Outdoor Holding Company Announces Settlement in SEC Administrative Matter

Core Viewpoint - Outdoor Holding Company has reached a settlement with the SEC regarding its investigation, which does not include any civil penalty or monetary sanction, allowing the company to move forward [2][6]. Group 1: SEC Investigation and Settlement - The company agreed to cease and desist from future violations of federal securities laws, including failures in disclosure and internal controls [3]. - The SEC's order noted that the company is now under new senior management, distinct from those responsible for the previous violations [3]. - The company will engage an outside compliance consultant to assist in remediating material weaknesses in internal controls over financial reporting [4]. Group 2: Remediation Efforts - Over the past year, the company has implemented a multi-phase remediation program, including an independent investigation and restatement of financial statements for fiscal years 2022, 2023, and 2024 [5]. - The company has replaced its senior leadership, enhanced its accounting personnel, and adopted new policies for expense classification and capitalization [5]. - The board has been reduced in size and new independent members have been added to improve financial expertise and governance [5]. Group 3: Corporate Governance and Future Focus - The company is committed to strong corporate governance, transparent disclosure, and accurate financial reporting as it refocuses on operational improvements and enhancing shareholder value [6]. - The company remains focused on its core business as an e-commerce marketplace centered on GunBroker.com, having divested its former ammunition manufacturing business [6].