NextTrip, Inc. Faces Delisting Concerns

TL;DR

NextTrip's in danger of getting delisted, stock might be toast.

AI Summary

NextTrip, Inc. filed an 8-K on June 21, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule. The filing indicates potential issues with the company's continued listing on the exchange, although specific details regarding the rule or standard not met are not provided in this excerpt. The report also includes Regulation FD disclosures and financial statements.

Why It Matters

This filing signals potential financial distress or non-compliance for NextTrip, Inc., which could lead to its stock being removed from major exchanges, impacting investor confidence and liquidity.

Risk Assessment

Risk Level: high — A notice of delisting directly threatens the company's ability to trade on a public exchange, posing a significant risk to its operations and investors.

Key Players & Entities

• NextTrip, Inc. (company) — Registrant
• SIGMA ADDITIVE SOLUTIONS, INC. (company) — Former Company Name
• SIGMA LABS, INC. (company) — Former Company Name
• FRAMEWAVES INC (company) — Former Company Name

FAQ

Key Financial Figures

• $0.001 — ch registered Common stock, par value $0.001 per share NTRP The Nasdaq Stock Mar

Filing Documents

• form8-k.htm (8-K) — 42KB
• ex99-1.htm (EX-99.1) — 10KB
• ex99-1_001.jpg (GRAPHIC) — 2KB
• 0001493152-24-024774.txt ( ) — 229KB
• ntrp-20240617.xsd (EX-101.SCH) — 3KB
• ntrp-20240617_lab.xml (EX-101.LAB) — 33KB
• ntrp-20240617_pre.xml (EX-101.PRE) — 22KB
• form8-k_htm.xml (XML) — 3KB

01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing On June 17, 2024, NextTrip, Inc. (the "Company") received a notification letter (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") advising the Company that it was not in compliance with Nasdaq's continued listing requirements under Nasdaq Listing Rule 5250(c)(1) (the "Rule") as a result of its failure to timely file its Annual Report on Form 10-K for the fiscal year ended February 29, 2024 (the "Form 10-K"). The Notice has no immediate effect on the listing of the Company's common stock on the Nasdaq Capital Market, and, therefore, the Company's listing remains fully effective. Pursuant to the Rule, the Company has 60 calendar days from receipt of the Notice, or until August 16, 2024, to submit a plan to regain compliance with the Rule. If Nasdaq accepts the Company's plan, then Nasdaq may grant an exception of up to 180 calendar days from the due date of the Form 10-K, or until December 10, 2024, to regain compliance. The Company intends to file the Form 10-K as promptly as possible in order to regain compliance with the Rule. However, if the Company does not submit the Form 10-K by August 16, 2024, the Company will submit a plan by such date to Nasdaq that outlines, as definitively as possible, the steps the Company will take to promptly file the Form 10-K and regain compliance. If the Company does not regain compliance within the allotted compliance period, including any exception period that may be granted by Nasdaq after submission of a plan to regain compliance, if applicable, Nasdaq will provide notice that the Company's common stock will be subject to delisting. The Company would then be entitled to appeal that determination to a Nasdaq hearings panel. There can be no assurance that the Company will regain compliance with the Rule, secure an exception of 180 calendar days from the Form 10-K's

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: June 21, 2024 NEXTTRIP, INC. By: /s/ William Kerby William Kerby Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR