4Kids had effectively been demolished after they had gone bankrupt. They adopted a new CEO so Michael Goldstein could finally collect himself. The new CEO, who would remain CEO until 2016 was Bruce R. Foster, who, before, was their Executive Vice President and CFO. They retained a few properties, but only seemingly because no one wanted to buy them, or, if they did, they didn’t offer enough money. As far as I could find, they retained the rights to Chaotic, Dinosaur King and Tai Chi Chasers. It’s possible they owned the rights to some other shows still, but it’s difficult to know for certain given the available information.
Still, 4Kids wasn’t giving up. They exited bankruptcy on December 13, 2012 and created 4Licensing Corporation as a new rebranding. They would also restart trading on the OTC Pink Sheets under the new symbol FOUR. They had previously been listed as KIDEQ.PK.
For four years, 4Licensing would live a rather quiet existence, mostly just existing for the sake of holding onto those licenses and getting whatever residual revenues could be obtained from them. They also planned on getting into licensing in the sports industry. As of December 31, 2013, they repaid all of their creditors, but other than that they were just barely managing to stay afloat. They had two entities under their control – 4LC Sports, their new sports division which was formerly 4Kids Ad Sales inc., and 4LC Technology, which was originally 4Kids Technology, Inc. Their main licensed product was the patented isoBLOX protective shock plates, which largely seem to be used for baseball caps and shin guards. I don’t know if this stuff exists anymore. It’s dead on social media, and there’s no way to buy any of it from their main website.
Indeed, this product is really the only thing 4Licensing really even talks about on its final quarterly report ever, which makes sense because it didn’t have the money to produce anything with its media licenses anymore, and, since it sold off most of its assets, it couldn’t receive any real substantial revenue from anything that was already out there. 4Kids Entertainment, Inc. and the previously mentioned 4Sight Licensing still stuck around to act as the entertainment and brand licensing division, but that was just for technical purposes. They really weren’t doing anything.
Can I be real with you, guys? Reading 4Licensing quarterly reports from 2012 onward is one of the most boring things you can imagine. It’s the same thing every quarter. Outside of minute differences in the specific numbers, it never changes. They’re always reporting a lot of losses, a significant amount of spending and very little revenue. According to their stock charts, they were doing their best at 2014, but, again, the quarterly reports were pretty much the same for that year as all others.
On February 29, 2016, Bruce Foster resigned as CEO, Executive Vice President and CFO of 4Licensing due to non-payment of wages. On September 21, 2016, 4Licensing filed for chapter 11 bankruptcy yet again. This time, it seems they recognized it was the end because they did not express any future plans for recovery efforts to shareholders. The bankruptcy plan was confirmed on January 20, 2017 and enacted February 7, 2017. Shortly afterward, 4Licensing would officially shut down all operations.
It was truly the end of an era.
4Kids was officially gone.
But our story still isn’t over. One unanswered question remains.
Part 23: Where in the World is Kahnmen Sandiego?
Part 21: It’s Time to S-S-S-S-S-S-S-SUE!
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