Late filing
elevated
Filing comparison
OceanPal Inc. filed its annual report late and said it expects a significant change in results
expects significant change in results 30 days past the statutory due date.
(the “Company”) is unable to file its Annual Report on Form 20-F for the fiscal year ended December 31, 2025 (the “Form 20-F”) by the prescribed due date without unreasonable effort or expense. During the fiscal year ended December 31, 2025, the Company underwent a strategic transformation from a shipping operating company into a digital asset treasury vehicle holding NEAR Protocol native tokens through its wholly-owned subsidiary, SovereignAI Services LLC. As a result, the Company's audited consolidated financial statements for fiscal year 2025 reflect substantial new accounting matters that are not present in the prior year's financial statements, including, among other things: (i) the…
Evidence
- Anticipates significant change
- Yes
- Days past due date
- 30
- Other periodic reports filed
- Yes
- Routine
- No
- Severity
- elevated
- Source
- Form 12b-25 (notification of late filing)
- Stated reason
- (the “Company”) is unable to file its Annual Report on Form 20-F for the fiscal year ended December 31, 2025 (the “Form 20-F”) by the prescribed due date without unreasonable effort or expense. During the fiscal year ended December 31, 2025, the Company underwent a strategic transformation from a shipping operating company into a digital asset treasury vehicle holding NEAR Protocol native tokens through its wholly-owned subsidiary, SovereignAI Services LLC. As a result, the Company's audited consolidated financial statements for fiscal year 2025 reflect substantial new accounting matters that are not present in the prior year's financial statements, including, among other things: (i) the…
- Why
- The company told the SEC it could not file a periodic report on time, using Form 12b-25.