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Sonic Foundry Inc
222 W. Washington Avenue
Phone: (608) 443-1600p:608 443-1600 MADISON, WI  53703  United States Ticker: SOFOSOFO
Placed under Receivership on 3/21/2024
On March 20, 2024, Sonic Foundry gave an Assignment for the Benefit of Creditors to Its intended Receiver, Seth Dizard.
On 3/21/2024, the intended Receiver, Seth Dizard, petitioned the Dane County Circuit Court in Wisconsin, to appoint himself as the Receiver of all assets of Sonic Foundry, Inc. (Dane County Case Number 2024CV000854). The Receiver has broad powers and authority to take possession of, and protect and preserve, all of the assets of the Company, and administer the estate in accordance with Wis. Stats. Ch. 128. The Receiver is empowered to sell all of the assets of the Company (together or separately) and distribute the proceeds of such sale to the Company's creditors in a manner approved by the Court. The filing of a Petition for a Receiver is considered an event of default under the Company's Secured Promissory Note and Security Agreement with Mark Burish. The Company's shareholders will not receive distributions in the Receivership.
Business Summary
Sonic Foundry, Inc. is engaged in developing comprehensive video recording and streaming solutions for corporations, health organizations and government entities. The Company's brands include Vidable and Global Learning Exchange (GLX). Vidable brand is an artificial intelligence (AI)-powered solution that turns an organization's video libraries into dynamic knowledge bases. Vidable is an AI-solution with three features: Vidable Assistant, Vidable Insights, and Vidable Transformations. Global Learning Exchange provides students in emerging countries access to higher education. GLX offers coursework, degree programs and certifications through partnerships with seven United States and European Union Universities and two skill-based certification providers through partnerships with approximately seven United States (US) and European Union (EU) Universities and two skill-based certification providers.

Scores and Ratings
FRISK®
Score		 Z''
Score		 PAYCE®
Score		 DBT
Index		 Moody's
Rating		 Fitch
Rating		 DBRS
Rating
YesYes-Yes---

Financials, News and Filings
Latest
Statement		 Last
Audit
News		 SEC
Filings		 Bankruptcy
Filings		 Suit &
Judgment
Filings		 Tax
Lien
Filings
9/30/20239/30/2023YesYes---

Industries
SIC Code Description
7372 Prepackaged software
7371 Computer programming services
7374 Computer processing and data preparation and processing services
7819 Services allied to motion picture production

Officers and Directors

Title
Name
Age		 Title
Date		 Start
Date
Chief Executive Officer JosephMozden 60 3/20/2024 9/14/2020
Chief Financial Officer, Secretary Kenneth A.Minor 61 3/1/2021 6/1/1997
Executive Vice President of Sales, General Manager Robert M.Lipps 52 10/1/2022 4/1/2006

Subsidiaries
Business Name Address City State/Province Country
Sonic Foundry International B.V. Merelstraat 2 A UTRECHT Netherlands

Business Names
Business Name
Media Mission B.V.
Mediasite KK
SOFO
Sonic Foundry International B.V.
Sonic Foundry Media Systems, Inc.

General Information
Number of Employees: 153 (As of 9/30/2023)
Outstanding Shares: 12,139,360 (As of 12/29/2023)
Shareholders: 198
Stock Exchange: OTC
Federal Tax Id: 391783372


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Friday, April 19, 2024