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Alpine 4 Holdings (NASDAQ: ALPP) announced on August 21, 2024, it received an Additional Staff Determination letter from Nasdaq on August 16, 2024, citing delinquency in filing its Q2 Quarterly Report for June 30, 2024, which may lead to delisting. This follows previous delays in filing the Annual Report for December 31, 2023, and Q1 Quarterly Report for March 31, 2024.
Nasdaq had granted an extension for these filings on July 25, 2024, allowing the company to remain listed, but the latest delinquency jeopardizes this status. The company must present its case by August 23, 2024. Despite the situation, ALPP stock remains listed and traded on the Nasdaq Capital Market, pending further hearings and approvals from Nasdaq.
Alpine 4 Holdings (NASDAQ: ALPP) ha annunciato il 21 agosto 2024 di aver ricevuto una lettera di determinazione aggiuntiva dallo Nasdaq il 16 agosto 2024, in cui si evidenzia la mancata presentazione del suo Rapporto Trimestrale Q2 per il 30 giugno 2024, il che potrebbe portare a un delisting. Questo arriva dopo ritardi precedenti nella presentazione del Rapporto Annuale per il 31 dicembre 2023 e del Rapporto Trimestrale Q1 per il 31 marzo 2024.
Nasdaq aveva concesso un’estensione per queste presentazioni il 25 luglio 2024, consentendo alla società di rimanere quotata, ma l’ultima inadempienza mette in pericolo questo status. La società deve presentare il suo caso entro il 23 agosto 2024. Nonostante la situazione, le azioni ALPP rimangono quotate e vengono scambiate sul Nasdaq Capital Market, in attesa di ulteriori udienze e approvazioni da parte del Nasdaq.
Alpine 4 Holdings (NASDAQ: ALPP) anunció el 21 de agosto de 2024 que recibió una carta de determinación adicional de Nasdaq el 16 de agosto de 2024, citando la demora en la presentación de su Informe Trimestral Q2 para el 30 de junio de 2024, lo que podría llevar a un delisting. Esto sigue a retrasos anteriores en la presentación del Informe Anual para el 31 de diciembre de 2023 y el Informe Trimestral Q1 para el 31 de marzo de 2024.
Nasdaq había otorgado una extensión para estas presentaciones el 25 de julio de 2024, permitiendo que la empresa se mantuviera listada, pero la última demora pone en peligro este estatus. La empresa debe presentar su caso antes del 23 de agosto de 2024. A pesar de la situación, las acciones de ALPP siguen listadas y se comercializan en el Nasdaq Capital Market, a la espera de nuevas audiencias y aprobaciones de Nasdaq.
알파인 4 홀딩스(NASDAQ: ALPP)는 2024년 8월 21일, 2024년 8월 16일 낱삭에서 추가 직원 결정 통지를 받았다고 발표했습니다. 이 통지는 2024년 6월 30일 마감된 2분기 분기 보고서를 제출하지 않았다는 내용을 담고 있으며, 이는 상장 폐지로 이어질 수 있습니다. 이는 2023년 12월 31일 연차 보고서와 2024년 3월 31일 1분기 분기 보고서 제출의 이전 지연에 이어지는 것입니다.
낱삭은 2024년 7월 25일 이러한 제출에 대한 연장을 허용하여 회사가 상장 상태를 유지할 수 있도록 했으나, 최근의 지연은 이 상태를 위태롭게 하고 있습니다. 회사는 2024년 8월 23일까지 자신의 입장을 제시해야 합니다. 상황에도 불구하고 ALPP 주식은 여전히 낱삭 자본 시장에 상장되어 거래되고 있으며, 추가 심리와 낱삭의 승인 대기 중에 있습니다.
Alpine 4 Holdings (NASDAQ: ALPP) a annoncé le 21 août 2024 avoir reçu une lettre de détermination complémentaire de Nasdaq le 16 août 2024, faisant état d’un retard dans le dépôt de son rapport trimestriel Q2 pour le 30 juin 2024, ce qui pourrait entraîner un retrait de la cotation. Cela fait suite à des retards précédents dans le dépôt du rapport annuel au 31 décembre 2023 et du rapport trimestriel Q1 au 31 mars 2024.
Nasdaq avait accordé une prolongation pour ces dépôts le 25 juillet 2024, permettant à la société de rester cotée, mais le dernier retard compromet ce statut. La société doit présenter son cas d’ici le 23 août 2024. Malgré la situation, l’action ALPP reste cotée et échangée sur le marché des capitaux Nasdaq, en attente de nouvelles auditions et approbations de Nasdaq.
Alpine 4 Holdings (NASDAQ: ALPP) gab am 21. August 2024 bekannt, dass es am 16. August 2024 einen zusätzlichen Feststellungsbrief von Nasdaq erhalten hat, in dem auf eine Verspätung bei der Einreichung seines Quartalsberichts Q2 zum 30. Juni 2024 hingewiesen wurde, was zu einem Delisting führen könnte. Dies folgt auf frühere Verzögerungen bei der Einreichung des Jahresberichts zum 31. Dezember 2023 und des Quartalsberichts Q1 zum 31. März 2024.
Nasdaq hatte am 25. Juli 2024 eine Fristverlängerung für diese Einreichungen gewährt, die es dem Unternehmen ermöglichte, gelistet zu bleiben, jedoch gefährdet die letzte Verzögerung diesen Status. Das Unternehmen muss seinen Fall bis zum 23. August 2024 vorlegen. Trotz der Situation bleibt die ALPP-Aktie an der Nasdaq Capital Market gelistet und wird gehandelt, während es auf weitere Anhörungen und Genehmigungen von Nasdaq wartet.
Negative
- Nasdaq issued an Additional Staff Determination letter due to delinquency in filing the Q2 Quarterly Report for June 30, 2024.
- Company has a history of delays, including the Annual Report for December 31, 2023, and Q1 Quarterly Report for March 31, 2024.
- The latest delinquency risks the company’s continued listing on Nasdaq.
Alpine 4 Holdings’ receipt of an Additional Staff Determination letter from Nasdaq is a significant red flag for investors. The company’s failure to file its Q2 2024 Quarterly Report on time, following previous delinquencies, points to ongoing financial reporting issues. This pattern of delays raises concerns about the company’s internal controls and financial management capabilities.
The potential delisting threat is a major risk for shareholders. If Alpine 4 loses its Nasdaq listing, it could lead to reduced liquidity, lower trading volumes and potentially a significant drop in stock price. The company’s ability to meet the conditions set by Nasdaq will be important for maintaining investor confidence and market access.
Investors should closely monitor the company’s response to the Panel and its ability to file the required reports within the given timeframe. The outcome of this situation could have substantial implications for the stock’s future performance and the company’s access to capital markets.
The Nasdaq Staff Determination letter Alpine 4 Holdings received represents a serious regulatory challenge. The company’s multiple filing delinquencies indicate potential non-compliance with SEC reporting requirements, which could lead to further regulatory scrutiny beyond just the Nasdaq listing issues.
The company’s plan to present its views to the Nasdaq Panel by August 23, 2024, is a critical juncture. Their ability to provide a convincing explanation and a clear timeline for compliance will be essential. However, given the repeated delays, the Panel may be less inclined to grant further extensions.
Investors should be aware that while the stock continues to trade, this situation creates heightened legal and regulatory risks. If Alpine 4 fails to meet Nasdaq’s conditions, it could face delisting, potentially triggering breach of contract clauses in financing agreements or shareholder lawsuits, adding to the company’s challenges.
PHOENIX, AZ / ACCESSWIRE / August 21, 2024 / Alpine 4 Holdings, Inc. (NASDAQ:ALPP) (the “Company”), announced today that on August 16, 2024, the Company received an Additional Staff Determination letter (the “August 16 Letter”) from The Nasdaq Stock Market (“Nasdaq”) informing the Company that because the Company is delinquent in filing its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 (the “Q2 Quarterly Report”), such delinquency would serve as an additional basis for delisting the Company’s securities from Nasdaq.
The Staff Determination was issued because the Company did not file its Q2 Quarterly Report in a timely manner. As previously disclosed, the Company had participated in a Hearing with the Nasdaq Hearing Panel (“the “Panel”) on July 2, 2024, in relation to its delinquent public reports, namely the Annual Report on Form 10-K for the year ended December 31, 2023, and the Quarterly Report on Form 10-Q for the period ended March 31, 2024. At the Hearing, the Company informed the Panel that the Company would likely be delinquent in filing the Q2 Quarterly Report due to the sequential order of these filings and had provided the Panel with the Company’s plan for completing the filing of the Q2 Quarterly Report.
As also previously reported, on July 25, 2024, the Company received written notification (the “Extension Letter”) from the Nasdaq Hearings Panel notifying the Company of its decision to grant the Company’s request to continue its listing on Nasdaq subject to the Company’s meeting certain conditions outlined in the Extension Letter, which included the filing of the Q2 Quarterly Report within the time proposed by the Company to the Panel.
The August 16 Letter further stated that it was a formal notification that the Panel would consider this additional delinquency in rendering a determination regarding the Company’s continued listing on Nasdaq. The August 16 Letter invited the Company to present its views with respect to the additional deficiency to the Panel in writing no later than August 23, 2024.
The Company plans to present its views relating to the filing of the Q2 Quarterly Report to the Panel by August 23, 2024.
The August 16 Letter has no immediate impact on the listing of the Company’s Common Stock, which will continue to be listed and traded on The Nasdaq Capital Market under the symbol “ALPP,” subject to the Company’s proceeding with the planned hearing before the Panel and subject to Nasdaq’s approval of the Company’s request to extend the stay on delisting proceedings until the date of the hearing.
Forward-Looking Statements
This Report contains forward-looking statements that involve risks and uncertainties. For example, forward-looking statements include statements regarding the timing of the filing of the Quarterly Reports and the Annual Report, the Company’s intention to provide additional information to the Panel, the outcome of the review by the Panel of the additional delinquency, and the Company’s ability to regain compliance with the Listing Rules. Actual results could differ materially from the results projected in or implied by the forward-looking statements made in this report. Factors that might cause these differences include, but are not limited to: the possibility of unanticipated delays that will prevent the filing of the Q2 Quarterly Report pursuant to the anticipated timeline; the risk that the work necessary to complete the Q2 Quarterly Report is greater than anticipated or may involve the resolution of additional issues identified during the review process; the potential inability of the Company to file a plan to regain compliance in a timely manner; the risk that the Company may not respond adequately to further inquiries from Nasdaq; and the risk that Nasdaq will not grant a stay of the delisting proceedings or accept any plan to regain compliance and will delist the Company’s Class A common stock. Other risk factors that may impact these forward-looking statements are discussed in more detail in the Company’s 2022 Annual Report on Form 10-K filed with the SEC on May 5, 2023. Copies of the Company’s 2022 Annual Report and other periodic reports are available through the Company’s Investor Relations department and website, alpine4.com. The Company expressly disclaims any obligation or intention to update these forward-looking statements to reflect new information and developments.
Contact: investorrelations@alpine4.com
Contact Information
Investor Relations
investorrelations@alpine4.com
SOURCE: Alpine 4 Holdings, Inc.
View the original press release on newswire.com.
FAQ
Why did Alpine 4 Holdings receive an Additional Staff Determination letter from Nasdaq?
Alpine 4 Holdings received an Additional Staff Determination letter from Nasdaq due to delinquency in filing its Q2 Quarterly Report for June 30, 2024.
What reports has Alpine 4 Holdings delayed filing?
Alpine 4 Holdings has delayed filing its Annual Report for December 31, 2023, and its Quarterly Reports for March 31, 2024, and June 30, 2024.
What is the impact of the August 16, 2024 letter on ALPP stock?
The August 16, 2024 letter has no immediate impact on ALPP stock, which remains listed and traded on the Nasdaq Capital Market, pending further hearings and approvals.
What is the deadline for Alpine 4 Holdings to present its views to the Nasdaq Panel?
Alpine 4 Holdings must present its views to the Nasdaq Panel by August 23, 2024.
