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TAIPEI - Nocera, Inc. (NASDAQ:NCRA), a company focused on acquiring diverse businesses, announced it has returned to compliance with Nasdaq’s listing rules. The firm rectified a filing delay of its annual report, which initially triggered a non-compliance notice from the stock exchange. The company’s stock, currently trading at $0.91, has shown resilience with a 19% gain year-to-date, according to InvestingPro data.
On April 24, Nocera was informed by Nasdaq that it failed to meet the filing deadline for its Form 10-K, the annual report for the fiscal year ending December 31, 2024. Subsequently, on May 6, the company filed the required document with the Securities and Exchange Commission. Nasdaq has reviewed the submission and confirmed on Thursday that Nocera has resolved the issue, closing the matter. InvestingPro analysis shows the company maintains a positive aspect with more cash than debt on its balance sheet, though it faces challenges with weak gross profit margins of less than 1%.
Nocera’s business model involves identifying and acquiring companies with strong fundamentals and growth potential, regardless of industry. The company’s strategy is to partner with businesses that are in line with its vision and to foster long-term value creation.
The press release also contained forward-looking statements, cautioning that such statements involve risks and uncertainties. The company highlighted that future results could differ from current expectations due to various factors, including market conditions, competition, and other external influences.
This announcement is based on a press release statement and provides no endorsement of Nocera’s claims or future performance. Investors are advised to consider the inherent risks and uncertainties that may affect the company’s operations and financial results.
In other recent news, Nocera, Inc. has faced a compliance issue with the Nasdaq Stock Market due to a delayed annual report filing. The company has not submitted its Form 10-K for the year ending December 31, 2024, which has prompted Nasdaq to notify Nocera of non-compliance with its listing rules. Nocera has been given a 60-day period to present a plan to regain compliance, potentially extending the deadline to October 13, 2025, if approved. The delay is attributed to audit complexities, including the need to provide comprehensive responses and documentation to finalize the audit process. Moreover, Nocera is restating financial statements for three quarters of 2024 due to material errors related to the misaccounting of warrant liabilities. These restatements have resulted in an overstatement of the warrant liability by about 70% and have significantly impacted the reported net loss for 2024. The company is addressing a material weakness in its internal controls over financial reporting, which has raised questions about the effectiveness of its disclosure controls and procedures for the affected quarters. Nocera is working diligently with its auditors to finalize the audit and file the Form 10-K as soon as practicable.
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