Late filing
Filing comparison
Transportation & Logistics Systems, Inc. told the SEC it could not file its quarterly report on time
However, the registrant must revise the filing prior to submission due to a delay in the effectiveness of a planned reverse stock split. The Form 10-Q was initially prepared on the assumption that the reverse stock split would become effective on or before August 14, 2026. Due to a delay in receiving approval from the Financial Industry Regulatory Authority (FINRA), the reverse stock split will not become effective until a later date. As a result, the registrant must revise the Form 10-Q to replace post-split share and per share figures with pre-split amounts throughout the filing. The registrant is unable to complete these revisions and allow sufficient time for the auditor’s review of the
Evidence
- Anticipates significant change
- None
- Other periodic reports filed
- None
- Severity
- normal
- Source
- Form 12b-25 (notification of late filing)
- Stated reason
- However, the registrant must revise the filing prior to submission due to a delay in the effectiveness of a planned reverse stock split. The Form 10-Q was initially prepared on the assumption that the reverse stock split would become effective on or before August 14, 2026. Due to a delay in receiving approval from the Financial Industry Regulatory Authority (FINRA), the reverse stock split will not become effective until a later date. As a result, the registrant must revise the Form 10-Q to replace post-split share and per share figures with pre-split amounts throughout the filing. The registrant is unable to complete these revisions and allow sufficient time for the auditor’s review of the
- Why
- The company told the SEC it could not file a periodic report on time, using Form 12b-25.