Notification That Quarterly Report Will Be Submitted Late (nt 10-q)
16 August 2022 - 6:03AM
Edgar (US Regulatory)
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SEC FILE NUMBER |
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001-39418 |
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CUSIP NUMBER |
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28252C109 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION
OF LATE FILING
(Check One): ☐
Form 10-K ☐ Form 20-F ☐
Form 11-K ☒ Form 10-Q ☐
Form 10-D ☐ Form N-CEN ☐
Form N-CSR
For Period Ended: June 30, 2022
| ☐ | Transition Report on Form 10-K |
| ☐ | Transition Report on Form 20-F |
| ☐ | Transition Report on Form 11-K |
| ☐ | Transition Report on Form 10-Q |
For the Transition Period Ended:
Read Instructions (on back page) Before
Preparing Form. Please Print or Type.
Nothing in this form shall be construed
to imply that the Commission has verified any information contained herein.
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If the notification relates to a portion of the filing checked
above, identify the Item(s) to which the notification relates:
PART I - REGISTRANT INFORMATION
Polished.com Inc.
Full Name
of Registrant
Former Name if Applicable
1870 Bath Avenue
Address of Principal Executive
Office (Street and Number)
Brooklyn, NY 11214
City, State and Zip Code
PART II -
RULES 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable
effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)
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(a) |
The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense |
☐ |
(b) |
The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and |
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(c) |
The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable. |
PART III - NARRATIVE
State below in reasonable detail
why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed
time period.
Polished.com Inc. (the “Company”) is
unable to file its quarterly report on Form 10-Q for the period ended June 30, 2022 (“Second Quarter 10-Q”) within the prescribed
time period because it requires additional time to complete the investigation described below.
The Audit Committee of the Company’s
Board of Directors (“Audit Committee”) recently began an independent investigation regarding certain allegations made by certain former
employees related to the Company’s business operations. The investigation is ongoing, and the Audit Committee continues to work
diligently with independent counsel and consultants to complete the investigation as soon as possible. The Company cannot predict the
duration of the investigation, eventual scope, its outcome, or its impact on the Company’s financial results. As a result of the
additional time required to complete the investigation, the Company has not finalized its financial statements for the period ended June
30, 2022. The Company expects that it will finalize its financial statements and file the related Second Quarter 10-Q as soon as practicable
after the conclusion of the investigation, but does not anticipate that it will be in a position to file the Second Quarter 10-Q on or
before the fifth calendar date following the required filing date as prescribed in Rule 12b-25.
Forward-Looking Statements
This Form 12b-25 includes “forward-looking
statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding
the outcome of the Audit Committee investigation and the completion of matters necessary to permit the filing of the Second Quarter 10-Q.
All statements, other than statements of historical fact, contained in this Form 12b-25 are forward-looking statements. Forward-looking
statements contained in this Form 12b-25 may be identified by the use of words such as “anticipate,” “believe,” “contemplate,”
“could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,”
“plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,”
“will”, “would,” or the negative of these words or other similar expressions, although not all forward-looking statements
contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties,
risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future
events that may not prove to be accurate. You should not place undue reliance on forward-looking statements because they involve known
and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company’s control and which could materially
affect results. Factors that may cause actual results to differ materially from current expectations include, among other things, those
described more fully in the section titled “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended
December 31, 2021, and Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, filed with the Securities and Exchange Commission.
Forward-looking statements contained in this Form 12b-25 are made as of this date, and the Company undertakes no duty to update such information
except as required under applicable law.
PART IV -
OTHER INFORMATION
| (1) | Name and telephone number of person to contact in regard to this notification |
Albert Fouerti |
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(800) |
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299-9470 |
(Name) |
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(Area Code) |
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(Telephone
Number) |
(2) | Have all other periodic reports required under Section 13 or 15(d) of the Securities
Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that
the registrant was required to file such report(s) been filed? If answer is no, identify report(s). Yes ☒
No ☐ |
| |
(3) | Is it anticipated that any significant change in results of operations from the
corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion
thereof? Yes ☐ No ☒ |
If so, attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.
Polished.com Inc.
(Name of Registrant as Specified
in its Charter)
has caused this notification to be signed on its behalf
by the undersigned hereunto duly authorized.
Dated: August 15, 2022 |
By: |
/s/ Albert Fouerti |
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Name: |
Albert Fouerti |
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Title: |
Chief Executive Officer |
ATTENTION
Intentional misstatements or omissions
of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).
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