Gencor Announces Receipt of NYSE Regulation Notice Regarding Late Filing of the Annual Report on Form 10-K for the Year Ended September 30, 2024
Gencor Industries (NYSE: GENC) has received a filing delinquency notification from NYSE Regulation on January 3, 2025, due to its failure to file its Annual Report on Form 10-K for the fiscal year ended September 30, 2024, by the December 31, 2024 deadline.
The notification has no immediate impact on the company's stock listing or trading on NYSE American. Gencor has been granted a six-month period from December 31, 2024, to regain compliance by filing the Form 10-K. The NYSE may grant an additional six-month extension at its discretion, though it reserves the right to initiate delisting proceedings if circumstances warrant.
While the company expects to file the Form 10-K within the initial six-month period, there is no guarantee of meeting this timeline.
Gencor Industries (NYSE: GENC) ha ricevuto una notifica di inadempienza di deposito dalla NYSE Regulation il 3 gennaio 2025, a causa della sua mancata presentazione del Rapporto Annuale sul Modulo 10-K per l'anno fiscale conclusosi il 30 settembre 2024, entro la scadenza del 31 dicembre 2024.
La notifica non ha impatto immediato sulla quotazione o sul trading delle azioni su NYSE American. A Gencor è stato concesso un periodo di sei mesi a partire dal 31 dicembre 2024 per ripristinare la conformità presentando il Modulo 10-K. La NYSE può concedere un ulteriore prolungamento di sei mesi a sua discrezione, sebbene si riservi il diritto di avviare procedimenti di esclusione se le circostanze lo richiedono.
Sebbene l'azienda preveda di presentare il Modulo 10-K entro il periodo iniziale di sei mesi, non c'è garanzia di rispettare questo termine.
Gencor Industries (NYSE: GENC) ha recibido una notificación de incumplimiento de presentación de NYSE Regulation el 3 de enero de 2025, debido a su falta de presentación del Informe Anual en el Formulario 10-K para el año fiscal que finalizó el 30 de septiembre de 2024, antes de la fecha límite del 31 de diciembre de 2024.
La notificación no tiene impacto inmediato en la cotización o el comercio de acciones en NYSE American. A Gencor se le ha otorgado un período de seis meses a partir del 31 de diciembre de 2024 para recuperar la conformidad presentando el Formulario 10-K. La NYSE puede otorgar una prórroga adicional de seis meses a su discreción, aunque se reserva el derecho de iniciar procedimientos de exclusión si las circunstancias lo justifican.
Si bien la empresa espera presentar el Formulario 10-K dentro del período inicial de seis meses, no hay garantía de cumplir con este plazo.
겐코르 산업 (NYSE: GENC)는 2025년 1월 3일 NYSE 규제 당국으로부터 제출 불이행 통지를 받았습니다. 이는 2024년 9월 30일에 종료된 회계 연도에 대한 연례 보고서인 10-K 양식을 2024년 12월 31일 마감일까지 제출하지 않았기 때문입니다.
이 통지는 회사의 주식 상장이나 NYSE 아메리카에서의 거래에 즉각적인 영향을 미치지 않습니다. 겐코르는 2024년 12월 31일부터 6개월의 기간이 부여되어 10-K 양식을 제출함으로써 규정을 준수해야 합니다. NYSE는 상황에 따라 추가적인 6개월의 연장을 부여할 수 있지만, 필요 시 상장 폐지 절차를 시작할 권리를 보유합니다.
회사는 초기에 6개월 내에 10-K 양식을 제출할 것으로 예상하지만, 이 일정이 지켜질 것이라는 보장은 없습니다.
Gencor Industries (NYSE: GENC) a reçu une notification de défaut de dépôt de NYSE Regulation le 3 janvier 2025, en raison de son incapacité à déposer son Rapport Annuel sur le Formulaire 10-K pour l'exercice clos le 30 septembre 2024, avant la date limite du 31 décembre 2024.
La notification n'a aucun impact immédiat sur la cotation ou le commerce des actions sur la NYSE American. Gencor a obtenu un délai de six mois à compter du 31 décembre 2024 pour retrouver la conformité en déposant le Formulaire 10-K. La NYSE peut accorder une extension de six mois supplémentaire à sa discrétion, mais se réserve le droit de commencer des procédures de radiation si les circonstances l'exigent.
Bien que l'entreprise s'attende à déposer le Formulaire 10-K dans le délai initial de six mois, il n'y a aucune garantie de respecter ce calendrier.
Gencor Industries (NYSE: GENC) erhielt am 3. Januar 2025 eine Mitteilung über einen Einreichungsrückstand von der NYSE Regulation, da das Unternehmen seinen Jahresbericht auf Formular 10-K für das am 30. September 2024 endende Geschäftsjahr nicht bis zur Frist vom 31. Dezember 2024 eingereicht hat.
Die Mitteilung hat keine unmittelbaren Auswirkungen auf die Börsennotierung oder den Handel der Aktien an der NYSE American. Gencor wurde ein sechsmonatiger Zeitraum ab dem 31. Dezember 2024 gewährt, um die Einhaltung durch Einreichung des Formulars 10-K wiederherzustellen. Die NYSE kann nach eigenem Ermessen eine zusätzliche sechsmonatige Verlängerung gewähren, behält sich jedoch das Recht vor, Verfahren zur Delistung einzuleiten, wenn die Umstände es erfordern.
Obwohl das Unternehmen plant, das Formular 10-K innerhalb des anfänglichen sechsmonatigen Zeitraums einzureichen, gibt es keine Garantie, dass dieser Zeitrahmen eingehalten wird.
- Six-month compliance period granted by NYSE with possibility of additional six-month extension
- No immediate impact on stock listing or trading status
- Failure to file Annual Report (Form 10-K) by extended deadline
- Risk of potential delisting if compliance is not achieved
- Uncertainty about meeting the six-month filing deadline
Insights
The late filing notification from NYSE American represents a significant compliance issue for Gencor Industries. The company's failure to file its Form 10-K by the extended deadline of December 31, 2024, triggers regulatory procedures under Section 1007 of the NYSE American Company Guide. While trading continues unaffected for now, this development raises several red flags.
The six-month compliance window, ending June 30, 2025, is critical. Though an additional six-month extension is possible, the NYSE's discretion to initiate delisting proceedings at any time creates substantial uncertainty. The lack of detailed explanation for the delay in the company's Form 12b-25 filing is particularly concerning from a governance perspective. For a company with a market cap of
The situation mirrors similar cases where companies delayed filings due to accounting complexities, internal control issues, or auditor concerns. These delays often indicate underlying operational or financial reporting challenges that warrant careful scrutiny. The vague commitment to file "within the six-month period" without specific timing suggests potential complexity in resolving the underlying issues.
This filing delay creates material investment risks that demand immediate attention. Historical patterns show that companies experiencing SEC filing delays often face increased volatility and potential value deterioration. The lack of current financial data creates an information vacuum that typically leads to:
- Increased borrowing costs and strained relationships with creditors
- Heightened scrutiny from institutional investors and potential portfolio rebalancing
- Elevated risk of shareholder litigation
For retail investors, think of this like driving through fog - you know the road is there, but you can't see clearly what's ahead. The machinery manufacturing sector requires substantial working capital and inventory management. Without current financial statements, investors cannot properly assess Gencor's operational efficiency, cash flow position, or market adaptation strategies in a challenging economic environment.
ORLANDO, Fla., Jan. 10, 2025 (GLOBE NEWSWIRE) -- Gencor Industries, Inc. (the “Company”) (NYSE American: GENC) announced that on January 3, 2025 it received a filing delinquency notification (the “Delinquency Notification”) from the NYSE Regulation (the “NYSE”) indicating that, as a result of the delay in filing its Annual Report on Form 10-K for the year ended September 30, 2024 (the “Form 10-K”) with the Securities and Exchange Commission (the “SEC”) by the filing due date of December 31, 2024, the end of the extension period provided by Form 12b-25, the Company is not in compliance with NYSE American LLC’s (“NYSE American”) continued listing standards and is now subject to the procedures and requirements set forth in Section 1007 of the NYSE American Company Guide. The receipt of the Delinquency Notification has no immediate effect on the listing or trading of the Company’s common stock on NYSE American.
The Company previously discussed the circumstances behind the late filing of the Form 10-K in a Notification of Late Filing on Form 12b-25, filed with the SEC on December 17, 2024.
The NYSE informed the Company that, under NYSE rules, the Company has six months from the Form 10-K filing due date of December 31, 2024, to regain compliance with the NYSE listing standards by filing the Form 10-K with the SEC. The NYSE further noted that, if the Company fails to file the Form 10-K within the six-month period, the NYSE may grant, at its sole discretion, an extension of up to six additional months for the Company to regain compliance, depending on the Company’s specific circumstances. The Delinquency Notification also notes that the NYSE may nevertheless commence delisting proceedings at any time if it deems that the circumstances warrant.
The Company currently expects to file the Form 10-K within the six-month period granted by the Delinquency Notification; however, there can be no assurance that the Form 10-K will be filed within such period.
Gencor Industries is a diversified heavy machinery manufacturer for the production of highway construction materials and equipment and environmental control machinery and equipment used in a variety of applications.
Caution Concerning Forward Looking Statements - This press release and our other communications and statements may contain certain “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 (the “Exchange Act”), including statements about the Company’s beliefs, plans, objectives, goals, expectations, estimates, projections and intentions. These statements are subject to significant risks and uncertainties and are subject to change based on various factors, many of which are beyond the Company’s control. Actual results may differ materially depending on a variety of important factors, including the financial condition of the Company’s customers, changes in the economic and competitive environments and demand for the Company’s products. In addition, the impact of the invasion by Russia into Ukraine and the conflict between Israel and Hamas, as well as actions taken by other countries, including the U.S., in response to such conflicts, could result in a disruption in our supply chain and higher costs of our products. The words “may,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “target,” “goal,” and similar expressions are intended to identify forward-looking statements.
For information concerning these factors and related matters, see the following sections of the Company’s Annual Report on Form 10-K for the year ended September 30, 2023: (a) Part I, Item 1A, “Risk Factors” and (b) Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations”. However, other factors besides those referenced could adversely affect the Company’s results, and you should not consider any such list of factors to be a complete set of all potential risks or uncertainties. Any forward-looking statements made by the Company herein speak as of the date of this press release. The Company does not undertake to update any forward-looking statements, except as required by law.
Unless the context otherwise indicates, all references in this press release to the “Company,” “Gencor,” “we,” “us,” or “our,” or similar words are to Gencor Industries, Inc. and its subsidiaries.
Contact: Eric Mellen, Chief Financial Officer
407-290-6000
FAQ
What caused Gencor Industries (GENC) to receive NYSE's delinquency notification in January 2025?
How long does Gencor (GENC) have to file its delayed Form 10-K?
Will Gencor's (GENC) stock continue trading on NYSE American despite the delinquency notice?
What are the potential consequences if Gencor (GENC) fails to file its Form 10-K within the given timeframe?
