Technology -
Hardware, Equipment & Parts - NASDAQ - US
$ 0.02155
0 %
$ 83.4 K
Market Cap
-0.02
P/E
1. INTRINSIC VALUE
2. FUNDAMENTAL
ANALYSIS
Price Chart SMIT
FINANCIALS
Balance Sheet
Schmitt Industries, Inc.
| Current Assets | 4.01 M |
| Cash & Short-Term Investments | 1.05 M |
| Receivables | 752 K |
| Other Current Assets | 2.2 M |
| Non-Current Assets | 18.8 M |
| Long-Term Investments | 0 |
| PP&E | 17.8 M |
| Other Non-Current Assets | 1.04 M |
| Current Liabilities | 5.83 M |
| Accounts Payable | 844 K |
| Short-Term Debt | 1.98 M |
| Other Current Liabilities | 3.01 M |
| Non-Current Liabilities | 16.4 M |
| Long-Term Debt | 16.4 M |
| Other Non-Current Liabilities | 0 |
EFFICIENCY
Earnings Waterfall
Schmitt Industries, Inc.
| Revenue | 9.89 M |
| Cost Of Revenue | 4.82 M |
| Gross Profit | 5.07 M |
| Operating Expenses | 15.7 M |
| Operating Income | -10.6 M |
| Other Expenses | -7.33 M |
| Net Income | -3.28 M |
RATIOS
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis
Schmitt Industries, Inc.
| Net Income | -3.28 M |
| Depreciation & Amortization | 437 K |
| Capital Expenditures | -997 K |
| Stock-Based Compensation | 119 K |
| Change in Working Capital | 923 K |
| Others | -5.37 M |
| Free Cash Flow | -9.04 M |
Wall Street Analysts Price Targets
Schmitt Industries, Inc.
SMIT has no price targets from Wall Street.
4. DIVIDEND
ANALYSIS
SMIT does not distribute dividends.
5. COMPETITION
6. Ownership
Insider Ownership
Schmitt Industries, Inc.
Sold
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
0 USD 0
Bought
0 USD 0
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
| Date | Value | Insider | Amount | Avg Price |
|---|---|---|---|---|
|
1 year ago
Mar 23, 2023
|
Sell 130
USD
|
Henderson Dustin
|
- 10000
|
0.013 USD |
|
3 years ago
Apr 26, 2021
|
Sell 61.9 K
USD
|
HINES ANDREWS P
Director
|
- 10000
|
6.1862 USD |
|
3 years ago
Apr 26, 2021
|
Sell 31.3 K
USD
|
HINES ANDREWS P
Director
|
- 5000
|
6.2526 USD |
|
5 years ago
Dec 17, 2019
|
Sell 1.66 M
USD
|
Pistor Walter Brown
Director
|
- 509331
|
3.25 USD |
|
5 years ago
Dec 17, 2019
|
Sell 1.66 M
USD
|
Pistor Walter Brown
10 percent owner
|
- 509331
|
3.25 USD |
|
5 years ago
Dec 17, 2019
|
Bought
401 K USD
|
Zapata Michael R.
Chief Executive Officer
|
+ 123456
|
3.25 USD |
|
5 years ago
Dec 17, 2019
|
Bought
49.9 K USD
|
HINES ANDREWS P
Director
|
+ 15348
|
3.25 USD |
|
5 years ago
Dec 17, 2019
|
Bought
16.2 K USD
|
Strom Steven
Director
|
+ 5000
|
3.25 USD |
|
6 years ago
Apr 19, 2018
|
Bought
4.2 K USD
|
Ellsworth Michael
Director
|
+ 2000
|
2.099 USD |
|
6 years ago
Feb 27, 2018
|
Sell 6.85 K
USD
|
Hudson David
Director
|
- 2666
|
2.5708 USD |
|
6 years ago
Feb 27, 2018
|
Sell 314
USD
|
Hudson David
Director
|
- 122
|
2.57 USD |
|
6 years ago
Feb 28, 2018
|
Sell 4.35 K
USD
|
Hudson David
Director
|
- 1700
|
2.5601 USD |
|
6 years ago
Feb 28, 2018
|
Sell 12.9 K
USD
|
Hudson David
Director
|
- 5000
|
2.5726 USD |
|
6 years ago
Feb 27, 2018
|
Sell 3.43 K
USD
|
Hudson David
Director
|
- 1333
|
2.5732 USD |
|
7 years ago
Aug 28, 2017
|
Bought
2.07 K USD
|
Hudson David
Chief Executive Officer
|
+ 1292
|
1.5999 USD |
|
7 years ago
Aug 28, 2017
|
Bought
2.07 K USD
|
Hudson David
Chief Executive Officer
|
+ 1292
|
1.5999 USD |
|
7 years ago
Aug 24, 2017
|
Bought
321 USD
|
Hudson David
Chief Executive Officer
|
+ 200
|
1.6042 USD |
|
7 years ago
Aug 24, 2017
|
Bought
321 USD
|
Hudson David
Chief Executive Officer
|
+ 200
|
1.6042 USD |
|
7 years ago
Aug 24, 2017
|
Bought
3.21 K USD
|
Hudson David
Chief Executive Officer
|
+ 2008
|
1.6 USD |
|
7 years ago
Aug 24, 2017
|
Bought
3.21 K USD
|
Hudson David
Chief Executive Officer
|
+ 2008
|
1.6 USD |
|
7 years ago
Aug 16, 2017
|
Bought
3.2 K USD
|
Hudson David
Chief Executive Officer
|
+ 2000
|
1.6 USD |
|
7 years ago
Aug 11, 2017
|
Bought
8.25 K USD
|
Brown Maynard E
Director
|
+ 5000
|
1.65 USD |
|
7 years ago
May 31, 2017
|
Bought
17.4 K USD
|
Brown Maynard E
Director
|
+ 10000
|
1.74 USD |
|
7 years ago
May 11, 2017
|
Bought
5.07 K USD
|
Hudson David
President & CEO
|
+ 3000
|
1.69 USD |
|
7 years ago
May 11, 2017
|
Bought
519 USD
|
Hudson David
President & CEO
|
+ 307
|
1.69 USD |
|
8 years ago
Jul 25, 2016
|
Bought
1.9 K USD
|
Davidson Charles
Director
|
+ 1000
|
1.9 USD |
|
12 years ago
Oct 12, 2012
|
Bought
32 K USD
|
FITZHENRY JAMES A
President and CEO
|
+ 10000
|
3.2 USD |
|
12 years ago
Aug 30, 2012
|
Sell 7.16 K
USD
|
Case David W
Vice President of Operations
|
- 2100
|
3.4111 USD |
|
12 years ago
Aug 30, 2012
|
Sell 2.3 K
USD
|
Case David W
Vice President of Operations
|
- 677
|
3.4 USD |
|
12 years ago
Aug 31, 2012
|
Sell 4.16 K
USD
|
Case David W
Vice President of Operations
|
- 1223
|
3.4 USD |
|
12 years ago
May 31, 2012
|
Bought
6.56 K USD
|
CASE WAYNE A
Chief Executive Officer
|
+ 1900
|
3.45 USD |
|
12 years ago
May 24, 2012
|
Bought
3.7 K USD
|
CASE WAYNE A
Chief Executive Officer
|
+ 1087
|
3.4 USD |
|
12 years ago
May 22, 2012
|
Bought
7 K USD
|
CASE WAYNE A
Chief Executive Officer
|
+ 2000
|
3.5 USD |
|
12 years ago
May 09, 2012
|
Bought
34.4 K USD
|
SIEGAL JEFFREY T
CFO and Treasurer
|
+ 9826
|
3.5 USD |
|
12 years ago
May 03, 2012
|
Bought
700 USD
|
Ellsworth Michael
Director
|
+ 200
|
3.5 USD |
|
12 years ago
Apr 30, 2012
|
Bought
5.55 K USD
|
Ellsworth Michael
Director
|
+ 1600
|
3.47 USD |
|
12 years ago
Apr 26, 2012
|
Bought
3.05 K USD
|
Ellsworth Michael
Director
|
+ 900
|
3.39 USD |
|
12 years ago
Apr 19, 2012
|
Bought
15.8 K USD
|
CASE WAYNE A
Chief Executive Officer
|
+ 5000
|
3.15 USD |
|
13 years ago
Sep 18, 2011
|
Bought
3.5 K USD
|
Ellsworth Michael
Director
|
+ 1000
|
3.5 USD |
|
13 years ago
Aug 03, 2011
|
Bought
4.2 K USD
|
Ellsworth Michael
Director
|
+ 1200
|
3.5 USD |
|
13 years ago
Aug 26, 2011
|
Bought
9.9 K USD
|
Ellsworth Michael
Director
|
+ 3000
|
3.3 USD |
|
13 years ago
Aug 18, 2011
|
Bought
3.5 K USD
|
Ellsworth Michael
Director
|
+ 1000
|
3.5 USD |
|
13 years ago
Aug 18, 2011
|
Bought
3.5 K USD
|
Ellsworth Michael
Director
|
+ 1000
|
3.5 USD |
|
15 years ago
Jul 24, 2009
|
Bought
28.8 K USD
|
FITZHENRY JAMES A
President
|
+ 5000
|
5.75 USD |
|
15 years ago
Jul 24, 2009
|
Sell 25.5 K
USD
|
Case David W
Vice President of Operations
|
- 5000
|
5.1 USD |
|
15 years ago
May 04, 2009
|
Bought
23.1 K USD
|
CASE WAYNE A
President and CEO
|
+ 7000
|
3.3 USD |
|
15 years ago
May 04, 2009
|
Bought
23.1 K USD
|
Case Linda M
Secretary
|
+ 7000
|
3.3 USD |
|
15 years ago
Apr 22, 2009
|
Bought
53.6 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 18309
|
2.93 USD |
|
16 years ago
Jan 23, 2009
|
Bought
3.48 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 819
|
4.25 USD |
|
16 years ago
Jan 23, 2009
|
Bought
8.78 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 2090
|
4.2 USD |
|
16 years ago
Jan 23, 2009
|
Bought
7.39 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 1780
|
4.15 USD |
|
16 years ago
Jan 23, 2009
|
Bought
1.23 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 296
|
4.15 USD |
|
16 years ago
Jan 23, 2009
|
Bought
4.19 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 1000
|
4.19 USD |
|
16 years ago
Jan 22, 2009
|
Bought
4.33 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 1110
|
3.9 USD |
|
16 years ago
Jan 22, 2009
|
Bought
1.8 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 464
|
3.89 USD |
|
16 years ago
Jan 22, 2009
|
Bought
1.74 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 496
|
3.5 USD |
|
16 years ago
Jan 20, 2009
|
Bought
18.2 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 5500
|
3.3 USD |
|
16 years ago
Nov 21, 2008
|
Bought
17 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 4000
|
4.25 USD |
|
16 years ago
Nov 12, 2008
|
Bought
1.15 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 256
|
4.5 USD |
|
16 years ago
Sep 15, 2008
|
Bought
11.3 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 1632
|
6.9331 USD |
|
16 years ago
Sep 11, 2008
|
Bought
202 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 29097
|
6.95 USD |
|
16 years ago
Sep 10, 2008
|
Bought
2.7 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 400
|
6.75 USD |
|
16 years ago
Sep 04, 2008
|
Bought
13 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 2000
|
6.5 USD |
|
16 years ago
Sep 03, 2008
|
Bought
10.4 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 1600
|
6.5 USD |
|
16 years ago
Aug 29, 2008
|
Bought
6.44 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 1000
|
6.4402 USD |
|
16 years ago
Aug 28, 2008
|
Bought
6 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 1000
|
6 USD |
|
16 years ago
Aug 28, 2008
|
Bought
6.18 K USD
|
Ellsworth Michael
Director
|
+ 1000
|
6.18 USD |
|
16 years ago
Aug 20, 2008
|
Bought
5.5 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 1000
|
5.5 USD |
|
16 years ago
Aug 20, 2008
|
Bought
34 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 6300
|
5.4 USD |
|
16 years ago
Aug 20, 2008
|
Bought
20.9 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 3900
|
5.35 USD |
|
16 years ago
Aug 20, 2008
|
Bought
9.54 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 1800
|
5.3 USD |
|
16 years ago
Aug 20, 2008
|
Bought
4.95 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 1000
|
4.95 USD |
|
16 years ago
Aug 19, 2008
|
Bought
14.8 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 3000
|
4.95 USD |
|
16 years ago
Aug 11, 2008
|
Bought
496 USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 100
|
4.96 USD |
|
16 years ago
Aug 11, 2008
|
Bought
496 USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 100
|
4.96 USD |
|
16 years ago
Aug 08, 2008
|
Bought
496 USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 100
|
4.96 USD |
|
16 years ago
Aug 07, 2008
|
Bought
496 USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 100
|
4.96 USD |
|
16 years ago
Aug 05, 2008
|
Bought
980 USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 200
|
4.9 USD |
|
16 years ago
Aug 05, 2008
|
Bought
4.74 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 977
|
4.85 USD |
|
16 years ago
Aug 04, 2008
|
Bought
1.96 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 400
|
4.9 USD |
|
16 years ago
Aug 04, 2008
|
Bought
4.95 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 1000
|
4.95 USD |
|
16 years ago
Aug 04, 2008
|
Bought
5 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 1000
|
5 USD |
|
16 years ago
Jul 30, 2008
|
Bought
4.95 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 1000
|
4.95 USD |
|
16 years ago
Jul 30, 2008
|
Bought
13.5 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 2700
|
5 USD |
|
16 years ago
Jul 29, 2008
|
Bought
2.42 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 500
|
4.85 USD |
|
16 years ago
Jul 29, 2008
|
Bought
5 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 1000
|
5 USD |
|
16 years ago
Jun 25, 2008
|
Bought
6 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 1000
|
6 USD |
|
16 years ago
Jun 18, 2008
|
Bought
600 USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 100
|
6 USD |
|
16 years ago
Jun 18, 2008
|
Bought
593 USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 100
|
5.93 USD |
|
16 years ago
Jun 18, 2008
|
Bought
4.72 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 800
|
5.9 USD |
|
16 years ago
Jun 16, 2008
|
Bought
1.8 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 300
|
6 USD |
|
16 years ago
Jun 13, 2008
|
Bought
2.4 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 400
|
6 USD |
|
16 years ago
Jun 12, 2008
|
Bought
1.2 K USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 200
|
6 USD |
|
16 years ago
Jun 11, 2008
|
Bought
595 USD
|
FITZHENRY JAMES A
Executive Vice President
|
+ 100
|
5.95 USD |
|
17 years ago
Jun 06, 2007
|
Sell 2.61 K
USD
|
Case David W
Vice President of Operations
|
- 300
|
8.71 USD |
|
17 years ago
Jun 06, 2007
|
Sell 7.79 K
USD
|
Case David W
Vice President of Operations
|
- 895
|
8.7 USD |
|
17 years ago
Apr 10, 2007
|
Sell 3.95 K
USD
|
Case David W
Vice President of Operations
|
- 500
|
7.9 USD |
|
17 years ago
Apr 10, 2007
|
Sell 1.59 K
USD
|
Case David W
Vice President of Operations
|
- 200
|
7.95 USD |
|
17 years ago
Apr 09, 2007
|
Sell 7.02 K
USD
|
Case David W
Vice President of Operations
|
- 900
|
7.8 USD |
|
17 years ago
Apr 09, 2007
|
Sell 782
USD
|
Case David W
Vice President of Operations
|
- 100
|
7.82 USD |
|
17 years ago
Apr 09, 2007
|
Sell 7.95 K
USD
|
Case David W
Vice President of Operations
|
- 1000
|
7.95 USD |
|
17 years ago
Mar 14, 2007
|
Sell 4.56 K
USD
|
Case David W
Vice President of Operations
|
- 600
|
7.6 USD |
|
17 years ago
Mar 14, 2007
|
Sell 4.56 K
USD
|
Case David W
Vice President of Operations
|
- 600
|
7.6 USD |
|
19 years ago
Jan 24, 2006
|
Sell 15.6 K
USD
|
HENNESSY TIMOTHY D J
Director
|
- 2500
|
6.25 USD |
|
19 years ago
Aug 10, 2005
|
Sell 33.3 K
USD
|
Thompson Robert C
Chief Financial Officer
|
- 4157
|
8 USD |
|
19 years ago
Jun 06, 2005
|
Sell 9.98 K
USD
|
Thompson Robert C
Chief Financial Officer
|
- 1051
|
9.5 USD |
|
19 years ago
Jun 02, 2005
|
Sell 14.2 K
USD
|
Case Linda M
Secretary
|
- 1500
|
9.45 USD |
|
19 years ago
Jun 02, 2005
|
Sell 6.65 K
USD
|
Case Linda M
Secretary
|
- 700
|
9.5 USD |
|
19 years ago
Jun 03, 2005
|
Sell 7.6 K
USD
|
Case Linda M
Secretary
|
- 800
|
9.5 USD |
|
19 years ago
May 27, 2005
|
Sell 4.7 K
USD
|
Thompson Robert C
Chief Financial Officer
|
- 500
|
9.4 USD |
|
19 years ago
May 27, 2005
|
Sell 9.46 K
USD
|
Case David W
Vice President of Operations
|
- 1000
|
9.46 USD |
|
19 years ago
May 27, 2005
|
Sell 21.8 K
USD
|
Case David W
Vice President of Operations
|
- 2333
|
9.35 USD |
|
19 years ago
May 09, 2005
|
Sell 6.24 K
USD
|
Case Linda M
Secretary
|
- 700
|
8.92 USD |
|
19 years ago
May 09, 2005
|
Sell 2.67 K
USD
|
Case Linda M
Secretary
|
- 300
|
8.9 USD |
|
19 years ago
May 11, 2005
|
Sell 8.75 K
USD
|
Case Linda M
Secretary
|
- 1000
|
8.75 USD |
|
19 years ago
May 10, 2005
|
Sell 8.87 K
USD
|
Case Linda M
Secretary
|
- 1000
|
8.87 USD |
|
19 years ago
Feb 25, 2005
|
Sell 7.26 K
USD
|
Thompson Robert C
Chief Financial Officer
|
- 1000
|
7.26 USD |
|
19 years ago
Feb 25, 2005
|
Sell 7.25 K
USD
|
Thompson Robert C
Chief Financial Officer
|
- 1000
|
7.25 USD |
|
19 years ago
Feb 25, 2005
|
Sell 7.16 K
USD
|
Thompson Robert C
Chief Financial Officer
|
- 1000
|
7.16 USD |
|
19 years ago
Feb 22, 2005
|
Sell 22.9 K
USD
|
Brown Maynard E
Director
|
- 3473
|
6.58 USD |
|
19 years ago
Jan 31, 2005
|
Sell 9.98 K
USD
|
HENNESSY TIMOTHY D J
Director
|
- 1500
|
6.65 USD |
|
20 years ago
Dec 13, 2004
|
Sell 4.1 K
USD
|
Thompson Robert C
Chief Financial Officer
|
- 500
|
8.2 USD |
|
20 years ago
Dec 14, 2004
|
Sell 3.76 K
USD
|
Thompson Robert C
Chief Financial Officer
|
- 458
|
8.2 USD |
|
20 years ago
Dec 15, 2004
|
Sell 4.1 K
USD
|
Thompson Robert C
Chief Financial Officer
|
- 500
|
8.2 USD |
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20 years ago
Nov 01, 2004
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Sell 3.54 K
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Thompson Robert C
Chief Financial Officer
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- 500
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7.07 USD |
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20 years ago
Nov 01, 2004
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Sell 3.54 K
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Thompson Robert C
Chief Financial Officer
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- 500
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7.07 USD |
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20 years ago
Nov 01, 2004
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Sell 3.6 K
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Thompson Robert C
Chief Financial Officer
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- 500
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7.2 USD |
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20 years ago
Nov 01, 2004
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Sell 3.6 K
USD
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Thompson Robert C
Chief Financial Officer
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- 500
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7.2 USD |
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20 years ago
Nov 01, 2004
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Sell 3.62 K
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Thompson Robert C
Chief Financial Officer
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- 500
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7.25 USD |
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20 years ago
Nov 01, 2004
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Sell 3.62 K
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Thompson Robert C
Chief Financial Officer
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- 500
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7.25 USD |
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20 years ago
Sep 16, 2004
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Sell 19.4 K
USD
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Brown Maynard E
Director
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- 2500
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7.75 USD |
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20 years ago
Sep 09, 2004
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Sell 3.1 K
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Thompson Robert C
Chief Financial Officer
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- 500
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6.2 USD |
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20 years ago
Sep 10, 2004
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Sell 15.5 K
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Thompson Robert C
Chief Financial Officer
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- 2500
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6.2 USD |
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20 years ago
Sep 08, 2004
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Sell 12.4 K
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Thompson Robert C
Chief Financial Officer
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- 2000
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6.2 USD |
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20 years ago
Jul 14, 2004
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Sell 10.8 K
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HENNESSY TIMOTHY D J
Director
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- 1500
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7.18 USD |
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20 years ago
Jun 23, 2004
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Sell 1.02 M
USD
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WELLS FARGO & CO/MN
10 percent owner
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- 509331
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2 USD |
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20 years ago
Mar 25, 2004
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Sell 14.3 K
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WELLS FARGO & CO/MN
10 percent owner
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- 7800
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1.8282 USD |
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20 years ago
Mar 22, 2004
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Sell 1.86 K
USD
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WELLS FARGO & CO/MN
10 percent owner
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- 1000
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1.859 USD |
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20 years ago
Mar 23, 2004
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Sell 7.1 K
USD
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WELLS FARGO & CO/MN
10 percent owner
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- 4000
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1.7758 USD |
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20 years ago
Mar 24, 2004
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Sell 13 K
USD
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WELLS FARGO & CO/MN
10 percent owner
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- 7400
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1.7634 USD |
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20 years ago
Mar 18, 2004
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Sell 5.47 K
USD
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WELLS FARGO & CO/MN
10 percent owner
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- 2800
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1.9539 USD |
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20 years ago
Mar 19, 2004
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Sell 1.88 K
USD
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WELLS FARGO & CO/MN
10 percent owner
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- 1000
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1.882 USD |
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21 years ago
Dec 30, 2003
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Sell 1.26 M
USD
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CASE WAYNE A
President and CEO
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- 533331
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2.36 USD |
7. News
Deadline Alert: Bronstein, Gewirtz & Grossman, LLC, A Top Firm, Notifies Schmitt Industries, Inc. (SMIT) Investors of Class Action and Encourages Investors to Actively Participate
NEW YORK--(BUSINESS WIRE)--Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Schmitt Industries, Inc. (“Schmitt” or the “Company”) (NASDAQ: SMIT) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired Schmitt securities between September 1, 2020 and September 20, 2022, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/smit. This class action seeks to recover damages against Defendants for alleged violations of the Securities Exchange Act of 1934 (the “Exchange Act”). The Complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Schmitt Industries continuously downplayed its serious issues with internal controls; (2) Schmitt Industries’ financial statements from August 31, 2021 to the present included “certain errors”; (3) as a result, Schmitt Industries would need to restate its previously filed financial statements for certain periods; and (4) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/smit or contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Schmitt you have until December 12, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
businesswire.com
- 2 years ago
SCHMITT DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against Schmitt Industries, Inc. and Encourages Investors to Contact the Firm
NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors that a class action lawsuit has been filed against Schmitt Industries, Inc. (“Schmitt” or the “Company”) (NASDAQ: SMIT) on behalf of all persons and entities who purchased or otherwise acquired Schmitt securities between September 1, 2020 and September 20, 2022, both dates inclusive (the “Class Period”). Investors have until December 12, 2022 to apply to the Court to be appointed as lead plaintiff in the lawsuit. Click here to participate in the action. On September 20, 2022, after the market closed, Schmitt announced that its previous financial statements “should no longer be relied upon” and would require restating, estimating that “the errors were cumulatively material, resulting in an understatement of $330,203 in expenses for the first three quarters of the fiscal year. On this news, Schmitt stock fell $0.68, or 17.9%, to close at $3.12 per share on September 21, 2022, hurting investors. According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Schmitt Industries continuously downplayed its serious issues with internal controls; (2) Schmitt Industries’ financial statements from August 31, 2021, to the present included “certain errors”; (3) as a result, Schmitt Industries would need to restate its previously filed financial statements for certain periods; and (4) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. If you purchased or otherwise acquired Schmitt shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you. About Bragar Eagel & Squire, P.C.: Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
businesswire.com
- 2 years ago
The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Schmitt Industries, Inc. (SMIT)
LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz reminds investors of the upcoming December 12, 2022 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who acquired Schmitt Industries, Inc. (“Schmitt” or the “Company”) (NASDAQ: SMIT) securities between September 1, 2020 and September 20, 2022, inclusive (the “Class Period”). If you are a shareholder who suffered a loss, click here to participate. On September 20, 2022, after the market closed, Schmitt announced that its previous financial statements “should no longer be relied upon” and would require restatement, estimating that “the errors were material on a cumulative basis resulting in a net $330,203 under-recognition of expenses over the first three quarters of the fiscal year.” On this news, Schmitt’s stock price fell $0.68, or 17.9%, to close at $3.12 per share on September 21, 2022, thereby injuring investors. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Schmitt continuously downplayed its serious issues with internal controls; (2) Schmitt’s financial statements from August 31, 2021 to the present included "certain errors"; (3) as a result, Schmitt would need to restate its previously filed financial statements for certain periods; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. Follow us for updates on Twitter: twitter.com/FRC_LAW. If you purchased or otherwise acquired Schmitt securities during the Class Period, you may move the Court no later than December 12, 2022 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
businesswire.com
- 2 years ago
Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed on Behalf of Schmitt Industries, Inc. (SMIT) Investors and Encourages Investors to Contact the Firm Before December 12, 2022
NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the District of Oregon on behalf of those who acquired Schmitt Industries, Inc. (“Schmitt” or the “Company”) (NASDAQ: SMIT) securities between September 1, 2020 through September 20, 2022 (the “Class Period”). Investors have until December 12, 2022 to apply to the Court to be appointed as lead plaintiff in the lawsuit. Schmitt designs, assembles, and markets computer-controlled balancing equipment and precision laser measurement systems for use primarily by the machine tool industry. On September 20, 2022, Schmitt announced that its previous financial statements “should no longer be relied upon” and would require restatement, estimating that “the errors were material on a cumulative basis resulting in a net $330,203 under-recognition of expenses over the first three quarters of the fiscal year.” On this news, the price of Schmitt shares declined by $0.68 per share, or approximately 17.9%, from $3.80 per share to close at $3.12 on September 21, 2022, and the shares declined an additional $0.84 per share, or approximately 26.9%, to close at $2.28 the following day. The lawsuit alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Schmitt Industries continuously downplayed serious issues with its internal controls; (2) Schmitt’s financial statements from August 31, 2021 to the present included "certain errors"; and (3) as a result, Schmitt would need to restate its previously filed financial statements for certain periods. If you purchased or otherwise acquired Schmitt securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you. Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
businesswire.com
- 2 years ago
ROSEN, NATIONAL TRIAL LAWYERS, Encourages Schmitt Industries, Inc. Investors to Secure Counsel Before Important Deadline in First Filed Securities Class Action Commenced by the Firm – SMIT
NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Schmitt Industries, Inc. (NASDAQ: SMIT) between September 1, 2020 and September 20, 2022, both dates inclusive (the “Class Period”), of the important December 12, 2022 lead plaintiff deadline in the securities class action commenced by the Firm. SO WHAT: If you purchased Schmitt Industries securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Schmitt Industries class action, go to https://rosenlegal.com/submit-form/?case_id=8823 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 12, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Schmitt Industries continuously downplayed its serious issues with internal controls; (2) Schmitt Industries’ financial statements from August 31, 2021 to the present included “certain errors”; (3) as a result, Schmitt Industries would need to restate its previously filed financial statements for certain periods; and (4) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Schmitt Industries class action, go https://rosenlegal.com/submit-form/?case_id=8823 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/. Attorney Advertising. Prior results do not guarantee a similar outcome.
businesswire.com
- 2 years ago
Schmitt Industries, Inc. (SMIT) Class Action: Contact Robbins LLP if You Have Significant Losses in Schmitt Industries, Inc.
SAN DIEGO--(BUSINESS WIRE)--The Class: Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons who acquired shares of Schmitt Industries, Inc. (NASDAQ: SMIT) securities between September 1, 2020 and September 20, 2022, for violations of the Securities Exchange Act of 1934. What Now: Similarly situated shareholders may be eligible to participate in the class action against Schmitt. Shareholders who want to be appointed lead plaintiff for the class must file their papers by December 12, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. What is this Case About: Schmitt Industries, Inc. (SMIT) Had Deficient Internal Controls Over Financial Reporting According to the complaint, defendants failed to disclose that: (1) Schmitt continuously downplayed its serious issues with internal controls; (2) Schmitt's financial statements from August 31, 2021 to the present included "certain errors"; and (3) as a result, Schmitt would have to restate its previously filed financial statements for certain periods. On September 20, 2022, Schmitt announced it would restate its financial statements from August 31, 2021 to the present, and expected to report at least one material weakness. Further, the Company's financial statements from August 31, 2021 through February 28, 2022, should no longer be relied upon due to errors in the treatment of certain general and administrative expenses that were excluded from the statement of operations. On this news, Schmitt's stock fell 17% to close at $3.12 per share on September 21, 2022. Contact us to learn more: Aaron Dumas (800) 350-6003 adumas@robbinsllp.com Shareholder Information Form About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against Schmitt Industries, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome.
businesswire.com
- 2 years ago
ROSEN, A TOP RANKED FIRM, Encourages Schmitt Industries, Inc. Investors With Losses to Secure Counsel Before Important Deadline in Securities Class Action Filed by the Firm – SMIT
NEW YORK, Oct. 27, 2022 /PRNewswire/ — Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Schmitt Industries, Inc. (NASDAQ: SMIT) between September 1, 2020 and September 20, 2022, both dates inclusive (the “Class Period”), of the important December 12, 2022 lead plaintiff deadline in the securities class action commenced […]...
headlinesoftoday.com
- 2 years ago
Kirby McInerney LLP Announces the Filing of a Securities Class Action on Behalf of Schmitt Industries, Inc. (SMIT) Investors
NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the District of Oregon on behalf of those who acquired Schmitt Industries, Inc. (“Schmitt” or the “Company”) (NASDAQ: SMIT) securities between September 1, 2020 through September 20, 2022 (the “Class Period”). Investors have until December 12, 2022 to apply to the Court to be appointed as lead plaintiff in the lawsuit. Schmitt designs, assembles, and markets computer-controlled balancing equipment and precision laser measurement systems for use primarily by the machine tool industry. On September 20, 2022, Schmitt announced that its previous financial statements “should no longer be relied upon” and would require restatement, estimating that “the errors were material on a cumulative basis resulting in a net $330,203 under-recognition of expenses over the first three quarters of the fiscal year.” On this news, the price of Schmitt shares declined by $0.68 per share, or approximately 17.9%, from $3.80 per share to close at $3.12 on September 21, 2022, and the shares declined an additional $0.84 per share to close at $2.28 the following day. The lawsuit alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Schmitt Industries continuously downplayed its serious issues with internal controls; (2) Schmitt’s financial statements from August 31, 2021 to the present included "certain errors"; and (3) as a result, Schmitt would need to restate its previously filed financial statements for certain periods. If you purchased or otherwise acquired Schmitt securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you. Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
businesswire.com
- 2 years ago
Bronstein, Gewirtz & Grossman, LLC, A Top Firm, Notifies Schmitt Industries, Inc. (SMIT) Investors of Class Action and Encourages Investors to Actively Participate
NEW YORK--(BUSINESS WIRE)--Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Schmitt Industries, Inc. (“Schmitt” or the “Company”) (NASDAQ: SMIT) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired Schmitt securities between September 1, 2020 and September 20, 2022, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/smit. This class action seeks to recover damages against Defendants for alleged violations of the Securities Exchange Act of 1934 (the “Exchange Act”). The Complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Schmitt Industries continuously downplayed its serious issues with internal controls; (2) Schmitt Industries’ financial statements from August 31, 2021 to the present included “certain errors”; (3) as a result, Schmitt Industries would need to restate its previously filed financial statements for certain periods; and (4) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/smit or contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Schmitt you have until December 12, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
businesswire.com
- 2 years ago
ROSEN, A LEADING LAW FIRM, Encourages Schmitt Industries, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action Filed by the Firm – SMIT
NEW YORK, Oct. 20, 2022 /PRNewswire/ — Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Schmitt Industries, Inc. (NASDAQ: SMIT) between September 1, 2020 and September 20, 2022, both dates inclusive (the “Class Period”), of the important December 12, 2022 lead plaintiff deadline in the securities class action commenced […]...
headlinesoftoday.com
- 2 years ago
Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Schmitt Industries, Inc. (SMIT)
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming December 12, 2022 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Schmitt Industries, Inc. (“Schmitt” or the “Company”) (NASDAQ: SMIT) securities between September 1, 2020 and September 20, 2022, inclusive (the “Class Period”). Investors suffering losses on their Schmitt investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. On September 20, 2022, after the market closed, Schmitt announced that its previous financial statements “should no longer be relied upon” and would require restatement, estimating that “the errors were material on a cumulative basis resulting in a net $330,203 under-recognition of expenses over the first three quarters of the fiscal year.” On this news, Schmitt’s stock fell $0.68, or 17.9%, to close at $3.12 per share on September 21, 2022, thereby injuring investors. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Schmitt continuously downplayed its serious issues with internal controls; (2) Schmitt’s financial statements from August 31, 2021 to the present included "certain errors"; (3) as a result, Schmitt would need to restate its previously filed financial statements for certain periods; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. If you purchased or otherwise acquired Schmitt securities during the Class Period, you may move the Court no later than December 12, 2022 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
businesswire.com
- 2 years ago
Schmitt Industries, Inc. (SMIT) Shareholder Update: Robbins LLP Reminds Investors of Class Action Against Schmitt Industries, Inc.
SAN DIEGO--(BUSINESS WIRE)--The Class: Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons who acquired shares of Schmitt Industries, Inc. (NASDAQ: SMIT) securities between September 1, 2020 and September 20, 2022, for violations of the Securities Exchange Act of 1934. What Now: Similarly situated shareholders may be eligible to participate in the class action against Schmitt. Shareholders who want to be appointed lead plaintiff for the class must file their papers by December 12, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. What is this Case About: Schmitt Industries, Inc. (SMIT) Had Deficient Internal Controls Over Financial Reporting According to the complaint, defendants failed to disclose that: (1) Schmitt continuously downplayed it serious issues with internal controls; (2) Schmitt's financial statements from August 31, 2021 to the present included "certain errors"; and (3) as a result, Schmitt would have to restate its previously filed financial statements for certain periods. On September 20, 2022, Schmitt announced it would restate its financial statements from August 31, 2021 to the present, and expected to report at least one material weakness. Further, the Company's financial statements from August 31, 2021 through February 28, 2022, should no longer be relied upon due to errors in the treatment of certain general and administrative expenses that were excluded from the statement of operations. On this news, Schmitt's stock fell 17% to close at $3.12 per share on September 21, 2022. Contact us to learn more: Aaron Dumas (800) 350-6003 adumas@robbinsllp.com Shareholder Information Form About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against Schmitt Industries, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome.
businesswire.com
- 2 years ago
8. Profile
Summary
Schmitt Industries, Inc. SMIT
COUNTRY
US
INDUSTRY
Hardware, Equipment & Parts
MARKET CAP
$ 83.4 K
Dividend Yield
0.00%
Description
Schmitt Industries, Inc., together with its subsidiaries, designs, manufactures, and sells test and measurement products worldwide. The company operates through two segments, Measurement and Ice Cream. The Measurement segment designs, manufactures, and sells laser and confocal chromatic white light sensors for distance measurement and dimensional sizing products under the Acuity brand name for various industrial applications, including manufacturing, lumber production, steel casting, glass and paper production, medical imaging, crane control and micron-level part, and surface inspection. It also offers AR550 high speed laser sensor for application in vibration measurements, scanning of roads, vehicle crash tests, and ballistic measurements; AS2100, an accurate distance sensor, used in metal production, transportation industry, process control, and fill level measurement applications; and satellite focused remote tank monitoring products under the Xact brand that measure the fill levels of tanks holding propane, diesel, and other tank-based liquids, as well as related monitoring services, including transmission of fill data from the tanks via satellite to a secure website for display. The Ice Cream segment manufactures, wholesales, and retails ice creams and ice cream cakes, as well as sells through its website; and serves ice cream at catering events and holds various community-building events comprising ice cream classes, and live comedy and music performances through Ample Hills Creamery brand. Schmitt Industries, Inc. was founded in 1984 and is headquartered in Portland, Oregon.
Contact
2765 N.W. Nicolai Street, Portland, OR, 97210
https://www.schmittindustries.com
IPO
Date
Jan. 30, 1995
Employees
157
Officers
Mr. Michael R. Zapata
Executive Chairman, President & Chief Executive Officer
Ms. Donna Witkowski
President of SBS