Hey everyone,
I am new here and been eyeing with EONR for about two months now but to be honest I don't really know what to make of this 10-K form filing issue, as I haven't seen such case before - so I thought to ask this good community! :)
So here is my understanding:
- they should have filed on April 1st (or maybe before?)
- they filed a 12b-25 form admitting for late notification on April 1st and they agreed to file the 10-K until April 16th ("The Registrant undertakes the responsibility to file, and anticipates that it will file, the Form 10-K no later than fifteen days after its original prescribed due date.")
- they didn't keep to this responsibility however and havent filed
- so they got a notification on April 22nd that they are late, and in this press release they said "The Company is working diligently to complete the necessary work to file the Form 10-K as soon as practicable and currently expects to file the Form 10-K within the six-month period granted by the NYSE Notice; however, there can be no assurance that the Form 10-K will be filed within such period."
- they said on their earnings call they see no reason to file it within a week, but it was on April 28th, so depending on how one interprets "within a week", they should have filed it in yestarday or today the latest
Tbh this is the only thing keeping me from pulling the trigger, because I don't know any normal reason, why they couldn't keep to the filing deadline twice (and now probably the third time) because this doesn't seem like it should such a difficult task for a public company.
It also bothers me that they said "there can be no assurance that the Form 10-K will be filed within such period." - this doesnt truly inspire hope tbh...
I dont mean to trash on the stock since I actually want to buy it, but I have never seen an issue like this with any stock in my life (disclosure: I am new to pennystocks) and cannot really make sense of how much of a risk this can be.
Thanks for any helpful answer in advance!