Business Context and Reporting Period
Company: Coffee Holding Co., Inc. (JVA)
Filing Type: Form 8-K (Current Report)
Date of Report: March 21, 2023 (Event Date)
Reporting Period: The filing addresses delinquencies regarding the Annual Report for the year ended October 31, 2022, and the Quarterly Report for the period ended January 31, 2023.
Key Financial Metrics
This filing is a notice of regulatory non-compliance and does not contain financial performance data. The text does not provide values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
The material change reported is the receipt of a notice from the Nasdaq Listing Qualifications Department stating the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1). This non-compliance is due to the failure to file the Form 10-K for the fiscal year ended October 31, 2022, and the Form 10-Q for the quarter ended January 31, 2023.
Outlook, Risks, and Management Commentary
- Compliance Plan: The Company has until April 3, 2023, to submit a plan to regain compliance. If accepted, Nasdaq may grant up to 180 days from the original due date (until July 31, 2023) to file the delinquent reports.
- Management Expectations: Management currently expects to file the Annual Report on or before March 31, 2023, and is working to finalize the Quarterly Report promptly.
- Immediate Impact: The notice has no immediate effect on the listing or trading of the Company's common stock on the Nasdaq Capital Market.
- Risks: Forward-looking statements highlight risks including material delays in financial reporting, the independent auditor's ability to finalize reviews, and the potential inability to file reports within the prescribed timeframes, which could lead to delisting.
Investor Verification Checklist
- Verify the actual filing date of the Form 10-K for the fiscal year ended October 31, 2022, against the March 31, 2023 target.
- Monitor the submission of the compliance plan to Nasdaq by the April 3, 2023 deadline.
- Confirm the status of the Form 10-Q for the period ended January 31, 2023.
- Review any subsequent communications regarding the acceptance of the compliance plan by Nasdaq.