NextTrip, Inc Receives Nasdaq Notification Regarding Late 10K Filing and Continued Listing Requirements
NextTrip, a travel technology company, has received a notification from Nasdaq indicating non-compliance with Nasdaq Listing Rule 5250(c)(1) due to the delayed filing of its annual report on Form 10-K for the fiscal year ending February 29, 2024. The company now has 60 days to submit a compliance plan to Nasdaq. If accepted, NextTrip may have until December 10, 2024, to meet the filing requirements. Further details are available in the company's Form 8-K filed with the SEC.
- None.
- NextTrip is out of compliance with Nasdaq Listing Rule 5250(c)(1) due to delayed filing of Form 10-K.
- Failure to meet the compliance plan could lead to delisting from Nasdaq.
- Potential impact on investor confidence and stock price due to the compliance issue.
SUNRISE, FL / ACCESSWIRE / June 21, 2024 / NextTrip, Inc. (NASDAQ:NTRP) ("NextTrip", "we," "our," or the "Company"), a travel technology company, has received a notice (the "Notice") from the listing qualifications department of the Nasdaq Stock Market LLC ("Nasdaq") indicating that, as a result of the delinquency in the timely filing of the Company's annual report on Form 10-K for the fiscal year ended February 29, 2024 (the "10-K"), the Company is out of compliance with Nasdaq Listing Rule 5250(c)(1) (the "Listing Rule"), which requires listed companies to timely file all required periodic reports with the Securities and Exchange Commission (the "SEC").
In accordance with Nasdaq's listing rules, the Company has 60 calendar days after the date of the Notice to submit a plan to regain compliance with respect to the delinquent 10-K filing. If the plan is accepted by Nasdaq, the Company will have an exception of up to 180 calendar days from the due date of the 10-K, or until December 10, 2024, to regain compliance.
For additional information regarding the Nasdaq notifications and related terms, please see the current report Form 8-K the company filed with the SEC today, which is available at sec.gov.
About NextTrip
NextTrip (NASDAQ:NTRP) is a technology-driven platform delivering innovative travel booking and travel media solutions. NextTrip Leisure provides individual and group travelers with vacations to the most popular and sought-after destinations in Mexico, the Caribbean and across the world. NextTrip Media platform - Travel Magazine offers a social media platform for viewers to explore, educate and share with friends their "bucket list" travel. Additionally, NextTrip is launching an end-to-end content ecosystem that uses AI assisted travel planning to capture advertising, building brand awareness, rewarding loyalty and driving bookings. For more information and to book a trip, visit www.nexttrip.com.
Forward-Looking Statements
This press release 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 (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words "believe," "anticipate," "estimate," "expect," "intend," "plan," "project," "prospects," "outlook," and similar words or expressions, or future or conditional verbs such as "will," "should," "would," "may," and "could" are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors, including continuing risks relating to the recent acquisition of NextTrip. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are risks relating to, among other things, our need for additional capital which may not be available on commercially acceptable terms, if at all, which raises questions about our ability to continue as a going concern; our ability to file the 10-K within the period provided by Nasdaq to do so, and/or timely submit an acceptable plan to regain compliance with the Nasdaq continued listing rules within the periods provided by Nasdaq; our ability to timely file our subsequent periodic reports with the SEC; our ability to maintain the listing of our common stock on the Nasdaq Capital Market; post-closing matters related to our acquisition of NextTrip Holdings, Inc.; changes in domestic and foreign business, market, financial, political and legal conditions; unanticipated conditions that could adversely affect the combined company or the expected benefits of the acquisition; and disruption and volatility in the global currency, capital, and credit markets. NextTrip disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise, except as required by applicable law. For additional information regarding risks and uncertainties that could impact NextTrip's forward-looking statements, please see disclosures contained in the Definitive Proxy Statement filed with the SEC on December 1, 2023, the S-1 Registration Statement filed with the SEC on April 8, 2024 and our other filings with the SEC which may be viewed at www.sec.gov.
Investor Contact
Chris Tyson
Executive Vice President
MZ Group - MZ North America
949-491-8235
NTRP@mzgroup.us
www.mzgroup.us
SOURCE: NextTrip, Inc.
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