8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of the earliest event reported): May 31, 2022

Value Line, Inc.

(Exact name of registrant as specified in its charter)

New York
(State or Other Jurisdiction of Incorporation) 0-11306
   (Commission File Number) 13-3139843
(I.R.S. Employer
Identification No.)

551 Fifth Avenue
New York, New York
(Address of Principal Executive Offices)

10176

(Zip Code)

(212) 907-1500
(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading symbol(s)	Name of each Exchange on which registered
Common stock, $0.10 par value per share	VALU	The Nasdaq Capital Market

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 (see General Instruction A.2.):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the of the Securities Exchange Act of 1934.

Emerging growth company ☐

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. ☐

Item 8.01.  Other Events.

On May 31, 2022, the Company issued a press release which is attached as Exhibit 99.1 and is incorporated into this Form 8-K by reference.

Item 9.01. Financial Statements and Exhibits

(d)          Exhibits

Exhibit Number	Description
99.1	Press release dated May 31, 2022
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Current Report to be signed on its behalf by the undersigned hereunto duly authorized.

	VALUE LINE, INC. _________________________                (Registrant)
By:	/s/ Howard A. Brecher
	Howard A. Brecher
	Chairman & Chief Executive Officer

Date: May 31, 2022

EXHIBIT INDEX

Exhibit Number	Description
99.1	Press release dated May 31, 2022
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

EX-99.1

Exhibit 99.1

Value Line, Inc.

551 Fifth Avenue

New York, NY 10176

For Immediate Release

May 31, 2022

NEWS RELEASE

Contact: Howard A. Brecher                                              

Value Line, Inc.

212-907-1500

www.valueline.com

www.ValueLinePro.com, www.ValueLineLibrary.com

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VALUE LINE, INC. ANNOUNCES RENEWAL OF STOCK REPURCHASE PROGRAM

New York – (Globe Newswire) – Value Line, Inc., (NASDAQ: VALU) reported that on May 31, 2022, the Board of Directors approved a renewal of the share repurchase program, effective immediately, allowing the repurchase of shares from time to time, up to an additional amount of $3,000,000. The new repurchase program, which replaces the March 2022 program, has no set price limit and no expiration date and makes available a total of approximately $3.04 million.

"Based on the Company’s current financial picture, we believe that renewal of the repurchase program is in the best interests of our shareholders," said Howard A. Brecher, the Company's Chairman and Chief Executive Officer.

During the twelve months ended April 30, 2022, there were 9,544,421 average common shares outstanding as compared to 9,596,912 average common shares outstanding during the twelve months ended April 30, 2021, reflecting buybacks of shares under the Company’s stock repurchase program. The Company had 9,490,672 shares of common stock outstanding as of May 31, 2022.

The Company’s quarterly report on Form 10-Q has been filed with the SEC and is available on the Company’s website at https://www.valueline.com/About/InvestorRelation.aspx. Shareholders may receive a printed copy, free of charge upon request.

Value Line, Inc. is a leading New York based provider of investment research. The Value Line Investment Survey is one of the most widely used sources of independent equity investment research. Value Line also publishes a range of proprietary investment research in both print and digital formats including research in the areas of Mutual Funds, ETFs and Options. Value Line’s acclaimed research also enables the Company to provide specialized products such as Value Line Select, Value Line Special Situations, Value Line Select: ETFs, Value Line Select: Dividend Income & Growth, The New Value Line ETFs Service, The Value Line M & A Service, The Value Line Information You Should Know Wealth Newsletter, Value Line Climate Change Investing Service and certain Value Line copyrights, distributed under agreements including certain proprietary ranking system information and other proprietary information used in third party products. Investment Advisory services are provided through its substantial non-voting interests in EULAV Asset Management, the investment advisor to The Value Line Family of Mutual Funds. Value Line’s products are available to individual investors by mail, at www.valueline.com or by calling 1-800-VALUELINE or 1-800-825-8354, while institutional-level services for professional investors, advisers, corporate, academic, and municipal libraries are offered at www.ValueLinePro.com, www.ValueLineLibrary.com and by calling 1-800-531-1425.

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Cautionary Statement Regarding Forward-Looking Information

In this report, “Value Line,” “we,” “us,” “our” refers to Value Line, Inc. and “the Company” refers to Value Line and its subsidiaries unless the context otherwise requires.

This report contains statements that are predictive in nature, depend upon or refer to future events or conditions (including certain projections and business trends) accompanied by such phrases as “believe”, “estimate”, “expect”, “anticipate”, “will”, “intend” and other similar or negative expressions, that are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995, as amended. Actual results for the Company may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to the following:

● maintaining revenue from subscriptions for the Company’s digital and print published products;

● changes in investment trends and economic conditions, including global financial issues;

● changes in Federal Reserve policies affecting interest rates and liquidity along with resulting effects on equity markets;

● protecting intellectual property rights in Company methods and trademarks;

● protecting confidential information including customer confidential or personal information that we may possess;

● dependence on non-voting revenues and non-voting profits interests in EULAV Asset Management, a Delaware statutory trust (“EAM” or “EAM Trust”), which serves as the investment advisor to the Value Line Funds and engages in related distribution, marketing and administrative services;

● fluctuations in EAM’s and third party copyright assets under management due to broadly based changes in the values of equity and debt securities, redemptions by investors and other factors;

● possible changes in the valuation of EAM’s intangible assets from time to time;

● generating future revenues or collection of receivables from significant customers;

● dependence on key executive and specialist personnel;

● risks associated with the outsourcing of certain functions, technical facilities, and operations, including in some instances outside the U.S.;

● competition in the fields of publishing, copyright and investment management, along with associated effects on the level and structure of prices and fees, and the mix of services delivered;

● the impact of government regulation on the Company’s and EAM’s businesses;

● availability of free or low cost investment data through discount brokers or generally over the Internet;

● military conflicts, civil unrest, and associated travel and supply disruptions and other effects;

● Russia’s invasion of Ukraine and the impact on inflation;

● terrorist attacks, cyber attacks and natural disasters;

● insufficiency in our business continuity plans or systems in the event of anticipated or unpredictable disruption;

● the coronavirus pandemic, which has drastically affected markets, employment, and other economic conditions, and may have additional unpredictable impacts on employees, suppliers, customers, and operations;

● other possible epidemics;

● changes in prices of materials and other inputs and services, such as freight and postage, required by the Company;

● other risks and uncertainties, including but not limited to the risks described in Item 1A,

2

“Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended April 30, 2021 and in Part II, Item 1A of the Quarterly Report on Form 10-Q for the period ended January 31, 2022; and other risks and uncertainties arising from time to time.

These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of our forward-looking statements. Other unknown or unpredictable factors which may involve external factors over which we may have no control or changes in our plans, strategies, objectives, expectations or intentions, which may happen at any time at our discretion, could also have material adverse effects on future results. Except as otherwise required by applicable law, we have no duty to update these statements, and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks and uncertainties, current plans, anticipated actions, and future financial conditions and results may differ from those expressed in any forward-looking information contained herein.

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XML

Document And Entity Information	May 31, 2022
Document Information [Line Items]
Entity, Registrant Name	Value Line, Inc.
Document, Type	8-K
Document, Period End Date	May 31, 2022
Entity, Incorporation, State or Country Code	NY
Entity, File Number	0-11306
Entity, Tax Identification Number	13-3139843
Entity, Address, Address Line One	551 Fifth Avenue
Entity, Address, City or Town	New York
Entity, Address, State or Province	NY
Entity, Address, Postal Zip Code	10176
City Area Code	212
Local Phone Number	907-1500
Title of 12(b) Security	Common stock
Trading Symbol	VALU
Security Exchange Name	NASDAQ
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity, Emerging Growth Company	false
Amendment Flag	false
Entity, Central Index Key	0000717720