FlexShopper Receives Notification of Deficiency from Nasdaq Related to Delayed Filing of Quarterly Report on Form 10-Q
FlexShopper (Nasdaq: FPAY) has received a deficiency notification from Nasdaq on August 21, 2025, due to failing to file its Q2 2025 Form 10-Q on time. The company is already operating under a previous exception granted by Nasdaq until October 13, 2025 to file its delinquent 2024 Form 10-K and Q1 2025 Form 10-Q.
The company must submit an updated compliance plan to address all delinquent filings. FlexShopper attributes the delay to needing additional time to complete accounting and internal control processes. The maximum extension period for compliance is limited to 180 calendar days from the initial delinquent filing's due date.
FlexShopper (Nasdaq: FPAY) ha ricevuto una comunicazione di inadempienza da Nasdaq il 21 agosto 2025 per non aver presentato in tempo il Modello 10-Q relativo al 2掳 trimestre 2025. La societ脿 猫 gi脿 soggetta a un precedente deroga concessa da Nasdaq fino al 13 ottobre 2025 per depositare il ritardato Modello 10-K 2024 e il Modello 10-Q del 1掳 trimestre 2025.
Deve presentare un piano di conformit脿 aggiornato che affronti tutte le dichiarazioni in ritardo. FlexShopper attribuisce il ritardo alla necessit脿 di ulteriore tempo per completare i processi contabili e i controlli interni. Il periodo massimo di proroga per la conformit脿 猫 limitato a 180 giorni di calendario dalla scadenza originale della presentazione in ritardo.
FlexShopper (Nasdaq: FPAY) recibi贸 una notificaci贸n de incumplimiento de Nasdaq el 21 de agosto de 2025 por no presentar a tiempo su Formulario 10-Q del 2T de 2025. La compa帽铆a ya opera bajo una excepci贸n previa otorgada por Nasdaq hasta el 13 de octubre de 2025 para presentar su 10-K 2024 y el 10-Q del 1T de 2025 pendientes.
Debe enviar un plan de cumplimiento actualizado que aborde todas las presentaciones atrasadas. FlexShopper atribuye el retraso a la necesidad de m谩s tiempo para completar procesos contables y de control interno. El periodo m谩ximo de pr贸rroga para cumplir est谩 limitado a 180 d铆as naturales desde la fecha de vencimiento original de la presentaci贸n retrasada.
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須岇偓電� 氇摖 歆�鞐� 鞝滌稖鞚� 頃搓舶頃橁赴 鞙勴暅 鞐呺嵃鞚错姼霅� 欷�靾� 瓿勴殟鞚� 鞝滌稖頃挫暭 頃╇媹雼�. FlexShopper電� 歆�鞐� 鞗愳澑鞚� 須岅硠 觳橂Μ 氚� 雮措秬 韱奠牅 鞝堨皑毳� 鞕勲頃橂姅 雿� 於旉皜 鞁滉皠鞚� 頃勳殧頄堦赴 霑岆鞚措澕瓿� 靹る獏頃╇媹雼�. 欷�靾橂ゼ 鞙勴暅 斓滊寑 鞐办灔 旮瓣皠鞚� 歆�鞐� 鞝滌稖鞚� 鞗愲灅 旮绊暅鞙茧攵�韯� 180鞚�(旌橂Π雿� 旮办)搿� 鞝滍暅霅╇媹雼�.
FlexShopper (Nasdaq聽: FPAY) a re莽u une notification de non-conformit茅 de la part du Nasdaq le 21 ao没t 2025 pour ne pas avoir d茅pos茅 dans les d茅lais son Formulaire 10-Q du T2 2025. La soci茅t茅 b茅n茅ficie d茅j脿 d'une d茅rogation ant茅rieure accord茅e par le Nasdaq jusqu'au 13 octobre 2025 pour d茅poser son 10-K 2024 et son 10-Q du T1 2025 en retard.
Elle doit soumettre un plan de conformit茅 actualis茅 pour traiter l'ensemble des d茅p么ts en retard. FlexShopper attribue le retard au besoin de temps suppl茅mentaire pour finaliser les processus comptables et les contr么les internes. La p茅riode maximale de prolongation pour la conformit茅 est limit茅e 脿 180 jours calendaires 脿 partir de la date d'茅ch茅ance initiale du d茅p么t en retard.
FlexShopper (Nasdaq: FPAY) hat am 21. August 2025 von der Nasdaq eine M盲ngelmitteilung erhalten, weil das Formular 10-Q f眉r Q2 2025 nicht fristgerecht eingereicht wurde. Das Unternehmen befindet sich bereits unter einer zuvor von der Nasdaq gew盲hrten Ausnahme bis zum 13. Oktober 2025, um den 眉berf盲lligen 10-K f眉r 2024 und den 10-Q f眉r Q1 2025 einzureichen.
Es muss einen aktualisierten Compliance-Plan vorlegen, der alle 眉berf盲lligen Einreichungen abdeckt. FlexShopper f眉hrt die Verz枚gerung darauf zur眉ck, dass mehr Zeit zur Vervollst盲ndigung der Buchhaltungs- und internen Kontrollprozesse ben枚tigt wurde. Der maximale Verl盲ngerungszeitraum f眉r die Einhaltung ist auf 180 Kalendertage ab dem urspr眉nglichen F盲lligkeitstermin der versp盲teten Einreichung begrenzt.
- None.
- Company failed to file Q2 2025 Form 10-Q on time
- Already delinquent on 2024 Form 10-K and Q1 2025 Form 10-Q filings
- Risk of potential Nasdaq delisting if compliance not achieved by October 13, 2025
- Ongoing issues with accounting and internal control processes
Insights
FlexShopper faces potential Nasdaq delisting after missing multiple SEC filings, signaling serious regulatory compliance issues.
FlexShopper's notification of a third consecutive missed SEC filing represents a significant regulatory compliance concern. The company has now failed to file its 2024 annual report, Q1 2025 quarterly report, and Q2 2025 quarterly report, triggering Nasdaq Listing Rule 5250(c)(1) violations. This pattern of delinquencies suggests potential deeper issues with the company's financial reporting infrastructure.
The Nasdaq has given FlexShopper until October 13, 2025 - representing the maximum 180-day exception period - to resolve all delinquent filings. This deadline is particularly concerning as it encompasses multiple missing reports, not just a single delayed filing. The company must now submit an updated compliance plan to Nasdaq, indicating the situation has escalated beyond routine regulatory matters.
FlexShopper's explanation that the delay relates to completing "customary accounting and internal control processes" raises red flags about potential financial reporting or internal control weaknesses. The vague wording and lack of specific timeline for resolution compounds uncertainty. The company's explicit statement that it "can provide no assurance as to their timing" further signals that this is not merely a procedural delay but potentially a more substantive issue that could impact investor confidence and the company's public listing status.
BOCA RATON, Fla., Aug. 27, 2025 (GLOBE NEWSWIRE) -- FlexShopper, Inc. (Nasdaq: FPAY) today announced that it received a deficiency notification letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC on August 21, 2025 (the 鈥淣otice鈥�). The Notice indicated that FlexShopper does not comply with Nasdaq Listing Rule 5250(c)(1) (the 鈥淟isting Rule鈥�) for continued listing of its common stock as a result of its failure to timely file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 (the 鈥淨2 2025 Form 10-Q鈥�), as described more fully in FlexShopper鈥檚 Form 12b-25 Notification of Late Filing (the 鈥淔orm 12b-25鈥�) filed with the Securities and Exchange Commission on August 15, 2025. The Listing Rule requires Nasdaq-listed companies to timely file all required periodic reports with the SEC.
Previously, the Nasdaq Listing Qualifications Staff granted FlexShopper an exception until October 13, 2025 to file its delinquent Form 10-K for the year ended December 31, 2024 (the 鈥�2024 Form 10-K鈥�) and its Form 10-Q for the quarter ended March 31, 2025 (the 鈥淨1 2025 Form 10-Q鈥�). As a result, any additional Nasdaq exception to allow FlexShopper to regain compliance with all delinquent filings will be limited to a maximum of 180 calendar days from the due date of the Initial Delinquent Filing, or October 13, 2025. With this additional delinquency, FlexShopper must submit an update to its original plan to regain compliance with respect to the filing requirement.
As previously disclosed, the filing of the Q2 2025 Form 10-Q was delayed due to the matters described in the Form 12b-25, including allowing FlexShopper sufficient time to complete its customary accounting and internal control processes and procedures. While FlexShopper can provide no assurance as to their timing, it will continue to work diligently to complete and file the 2024 Form 10-K, the Q1 2025 Form 10-Q and the Q2 2025 Form 10-Q as soon as practicable.
About FlexShopper, Inc.
FlexShopper Inc. (Nasdaq: FPAY) is a financial technology company specializing in lease-to-own (LTO) and lending solutions for underserved consumers across the U.S. FlexShopper provides flexible payment options through its direct marketplace at FlexShopper.com and partners with retailers across online and physical store locations.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based upon current expectations or beliefs, as well as assumptions about future events. Forward-looking statements include all statements that are not historical facts and can generally be identified by terms such as 鈥渃ould,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渋ntend,鈥� 鈥渕ay,鈥� 鈥減lan,鈥� 鈥減otentially,鈥� or 鈥渨ill鈥� or similar expressions and the negatives of those terms. These statements include, but are not limited to, statements relating to FlexShopper鈥檚 plans and expectations about the completion and filing of the periodic reports, its submission of a plan to regain compliance with respect to the Listing Rule, and the timing thereof. Actual results could differ materially from those expressed in or implied by the forward-looking statements due to a number of risks and uncertainties, including but not limited to, uncertainties about the timing of FlexShopper鈥檚 submission of a compliance plan, Nasdaq鈥檚 acceptance of any such plan, the duration of any extension that may be granted by Nasdaq, the potential inability to meet Nasdaq鈥檚 requirements, FlexShopper鈥檚 preparation of the periodic reports and the related financial statements, the possibility of additional delays in the filing of the periodic reports, and the other risks and uncertainties described in FlexShopper鈥檚聽SEC聽reports and under the heading 鈥淩isk Factors鈥� in its most recent annual report on Form 10-K and quarterly reports on Form 10-Q, which are available at聽. These forward-looking statements speak only as of the date of this press release. Except as required by law, FlexShopper does not undertake any obligation to update or revise its forward-looking statements to reflect events or circumstances after the date of this press release.
Company Contact
FlexShopper, Inc.
Investor Relations
Investor and Media Contact
Andrew Berger
Managing Director
SM Berger & Company, Inc.
Tel (216) 464-6400
Source: FlexShopper, Inc.
FAQ
What is the deadline for FlexShopper (FPAY) to file its delinquent financial reports?
Why did FlexShopper (FPAY) delay filing its Q2 2025 Form 10-Q?
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