SEC FILE NUMBER

001-33765
   

CUSIP NUMBER

00941Q104
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

 
  Washington, D.C. 20549  
     
  FORM 12b-25  
     
  NOTIFICATION OF LATE FILING  

 

(Check one):   o Form 10-K x Form 20-F o Form 11-K o Form 10-Q o Form 10-D
    o Form N-CEN o Form N-CSR      
             
   

For Period Ended:

 December 31, 2020
    o Transition Report on Form 10-K    
    o Transition Report on Form 20-F    
    o Transition Report on Form 11-K    
    o Transition Report on Form 10-Q    
    For the Transition Period Ended:  
               

Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.

 

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

 

AirNet Technology Inc.
Full Name of Registrant

 

AirMedia Group Inc.
Former Name if Applicable

 

Suite 301, No. 26 Dongzhimenwai Street, Dongcheng District
Address of Principal Executive Office (Street and Number)

 

Beijing 100027, People’s Republic of China
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)

 

   (a) The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
     
x  (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
     
   (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.

 

AirNet Technology Inc. (the “Company”) is unable to complete its annual report on Form 20-F for the fiscal year ended December 31, 2020 (the “2020 Annual Report”) within the prescribed time period because the Company needs more time to prepare and review its consolidated financial statements. The Company currently expects to file the 2020 Annual Report within the 15-day extension period prescribed by Rule 12b-25(b)(2)(ii) under the Securities Exchange Act of 1934.

 

PART IV — OTHER INFORMATION  

 

(1) Name and telephone number of person to contact in regard to this notification
  Herman Man Guo   (86) 10   8460-8818
  (Name)   (Area Code)   (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  x 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  x 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.
                   

The Company anticipates to report: (i) total revenue of approximately $23.5 million in 2020, as compared to of approximately $26.2 million in 2019; (ii) cost of revenue of approximately $19.6 million in 2020, as compared to of approximately $33.6 million in 2019; (iii) operating expense of approximately $13.1 million in 2020, as compared to of approximately $25.8 million in 2019, and (iv) a net income of approximately US$6.4 million in 2020, compared to a net loss of approximately $33.9 million in 2019.

 

 

 

 

Forward-looking Statements

 

This notification contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. The words “expects,” “intends,” “anticipates” and similar terms and phrases are used in this notification to identify forward-looking statements. Risks, uncertainties and assumptions that could affect the Company’s forward-looking statements include, among other things, any changes to our anticipated financial results as a result of our independent registered public accounting firm completing its audit of the Company’s financial statements, the ability of us and our auditors to confirm information or data identified in the review, our ability to complete and file future periodic filings with the SEC on a timely basis and other risks and uncertainties discussed more fully in the Company’s filings with the SEC. Unless required by law, the Company expressly disclaims any obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

  

  AirNet Technology Inc.  
(Name of Registrant as Specified in Charter)
 

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: April 30, 2021 By: /s/ Herman Man Guo
    Name:   Herman Man Guo
    Title:     Chairman, Chief Executive Officer and Interim Chief Financial Officer

 

 

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