UPEXI, INC. Faces Delisting Concerns

TL;DR

UPEXI might get kicked off the exchange, big trouble ahead.

AI Summary

UPEXI, INC. filed an 8-K on October 23, 2024, reporting a notice of delisting or failure to satisfy continued listing rules. The filing also includes other events and financial statements/exhibits. The company was formerly known as GROVE, INC. and changed its name on April 29, 2019.

Why It Matters

This filing indicates potential issues with UPEXI, INC.'s ability to remain listed on an exchange, which could significantly impact its stock value and liquidity.

Risk Assessment

Risk Level: high — The filing explicitly mentions a notice of delisting or failure to satisfy continued listing rules, indicating significant operational or financial distress.

Key Players & Entities

• UPEXI, INC. (company) — Registrant
• GROVE, INC. (company) — Former company name
• October 21, 2024 (date) — Earliest event reported date
• October 23, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 UPXI NASDAQ Indicate by check mar

Filing Documents

• upxi_8k.htm (8-K) — 26KB
• upxi_ex991.htm (EX-99.1) — 7KB
• upxi_ex991img1.gif (GRAPHIC) — 4KB
• 0001477932-24-006646.txt ( ) — 168KB
• upxi-20241021.xsd (EX-101.SCH) — 6KB
• upxi-20241021_lab.xml (EX-101.LAB) — 15KB
• upxi-20241021_cal.xml (EX-101.CAL) — 1KB
• upxi-20241021_pre.xml (EX-101.PRE) — 9KB
• upxi-20241021_def.xml (EX-101.DEF) — 2KB
• upxi_8k_htm.xml (XML) — 4KB

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 October 21, 2024, Upexi, Inc. (the " Company ") received a notice (the " Notice ") from The Nasdaq Stock Market LLC (" Nasdaq ") indicating that, as a result of not having timely filed the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2024, the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic financing reports with the SEC. Pursuant to the Nasdaq Listing Rules, the Company has 60 calendar days to submit a plan to regain compliance. If the plan is accepted, an extension may be granted of up to 180 calendar days from the Filing's due date, to regain compliance. The Notice has no immediate effect on the listing or trading of the Company's common stock. The Company intends to file the Annual Report on or before November 1, 2024.

01 Other Events

Item 8.01 Other Events. On October 23, 2024, the Company issued a press release announcing receipt of the Notice from Nasdaq, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference herein. The information in Item 8.01, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference in any of the Company's filings under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference to this Report in such filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits 99.1 Press Release dated October 23, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL Document)

Forward-Looking Statements

Forward-Looking Statements Certain statements and information included in this current report constitute "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. When used in this current report, the words or phrases "will", "will likely result," "expected to," "will continue," "anticipated," "estimate," "projected," "intend," "goal," or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, many of which are beyond the control of the Company. Such uncertainties and risks include, but are not limited to, our ability to successfully execute our growth strategy, changes in laws or regulations, economic conditions, dependence on management, dilution to stockholders, lack of capital, the effects of rapid growth upon the Company and the ability of management to effectively respond to the growth and demand for products and services of the Company, newly developing technologies, the Company's ability to compete, conflicts of interest in related party transactions, regulatory matters, protection of technology, lack of industry standards, the effects of competition and the ability of the Company to obtain future financing. An extensive list of factors that can affect future results are discussed in the Company's Annual Report on form 10-K for the year ended June 30, 2023 and its Quarterly Reports on Form 10-Q for the periods ended September 30, 2023, December 31, 2023, and March 31, 2024 under the heading "Risk Factors" in Item IA thereof, and other documents filed from time to time with the Securities and Exchange Commission. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this current repo

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. UPEXI, INC. Dated: October 23, 2024 /s/ Andrew J. Norstrud Name: Andrew J. Norstrud Title: Chief Financial Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR