2 weeks Ago By Defense World Staff
Upexi, Inc. (NASDAQ: UPXI) recently disclosed in a Form 8-K filing with the Securities and Exchange Commission (SEC) that it has received a notice from The Nasdaq Stock Market LLC (“Nasdaq”) on November 20, 2024. The notice was regarding the company’s failure to submit its Quarterly Report on Form 10-Q for the period ending September 30, 2024, and its remaining delinquency in filing the Annual Report on Form 10-K for the year ended June 30, 2024.
This non-compliance led to Upexi being in violation of Nasdaq Listing Rule 5250(c)(1). According to Nasdaq Listing Rules, Upexi has until December 20, 2024, to present a compliance plan. If the plan is accepted, an extension of up to 180 calendar days from the initial delinquent filing deadline (April 14, 2025) may be granted to achieve compliance.
It is important to note that the notice does not have an immediate impact on the listing or trading of Upexi’s common stock. While the information contained in the filing, including the press release, is being provided, it is emphasized that it shall not be considered “filed” under Section 18 of the Securities Exchange Act of 1934 or be incorporated by reference in any previous or future filings unless explicitly stated in such filing. Moving forward, investors should be mindful of the uncertainties and risks associated with Upexi as highlighted in its previous filings with the SEC.
The company advises referring to its Annual Report on Form 10-K for the year ended June 30, 2023, and subsequent Quarterly Reports on Form 10-Q for further insights into potential factors that could impact its future performance significantly. In another development, Upexi announced some future plans in the press release, outlining its intentions to achieve compliance with Nasdaq rules and continue its growth strategy as a multi-faceted brand owner in various market segments, aiming to foster organic growth of its current brands. Investors and stakeholders are encouraged to watch for updates and monitor the company’s progress in resolving the compliance issues as outlined by Nasdaq.
The article also contained forward-looking statements regarding Upexi’s market positions and strategies which should be analyzed with caution, considering the inherent uncertainties and risks involved in such projections. This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Upexi’s 8K filing here .
Upexi Company Profile ( Get Free Report ) Upexi, Inc manufactures and sells various branded products in the health, wellness, pet, beauty, and other markets. The company was formerly known as Grove, Inc and changed its name to Upexi, Inc in August 2022. The company was incorporated in 2018 and is headquartered in Clearwater, Florida.
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