Late filing
high
Filing comparison
Foxx Development Holdings Inc. filed its quarterly report late and said it expects a significant change in results
expects significant change in results 3 days past the statutory due date.
(the “Company”) is filing this Notification of Late Filing on Form 12b-25 with respect to its Quarterly Report on Form 10-Q for the three and nine months ended March 31, 2026 (the “Form 10-Q”). The Company is in the change in business strategy to engage in dropship arrangement, which has resulted in excess warehouse space to be subleased at below-lease rates, causing the carrying amount of the right-of-use assets to be not recoverable and to exceed their estimated fair value. As a result, the Company needs additional time and effort to assess the impact of the impairments of its right-of-use assets on the leases that were commenced in January 2026 and is unable to file, without unreasonable…
Evidence
- Anticipates significant change
- Yes
- Days past due date
- 3
- Other periodic reports filed
- Yes
- Routine
- No
- Severity
- high
- Source
- Form 12b-25 (notification of late filing)
- Stated reason
- (the “Company”) is filing this Notification of Late Filing on Form 12b-25 with respect to its Quarterly Report on Form 10-Q for the three and nine months ended March 31, 2026 (the “Form 10-Q”). The Company is in the change in business strategy to engage in dropship arrangement, which has resulted in excess warehouse space to be subleased at below-lease rates, causing the carrying amount of the right-of-use assets to be not recoverable and to exceed their estimated fair value. As a result, the Company needs additional time and effort to assess the impact of the impairments of its right-of-use assets on the leases that were commenced in January 2026 and is unable to file, without unreasonable…
- Why
- The company told the SEC it could not file a periodic report on time, using Form 12b-25.