Business Context and Reporting Period
This Form 8-K is a current report filed by Universal Safety Products, Inc. (formerly Universal Security Instruments, Inc.) on July 16, 2025. The filing addresses a regulatory compliance issue with the NYSE American LLC and confirms the completion of a corporate name change approved by shareholders in April 2025 and filed with the State of Maryland on May 28, 2025.
Key Financial Metrics
The filing text does not provide specific financial data such as revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on regulatory status and corporate governance events.
Material Changes
- Listing Compliance Status: The Company received a "Delinquency Notification" from NYSE Regulation on July 16, 2025, stating it is not in compliance with continued listing standards due to the failure to timely file its Annual Report on Form 10-K for the year ended March 31, 2025.
- Corporate Name Change: The Company officially changed its name from "Universal Security Instruments, Inc." to "Universal Safety Products, Inc." following shareholder approval and state filing.
Guidance, Outlook, and Risks
Compliance Timeline: The Company has been granted a six-month period from the original Form 10-K due date (July 15, 2025) to regain compliance by filing the delinquent report. The Exchange may grant an additional six-month extension at its sole discretion if the Company fails to file within the initial period.
Risks and Contingencies:
- There is no assurance the Form 10-K will be filed within the six-month window.
- The Exchange reserves the right to commence suspension and delisting proceedings at any time if circumstances warrant, despite the grace period.
- The receipt of the Delinquency Notification has no immediate effect on the listing or trading of the Company's common stock.
Investor Verification Checklist
- Verify the current status of the Form 10-K for the fiscal year ended March 31, 2025, to confirm if it has been filed.
- Monitor NYSE American communications for any updates regarding the six-month compliance deadline or potential delisting proceedings.
- Confirm the ticker symbol and trading status of the common stock (UUU) on NYSE American LLC following the name change.
- Review the upcoming press release dated July 21, 2025 (Exhibit 99.1) for additional management commentary on the delinquency.