PHOENIX, AZ - Alpine 4 Holdings, Inc. (NASDAQ:ALPP), a diversified technology holding company, is confronting the possibility of its securities being delisted from the Nasdaq Stock Market due to delays in filing financial reports.
The company disclosed that it received a notification on May 22, 2024, from Nasdaq, citing its failure to submit the quarterly report for the period ending March 31, 2024, as an additional ground for potential delisting.
In response to the delinquency, Nasdaq has granted a temporary reprieve, halting the delisting process until June 6, 2024. Alpine 4 has expressed its intention to request an extension of this stay until at least the hearing scheduled for July 2, 2024. At this upcoming hearing, Alpine 4 plans to present its case, detailing the reasons for the filing delays and outlining the steps being taken to resolve the issue.
The delays in question pertain to the company's quarterly reports for the periods ending September 30, 2023, and March 31, 2024, as well as the annual report for the year ending December 31, 2023. Alpine 4 has indicated that it is working closely with its auditors and advisors to finalize the necessary disclosures and submit the overdue filings to the Securities and Exchange Commission (SEC) as promptly as possible.
Alpine 4 Holdings operates a business model that involves acquiring companies across various sectors, including aerospace, commercial technologies, 3D mapping software, and manufacturing. The company seeks to integrate these acquisitions to foster innovation and drive competitive advantages.
The press release from Alpine 4 also contains forward-looking statements regarding the anticipated timing for filing the overdue reports and the company's plans to regain compliance with Nasdaq's listing rules. Still, it acknowledges the risks of unforeseen delays and the possibility that the efforts may not meet Nasdaq's requirements, which could result in the delisting of Alpine 4's Class A common stock.
This news is based on a press release statement from Alpine 4 Holdings, Inc. and reflects the company's current situation regarding its compliance with Nasdaq listing standards. Investors are advised to monitor the situation for further developments.
InvestingPro Insights
As Alpine 4 Holdings (NASDAQ:ALPP) navigates the challenges of potential Nasdaq delisting, current and prospective investors are closely monitoring the company's financial health and market performance. According to real-time data from InvestingPro, Alpine 4 Holdings is trading at a low Price / Book multiple of 0.25 as of the last twelve months ending Q2 2023. This valuation metric can be particularly intriguing for value investors seeking assets that may be undervalued relative to their book value.
InvestingPro Tips highlight that Alpine 4 operates with a significant debt burden and is quickly burning through cash, which are critical considerations given the company's recent financial reporting delays. Furthermore, the stock has experienced a notable decline, with a 1 Year Price Total Return of -77.05% as of the date provided. These factors are essential for investors to consider as they assess the risk and potential of ALPP's stock.
Despite the challenges, Alpine 4 Holdings reported a robust Revenue Growth of 32.66% over the last twelve months ending Q2 2023, indicating a strong top-line expansion. However, it's important to note that the company's Gross Profit Margin stands at 21.61%, reflecting the pressure on profitability.
For investors seeking a deeper analysis, there are additional InvestingPro Tips available on the platform, which can provide further insight into Alpine 4's financial standing and market outlook. To explore these tips and make more informed investment decisions, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at https://www.investing.com/pro/ALPP.
With the current financial reporting delays and the upcoming hearing with Nasdaq, these InvestingPro insights and tips could prove valuable for investors following Alpine 4 Holdings' journey through these challenging times.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.