Notification That Quarterly Report Will Be Submitted Late (nt 10-q)
May 15 2023 - 4:01PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
12b-25
NOTIFICATION
OF LATE FILING
(Check
One): ☐ Form 10-K ☐ Form 20-F ☐ Form 11-K ☒ Form 10-Q ☐ Form 10-D ☐ Form N-CEN ☐ Form N-CSR
For
Period Ended: March 31, 2023
☐
Transition Report on Form 10-K
☐
Transition Report on Form 20-F
☐
Transition Report on Form 11-K
☐
Transition Report on Form 10-Q
For
the Transition Period Ended: __________________________________________
Nothing
in this form shall be construed to imply that the Commission has verified any information contained herein.
PART
I - REGISTRANT INFORMATION
Logiq,
Inc.
Full
Name of Registrant:
Weyland
Tech, Inc.
Former
Name if Applicable:
85
Broad Street, 16-079
Address
of Principal Executive Office (Street and Number)
New
York, New York 10004
City,
State and Zip Code
PART
II - RULES 12b-25(b) AND (c)
If
the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b),
the following should be completed. (Check box if appropriate)
|
(a) |
The
reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense; |
|
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☒ |
(b) |
The subject annual report,
semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR, or portion thereof, will be filed
on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on
Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following
the prescribed due date; and |
|
|
|
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(c) |
The accountant’s
statement or other exhibit required by Rule 12b-25(c) has been attached if applicable. |
PART
III - NARRATIVE
State
below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof,
could not be filed within the prescribed time period.
Logiq,
Inc., a Delaware corporation (the “Company”), is unable to file its Quarterly Report on Form 10-Q for the period ended March
31, 2023 (the “Quarterly Report”) within the prescribed time period without unreasonable effort or expense. The Company requires
additional time to account for recent developments in the Company’s business and operations, including, without limitation, reductions
in force and matters related to certain strategic transactions, as previously disclosed in those Current Reports on Form 8-K filed by
the Company with the U.S. Securities and Exchange Commission (the “Commission”) on September 12, 2022, April 26, 2023 and
May 1, 2023. As a result of the Company’s limited personnel and financial resources, the Company requires additional time to finalize
certain disclosures in its Quarterly Report, as well as its financial statements to be filed as part of the Quarterly Report.
For
the foregoing reasons, the Company requires additional time to complete the procedures relating to its quarter-end reporting process,
including the completion of the Company’s financial statements, and therefore, the Company is unable to file the Quarterly Report
by May 15, 2023, the prescribed filing due date for the Quarterly Report. The Company expects to file the Quarterly Report within the
extension period provided under Rule 12b-25 under the Securities Exchange Act of 1934, as amended.
PART
IV - OTHER INFORMATION
|
(1) |
Name and telephone number of person
to contact in regard to this notification |
Brent
Y. Suen |
|
808 |
|
829-1057 |
(Name) |
|
(Area Code) |
|
(Telephone Number) |
|
(2) |
Have
all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding l2 months
(or for such shorter period that the registrant was required to file such reports) been filed? If answer is no, identify report(s). |
|
☒ Yes |
☐ No |
|
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|
|
|
|
|
(3) |
Is
it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be
reflected by the earnings statements to be included in the subject report or portion thereof? |
|
☒Yes |
☐ No |
|
|
|
|
|
|
|
|
If so: attach an explanation
of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate
of the results cannot be made. |
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|
When
filed, the Quarterly Report will reflect the results of continuing operations of the Company after conducting various strategic and other
transactions over the course of the year between the quarter ended March 31, 2022 and quarter ended March 31, 2023, as well as changes
to the Company’s business operations during the same period, which the Company expects will result in significant changes to the
Company’s results of continuing operations from the corresponding period for the last fiscal year. Due to the continuing preparation
of the financial statements of the Company, the Company cannot, at this time, provide a reasonable estimate of the results of operations
for the period ended March 31, 2023.
Forward-Looking
Statements
This
Form 12b-25 contains certain forward-looking statements that involve substantial risks and uncertainties. When used herein, the terms
“intends,” “anticipates,” “expects,” “estimates,” “believes” and similar
expressions, as they relate to the Company or our management, are intended to identify such forward-looking statements.
Forward-looking
statements in this Form 12b-25 or hereafter, including in other publicly available documents filed with the Commission, reports to the
stockholders of the Company and other publicly available statements issued or released by the Company involve known and unknown risks,
uncertainties and other factors which could cause the Company’s actual results, performance (financial or operating) or achievements
to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking
statements. Such future results are based upon management’s best estimates based upon current conditions and the most recent results
of operations. These risks include, but are not limited to, the risks set forth herein and in such other documents filed with the Commission,
each of which could adversely affect the Company’s business and the accuracy of the forward-looking statements contained herein.
The Company’s actual results, performance or achievements may differ materially from those expressed or implied by such forward-looking
statements.
LOGIQ,
INC.
(Name
of Registrant as specified in charter)
has
caused this notification to be signed on its behalf by the undersigned thereunto duly authorized.
|
LOGIQ, INC. |
|
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Date: May 15, 2023 |
By: |
/s/
Brent Suen |
|
|
Name: |
Brent Suen |
|
|
Title: |
Chief Executive Officer |
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