PHOENIX, AZ - Alpine 4 Holdings, Inc (NASDAQ:ALPP), a diversified holding company, has received a Staff Delisting Determination from the Nasdaq Stock Market due to non-compliance with filing requirements. The notice, received on Monday, indicates the initiation of delisting proceedings for the company's securities because of failure to file required periodic financial reports.
The company has not submitted its Quarterly Report for the period ending September 30, 2023, nor its Annual Report for the fiscal year ending December 31, 2023. Alpine 4 was previously granted an extension until May 13, 2024, to regain compliance but has yet to meet this obligation.
Despite the Staff Determination, there is no immediate impact on the trading of Alpine 4's securities. The company intends to appeal the decision before a Nasdaq Hearing Panel and is seeking a stay of suspension or delisting while the appeal process is underway. The appeal must be filed by 4:00 p.m. EDT on May 21, 2024, which will automatically stay the suspension for 15 days from the request date.
Hearings are typically scheduled within 30-45 days after a company's hearing request, and the Hearings Panel will subsequently issue a decision. Alpine 4 may further appeal to the Nasdaq Listing Council if necessary.
Alpine 4 is working with its auditors to complete and file the delinquent reports as soon as possible to regain compliance. However, there is no guarantee that the company will file the reports before the hearing or that the panel will grant a stay.
Alpine 4 Holdings operates under a business model that includes acquiring companies in various sectors such as Aerospace, Commercial Technologies, 3D Mapping Software, and Manufacturing. The company aims to integrate these subsidiaries to foster innovation and drive shareholder value.
The information provided is based on a press release statement, and there is no immediate effect on Alpine 4's listing status as the company prepares for its appeal.
InvestingPro Insights
As Alpine 4 Holdings, Inc (NASDAQ:ALPP) faces delisting concerns, investors are closely monitoring the company's financial health and stock performance. According to InvestingPro data, Alpine 4 has a market capitalization of $21.13 million USD, which reflects its size within the market. The company's Price / Book multiple, as of the last twelve months leading into Q2 2023, stands at a low 0.35, indicating that the stock may be undervalued relative to the company's net asset value. This could be of interest to value investors looking for potential bargains.
The company's revenue growth over the same period has been substantial, at 32.66%, suggesting that despite the current delisting situation, Alpine 4 has been expanding its top-line figures. However, this growth has not translated into profitability, with a negative P/E ratio of -0.94 indicating that the company has been incurring losses. This is further corroborated by the InvestingPro Tip that the company is quickly burning through cash, which may raise concerns about its financial sustainability in the short term.
Investors should note that Alpine 4 has experienced significant price volatility, as highlighted by an InvestingPro Tip, with a 23.45% return over the last three months, yet a -63.25% return over the past year. This volatility could represent both risk and opportunity, depending on an investor's risk appetite and investment horizon.
For those seeking a deeper analysis, InvestingPro offers additional insights into Alpine 4's financials, including tips on its significant debt burden and weak gross profit margins, among others. There are 10 more InvestingPro Tips available for Alpine 4, which can be accessed on the InvestingPro platform. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and explore these insights to make more informed investment decisions.
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