<SEC-DOCUMENT>0001171843-20-004987.txt : 20200716
<SEC-HEADER>0001171843-20-004987.hdr.sgml : 20200716
<ACCEPTANCE-DATETIME>20200716102238
ACCESSION NUMBER:		0001171843-20-004987
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200715
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200716
DATE AS OF CHANGE:		20200716

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EDUCATIONAL DEVELOPMENT CORP
		CENTRAL INDEX KEY:			0000031667
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-MISCELLANEOUS NONDURABLE GOODS [5190]
		IRS NUMBER:				730750007
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0228

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-04957
		FILM NUMBER:		201030967

	BUSINESS ADDRESS:	
		STREET 1:		10302 E 55TH PL #B
		CITY:			TULSA
		STATE:			OK
		ZIP:			74146
		BUSINESS PHONE:		9186224522

	MAIL ADDRESS:	
		STREET 1:		PO BOX 470663
		CITY:			TULSA
		STATE:			OK
		ZIP:			741460663

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TUTOR TAPES INTERNATIONAL CORP
		DATE OF NAME CHANGE:	19701030

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERNATIONAL TEACHING TAPES INC
		DATE OF NAME CHANGE:	19701030
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k_071620.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<html><head><title></title></head><body><div style="margin-top: 3pt; margin-bottom: 12pt;"><div style="font-size: 1pt; border-top: Black 2.5pt solid; border-bottom: Black 1.1pt solid; width: 100%;"><font style="font-size: 10pt;">&#160;</font></div></div><p style="text-align: center;"><font style="font-size: 14pt;"><strong>UNITED STATES</strong><br /><strong>SECURITIES AND EXCHANGE COMMISSION</strong><br /><strong>Washington, D.C. 20549</strong><br />_____________________</font></p><p style="text-transform: uppercase; text-align: center;"><font style="font-size: 14pt;"><strong>Form 8-K</strong><br />_____________________</font></p><p style="text-align: center;"><font style="font-size: 12pt;"><strong>CURRENT REPORT</strong></font></p><p style="text-align: center;"><font style="font-size: 12pt;"><strong>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</strong></font></p><p align="center"><font style="font-size: 10pt;">Date of Report (Date of earliest event Reported): <!--July 15, 2020-->July 15, 2020  (July 15, 2020) &#160;</font></p><p align="center"><font style="font-size: 12pt;"><strong>EDUCATIONAL DEVELOPMENT CORPORATION</strong></font><br /><font style="font-size: 10pt;">(Exact Name of Registrant as Specified in Charter)</font></p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td align="center" width="33%"><font style="font-size: 10pt;"><strong>Delaware</strong></font></td><td align="center" width="34%"><font style="font-size: 10pt;"><strong>000-04957</strong></font></td><td align="center" width="33%"><font style="font-size: 10pt;"><strong>73-0750007</strong></font></td></tr><tr valign="top"><td align="center" width="33%"><font style="font-size: 10pt;">(State or Other Jurisdiction of Incorporation)</font></td><td align="center" width="34%"><font style="font-size: 10pt;">(Commission File Number)</font></td><td align="center" width="33%"><font style="font-size: 10pt;">(I.R.S. Employer Identification Number)</font></td></tr></table><p><font style="font-size: 10pt;">&#160;</font></p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="bottom"><td align="center" width="50%"><font style="font-size: 10pt;"><strong>5402 S 122nd E Avenue, Tulsa, Oklahoma 74146</strong><!----></font></td></tr><tr valign="top"><td align="center" width="50%"><font style="font-size: 10pt;">(Address of Principal Executive Offices) (Zip Code)</font></td></tr></table><p align="center"><font style="font-size: 10pt;"><strong>(918) 622-4522</strong><br />(Registrant's telephone number, including area code)</font></p><p align="center"><font style="font-size: 10pt;"><strong></strong><br />(Former name or former address, if changed since last report)</font></p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td colspan="3"><font style="font-size: 10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:<br /><br /></font></td></tr><tr valign="top"><td width="21"><font style="font-size: 10pt;">&#160;</font></td><td width="40"><font style="font-size: 10pt;">[ &#160; ]</font></td><td nowrap="nowrap"><font style="font-size: 10pt;">&#160;&#160;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></td></tr><tr valign="top"><td width="21"><font style="font-size: 10pt;">&#160;</font></td><td width="40"><font style="font-size: 10pt;">[ &#160; ]</font></td><td nowrap="nowrap"><font style="font-size: 10pt;">&#160;&#160;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></td></tr><tr valign="top"><td width="21"><font style="font-size: 10pt;">&#160;</font></td><td width="40"><font style="font-size: 10pt;">[ &#160; ]</font></td><td nowrap="nowrap"><font style="font-size: 10pt;">&#160;&#160;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></td></tr><tr valign="top"><td width="21"><font style="font-size: 10pt;">&#160;</font></td><td width="40"><font style="font-size: 10pt;">[ &#160; ]</font></td><td nowrap="nowrap"><font style="font-size: 10pt;">&#160;&#160;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></td></tr></table><p style="font-size: 10pt; margin: 0pt;">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #212121; text-align: left;"><font style="font-weight: normal;">Securities registered pursuant to Section&#160;12(b) of the Act:</font></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #212121; text-align: left;"><font style="font-weight: normal;">&#160;</font></p><table style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="width: 40%; border-bottom: Black 1pt solid; text-align: center;"><font style="font-size: 10pt;">Title of each class</font></td><td style="width: 20%; border-bottom: Black 1pt solid; text-align: center;"><font style="font-size: 10pt;">Trading Symbols</font></td><td style="width: 40%; border-bottom: Black 1pt solid; text-align: center;"><font style="font-size: 10pt;">Name of each exchange on which registered</font></td></tr><tr style="vertical-align: top;"><td style="text-align: center;"><font style="font-size: 10pt;">Common stock, $0.20 par value</font></td><td style="text-align: center;"><font style="font-size: 10pt;">EDUC</font></td><td style="text-align: center;"><font style="font-size: 10pt;">NASDAQ</font></td></tr></table><p style="font-size: 10pt; margin: 0pt;">&#160;</p><p style="font-size: 10pt; margin: 0pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p><p style="font-size: 10pt; margin: 0pt;">Emerging growth company [&#160; ]</p><p style="font-size: 10pt; margin: 0pt;">&#160;</p><p style="font-size: 10pt; margin: 0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [&#160; ]</p><div style="margin-top: 12pt; margin-bottom: 3pt;"><div style="font-size: 1pt; border-top: Black 1.1pt solid; border-bottom: Black 2.5pt solid; width: 100%;"><font style="font-size: 10pt;">&#160;</font></div>&#160;</div><hr style="page-break-after: always;" noshade="noshade" /><p><font style="font-size: 10pt;">The information disclosed in these Items 2.02 and 7.01, including Exhibit 99.1 hereto, is being furnished and shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities under that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act except as expressly set forth by specific reference in such filing.</font></p><p>  <strong>  </strong></p><p><font style="font-size: 10pt;"><strong>Item 2.02. Results of Operations and Financial Condition.</strong></font></p><p><font style="font-size: 10pt;">
 <p align="justify" style="margin-left:0in; margin-right:0in;"><font style="color:black; font-size:11pt;">July 09, 2020, Educational Development Corporation, announced via conference call and press release, record revenues for the month of June and record active consultants.</font></p> </font></p><p /><font style="font-size: 10pt;"><strong>  </strong><p /><p><font style="font-size: 10pt;"><strong>Item 7.01. Regulation FD Disclosure.</strong></font></p><p><font style="font-size: 10pt;">
 <p><font style="color:black; font-size:11pt; font-family:'Times New Roman';">On July 15, 2020, Educational Development Corporation held its first quarter fiscal 2021 earnings call.&#160;&#160; During the call Randall White, the Company&#8217;s President and Chief Executive Officer announced record June 2020 revenues and record active consultants at the end of June 2020.&#160; A copy of the press release announcing this information is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.</font></p> </font></p><p /><font style="font-size: 10pt;"><strong>  </strong><p /><p><font style="font-size: 10pt;"><strong>Item 9.01. Financial Statements and Exhibits.</strong></font></p><p><font style="font-size: 10pt;">
 <p>(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160; EXHIBITS&#160;&#160;&#160;&#160;&#160;&#160;&#160;</p>  <table style="border-collapse:collapse !important;;border-collapse: collapse; "><tr><td class="hugin"><font style="font-size:10pt;">Exhibit</font><br /><font style="font-size:10pt;"><u>Number</u></font></td><td class="hugin">&#160; &#160;</td><td class="hugin"><br /> <font style="font-size:10pt;"><u>Description</u></font></td></tr><tr><td class="hugin"><font style="font-size:10pt;"><font style="font-size:10pt;"><a href="exh_991.htm" rel="nofollow">99.1</a></font></font></td><td class="hugin">&#160;</td><td class="hugin"><font style="font-size:10pt;"><font style="font-size:10pt;"><a href="exh_991.htm" rel="nofollow">Press release dated as of July 15, 2020</a></font></font></td></tr></table></font></p><p><font style="font-size: 10pt;"></font></p><p><font style="font-size: 10pt;"></font></p><hr style="page-break-after: always;" noshade="noshade" /><p align="center"><font style="font-size: 10pt;"><strong>SIGNATURE</strong></font></p><p><font style="font-size: 10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td valign="top" width="49%"><font style="font-size: 10pt;">&#160;</font></td><td style="font-size: 12pt;" colspan="2" valign="top"><font style="font-size: 10pt;"><strong>EDUCATIONAL DEVELOPMENT CORPORATION</strong></font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;">&#160;</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;"></font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">Date: July 15, 2020</font></td><td width="2%"><font style="font-size: 10pt;">By:&#160;</font></td><td style="text-decoration: underline;" width="49%"><font style="font-size: 10pt;">/s/ Randall W. White&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;">Randall W. White</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;">President and Chief Executive Officer</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;"></font></td></tr></table><p /></font></font></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh_991.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"><html lang="en-US"><head><title>EdgarFiling</title><meta content="text/html; charset=windows-1252" ><meta name="GENERATOR" content="MSHTML 8.00.7601.18094" ></head><body bgcolor="#ffffff"><p style="text-align: right;"><strong>EXHIBIT 99.1</strong></p><p style="text-align: center;"><font style="font-size: 14pt;"><strong>Educational Development Corporation Announces Record June Net Revenues and Record Number of Active Consultants</strong></font></p><p style="text-align: center;"><strong></strong></p><p ></p>
 <p align="justify">TULSA, Okla., July  15, 2020  (GLOBE NEWSWIRE) -- Randall White, CEO of Educational Development Corporation, announced in the first quarter earnings call held on July 15, 2020, that the Company&#8217;s recent growth in net revenues has continued into the second quarter of the fiscal year. &#160;Mr. White identified that during June 2020, the first month of the second fiscal quarter, the Company recognized approximately $18 million in net revenues, compared to approximately $7 million of net revenues recorded in June of last year, an increase of&#160; approximately $11 million, or 157%.&#160; Mr. White also stated that June 2020 was the largest net revenues month in the Company&#8217;s history.&#160; &#160;<br ></p>  <p align="justify">In addition, during the call Mr. White identified that the Company&#8217;s UBAM division, whose sales are made through consultants, added 6,000 new recruits during June 2020, and had just over 39,000 active consultants at the end of the month, which is the largest number of active consultants in the Company&#8217;s history.&#160;&#160;</p>  <p align="justify">Audio replays of the conference call will be available at&#160;<u>www.edcpub.com/investors.aspx</u>.</p>  <p align="justify"><strong>About Educational Development Corporation (EDC)</strong></p>  <p align="justify">EDC is a publishing company specializing in books for children.&#160; EDC is the exclusive United States trade co-publisher of the line of educational children&#8217;s books produced in the United Kingdom by Usborne Publishing Limited (&#8220;Usborne&#8221;) and we also exclusively publish books through our ownership of Kane Miller Book Publisher (&#8220;Kane Miller&#8221;); both international award-winning publishers of children&#8217;s books. &#160;EDC&#8217;s current catalog contains over 2,000 titles, with new additions semi-annually.&#160; Both Usborne and Kane Miller products are sold via 4,000 retail outlets and by independent consultants, who hold book showings in individual homes, through social media, book fairs with school and public libraries, direct and internet sales.&#160;</p>  <p align="justify">Contact:<br > Educational Development Corporation<br > Randall White, (918) 622-4522</p>  <p align="justify"><strong>Cautionary Statement for the Purpose of the &#8220;Safe Harbor&#8221; Provision of the Private Securities Litigation Reform Act of 1995.</strong><br >&#160;&#160;&#160;&#160;<br >The information discussed in this Press Release includes &#8220;forward-looking statements.&#8221; These forward-looking statements are identified by their use of terms and phrases such as &#8220;may,&#8221; &#8220;expect,&#8221; &#8220;estimate,&#8221; &#8220;project,&#8221; &#8220;plan,&#8221; &#8220;believe,&#8221; &#8220;intend,&#8221; &#8220;achievable,&#8221; &#8220;anticipate,&#8221; &#8220;continue,&#8221; &#8220;potential,&#8221; &#8220;should,&#8221; &#8220;could,&#8221; and similar terms and phrases.&#160; Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks and uncertainties and we can give no assurance that such expectations or assumptions will be achieved.&#160; Known and unknown risks, uncertainties and other factors may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements.&#160; Factors that could cause or contribute to such differences include, but are not limited to, our success in recruiting and retaining new consultants, our ability to locate and procure desired books, our ability to ship the volume of orders that are received without creating backlogs, our ability to obtain adequate financing&#160; for working capital and capital expenditures, economic and competitive conditions, regulatory changes and other uncertainties, the COVID-19 pandemic, as well as those factors discussed in our Annual Report on Form 10-K for the year ended February 29, 2020, all of which are difficult to predict.&#160; In light of these risks, uncertainties and assumptions, the forward-looking events discussed may not occur.&#160; All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements in this paragraph and elsewhere in our Annual Report on Form 10-K for the year ended February 29, 2020 and speak only as of the date of this Press Release.&#160; Other than as required under the securities laws, we do not assume a duty to update these forward-looking statements, whether as a result of new information, subsequent events or circumstances, changes in expectations or otherwise.</p>  <p> </p><p ></p></body></html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
