UNICO AMERICAN CORP - UNAM STOCK NEWS

Unico American Corporation (NASDAQ: UNAM) issued a corrected press release regarding its Quarterly Report on Form 10-Q, which was not filed by the due date of May 16, 2022. The company received a notice from Nasdaq indicating non-compliance with periodic filing requirements. Unico has until June 6, 2022, to submit a plan to regain compliance, with the possibility of a 180-day extension. If compliance is not achieved, the company could face delisting. The notice does not currently affect trading but highlights significant compliance risks.

Unico American Corporation (NASDAQ:UNAM) announced on April 6, 2022, that it received a notice from Nasdaq concerning non-compliance with its periodic filing requirements due to the delayed submission of its Annual Report on Form 10-K for the fiscal year ending December 31, 2021. The Company has 60 days to propose a plan for regaining compliance; failure to do so might lead to delisting. The notice does not impact the current trading of Unico shares, but future compliance is uncertain. Unico's primary operations have been placed into runoff, ceasing new business and winding down.

Unico American Corporation (NASDAQ:UNAM) announced on November 23, 2021, that it received a notice from Nasdaq for failing to file its Form 10-Q for the period ending September 30, 2021, by the due date of November 15, 2021. This non-compliance with Nasdaq Listing Rule 5250(c)(1) requires the Company to submit a compliance plan within 60 days. If accepted, Unico may be granted up to 180 days to regain compliance. Failure to comply may lead to delisting. The notice does not immediately affect trading of its shares.

Unico American Corporation (NASDAQ: UNAM) announced on September 7, 2021, that its Board of Directors has authorized a review of strategic alternatives to enhance shareholder value. To assist in this process, TigerRisk Capital Markets & Advisory has been engaged as the exclusive financial advisor. The company has not committed to any transactions and does not plan to provide further updates until a definitive agreement is reached. Unico operates primarily through its subsidiary, Crusader Insurance Company, providing various insurance services.

Unico American Corporation (NASDAQ: UNAM) reported its financial results for Q2 and H1 2021. For Q2, the company faced a net loss of $1.41 million ($0.27 per share), compared to a loss of $434,814 in Q2 2020. However, H1 2021 showed a net income of $860,893 ($0.16 per share) compared to a $1.48 million loss in H1 2020. Gross written premiums surged by 32% to $11.57 million in Q2, fueled by growth in the Transportation vertical. Concerns over liquidity persist, with significant capital needs and doubts about the company's ability to continue operations without strategic changes.

Unico American Corporation (NASDAQ:UNAM) reported a net income of $2,267,703 ($0.43 per share) for Q1 2021, reversing a net loss of $1,043,826 from Q1 2020. Gross written premiums increased 14% to $10,482,545, primarily driven by growth in the Transportation vertical. Significant gains of $3,693,858 were realized from the sale of the corporate headquarters. However, operational challenges included an 8% decline in commissions and an increase in expenses related to fire losses, impacting underwriting outcomes.

Unico American Corporation (NASDAQ:UNAM) reported its financial results for Q4 and the full year of 2020. The company experienced a net loss of $2.1 million ($0.39 per share) for Q4, a slight improvement from the previous year's loss of $2.4 million. For the full year, the net loss increased to $21.5 million ($4.05 per share) compared to $3.1 million in 2019. Despite a 7% growth in gross written premiums to $9 million in Q4, net investment income fell by 3%. The company’s book value per share decreased from $10.38 in 2019 to $6.60 by year-end 2020.