An amendment is grouped with the report it
amends; every 12b-25 notice is one group
Going concern
Filing comparison
Smartbird, Inc. said management's plans alleviate substantial doubt about its ability to continue as a going concern in its first report following a change of registrant
The prior filing was made by a different business under the same CIK, so this is a new disclosure rather than a change.
As of the issuance of the unaudited condensed consolidated financial statements for the quarterly period ended March 31, 2026, the Company disclosed that there was substantial doubt of its ability to continue as a going concern. During the three months ended June 30, 2026, we received net proceeds from the sale of the historical footwear business, from the issuance of our Convertible Notes, and from sales of our common stock under the ATM offering. This, in conjunction with the implementation of cost-cutting measures and the AI Infrastructure Business strategy, alleviated the substantial…
Evidence
Blank check
No
Caveat
The prior filing was made by a different business under the same CIK, so this is a new disclosure rather than a change.
Comparable
No
Current state
doubt_alleviated
Current state label
Substantial doubt raised, alleviated by management's plans
Direction
not comparable
Located in
filing body
Prior filed
2026-05-15
Prior form
10-Q
Registrant changed from
Allbirds, Inc.
Source
ASC 205-40 going-concern note comparison
Why
Disclosure about the company's ability to continue as a going concern changed compared with its previous report.
Smartbird, Inc. filed its quarterly report late and said it expects a significant change in results
expects significant change in results
On June 9, 2026, pursuant to an asset purchase agreement, the Company sold the assets and liabilities associated with the Company's historical footwear business (the “Asset Sale”). The Company requires additional time to review and confirm the accounting treatment for its Asset Sale. The Company expects and intends that this process will be completed in time for the Company to file the Form 10-Q no later than the fifth calendar day following the prescribed due date.
Evidence
Anticipates significant change
Yes
Other periodic reports filed
Yes
Routine
No
Severity
elevated
Source
Form 12b-25 (notification of late filing)
Stated reason
On June 9, 2026, pursuant to an asset purchase agreement, the Company sold the assets and liabilities associated with the Company's historical footwear business (the “Asset Sale”). The Company requires additional time to review and confirm the accounting treatment for its Asset Sale. The Company expects and intends that this process will be completed in time for the Company to file the Form 10-Q no later than the fifth calendar day following the prescribed due date.
Why
The company told the SEC it could not file a periodic report on time, using Form 12b-25.
Allbirds, Inc. disclosed substantial doubt about its ability to continue as a going concern
Risk-factor language only→Substantial doubt about ability to continue as a going concern
Key Factors Affecting Our Performance Our financial and operating conditions have been, and will continue to be, affected by a number of factors, including the following: Liquidity and Capital Resources Recent financial performance, including a net loss of $20.7 million and net cash used in operating activities of $12.1 million in the three months ended March 31, 2026, has raised substantial doubt about the Company’s ability to continue as a going concern. Refer to the section titled Liquidity and Capital Resources and Note 2 to the condensed consolidated financial statements included in Part…
Evidence
Blank check
No
Comparable
Yes
Current state
substantial_doubt
Current state label
Substantial doubt about ability to continue as a going concern
Direction
escalated
Located in
filing body
Prior filed
2025-11-07
Prior form
10-Q
Prior state
risk_factor_only
Prior state label
Risk-factor language only
Source
ASC 205-40 going-concern note comparison
Why
Disclosure about the company's ability to continue as a going concern changed compared with its previous report.
Allbirds, Inc. disclosed substantial doubt about its ability to continue as a going concern
No going-concern disclosure→Substantial doubt about ability to continue as a going concern
Going Concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements, the Company has experienced recurring net losses and negative cash flows that raise substantial doubt about its ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Basis for Opinion These financial statements are the responsibility of the…
Evidence
Blank check
No
Comparable
Yes
Current state
substantial_doubt
Current state label
Substantial doubt about ability to continue as a going concern
Direction
escalated
Located in
going-concern note
Prior filed
2025-03-12
Prior form
10-K
Prior state
none
Prior state label
No going-concern disclosure
Source
ASC 205-40 going-concern note comparison
Why
Disclosure about the company's ability to continue as a going concern changed compared with its previous report.