Business Context and Reporting Period
Company: Coffee Holding Co., Inc. (JVA)
Filing Type: Form 8-K (Current Report)
Date of Report: February 2, 2023 (Event Date)
Reporting Period Context: The filing addresses the Company's failure to file its Annual Report on Form 10-K for the fiscal year ended October 31, 2022.
Key Financial Metrics
This filing is a current report regarding regulatory compliance and does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The filing text does not provide a clear value for any financial metric.
Material Changes
- Delisting Notice: On February 2, 2023, the Company received a notice from Nasdaq stating it is not in compliance with Listing Rule 5250(c)(1) due to the failure to file the Annual Report for the period ended October 31, 2022.
- Trading Status: The notice has no immediate effect on the listing or trading of the Company's common stock on the Nasdaq Capital Market.
Guidance, Outlook, and Risks
Management Commentary and Plan:
- The Company has 60 calendar days (until April 3, 2023) to submit a plan to regain compliance.
- If Nasdaq accepts the plan, the Company may be granted up to 180 calendar days from the original due date (until July 31, 2023) to file the Annual Report.
- Management states it is working diligently to finalize the Annual Report and plans to file it as promptly as possible.
Risks and Contingencies:
- Reporting Delays: Risk of material delay in filing the Annual Report.
- Auditor Review: Uncertainty regarding the independent auditor's ability to finalize the review of consolidated financial statements in a timely manner.
- Compliance Failure: Risk of inability to respond satisfactorily to Nasdaq inquiries or regain compliance with the Listing Rule.
Investor Verification Checklist
- Verify the current status of the Annual Report (Form 10-K) for the fiscal year ended October 31, 2022.
- Monitor the Company's submission of a compliance plan to Nasdaq by the April 3, 2023 deadline.
- Confirm whether the Company has received an extension from Nasdaq to file the Annual Report by July 31, 2023.
- Review subsequent filings for updates on the independent auditor's review status.