Xcel Brands, which recently made news by acquiring the LOGO by Lori Goldstein brand and receiving a $100 million capital injection, has disclosed that it received a delisting warning from Nasdaq because it was late filing its most recent 10-K.
In an April 22 filing with the Securities and Exchange Commission, the company said that it received the warning on April 16, and that it intended to file the report “as soon as practicable.”
In fact, Xcel Brands filed the annual report that day. The filing showed the company reporting a $13 million net loss for the fiscal year 2020, worse than the $3.4 million net loss it had posted the prior year.
The Nasdaq notice had no immediate effect on the company’s stock, which at press time was trading at $1.60 a share.
(Photo: Getty)
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