing the appointments of Ms. Sims and Mr. Tirpak.
The information under Item 7.01 (including Exhibit 99.2) is furnished pursuant
to Item 7.01 and shall not be deemed filed for purposes of Section 18 of the
Exchange Act, or incorporated by reference into any filing under the Securities
Act of 1933, as amended, or the Exchange Act, except as shall be expressly set
forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Number
Description
99.1
Press Release, dated August 13, 2020.
99.2
Press Release, dated August 10, 2020.
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