February 18, 2025 · Form 4 insider transaction
Stingray Group Inc. sold 5,494 shares of ALGORHYTHM HLDGS INC at $0.26 per share, a transaction worth $1.4K. The trade was recorded as open-market sale and disclosed on an SEC Form 4, filed 1 day after the transaction.
On February 18, 2025, pursuant to a Stock Repurchase Agreement entered into between Stingray Group Inc. ("Stingray") and the Issuer as of December 3, 2024, Stingray sold to the Issuer 5,494 shares of Common Stock for a price per share equal to $0.26, payable by way of an issuance by the Issuer of a promissory note to Stingray.; In addition to Stingray, this Form 4 is being jointly filed by Eric Boyko, a Canadian citizen ("Boyko"). As of May 31, 2024, Boyko controlled, indirectly or directly, approximately 70.78% of the combined voting power of Stingray's outstanding shares.; After giving effect to the transactions reported on this Form 4, Stingray directly beneficially owns 1,611 Common Shares and 1,111 warrants to purchase Common Shares ("Warrants"). Boyko indirectly beneficially owns 1,611 Common Shares (excluding Warrants).; Each reporting person states that neither the filing of this statement nor anything herein shall be deemed an admission that such person is, for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owner of any securities covered by this statement. Boyko disclaims beneficial ownership of the securities covered by this statement, except to the extent of the pecuniary interest of such person in such securities.