Polished.com Announces NYSE American Extension To Regain Listing Compliance
February 23 2023 - 8:00AM
Business Wire
Polished.com Inc. (NYSE: POL) (formerly known as 1847 Goedeker
Inc.) (“Polished” or the “Company”), a content driven and
technology enabled shopping destination for appliances, furniture
and home goods in the U.S. household appliances market, today
announced that it is not in compliance with the continued listing
and trading standards of the NYSE American LLC (“NYSE American”)
and that its NYSE American listing is being continued pursuant to
an extension that the Company has received from the NYSE
American.
The extension, which is subject to review by the NYSE American
on an ongoing basis, provides the Company until July 31, 2023 to
file its Quarterly Reports on Form 10-Q for the quarters ended June
30, 2022 and September 30, 2022 (together, the “Quarterly Reports”)
with the Securities and Exchange Commission (“SEC”). The delay in
filing the Quarterly Reports is related to an internal
investigation conducted by the Audit Committee of Polished’s Board
of Directors and external counsel, which, as previously reported,
concluded on December 22, 2022. The extension period has no
immediate impact on the listing or trading of the Company’s
securities on the NYSE American. The Company intends to regain
compliance with the NYSE American’s listing standards by filing the
Quarterly Reports with the SEC by July 31, 2023. The Company also
intends to file all subsequent reports, including the Company’s
Annual Report on Form 10-K for the year ended December 31, 2022 and
the Company’s Quarterly Report on Form 10-Q for the quarter ended
March 31, 2023, by no later than July 31, 2023.
Additionally, the Company is working diligently with its auditor
to complete a re-audit of fiscal year 2021 and review the financial
statements for the quarters ended June 30, 2021, September 30,
2021, and March 31, 2022. The Company intends to file all necessary
restatements by July 31, 2023.
ABOUT POLISHED
Polished is raising the bar, delivering a world-class,
white-glove shopping experience for home appliances. From the best
product selections from top brands to exceptional customer service,
we are simplifying the purchasing process and empowering consumers
as we provide a polished experience, from inspiration to
installation. A product expert helps customers get inspired and
imagine the space they want, then shares fresh ideas, unbiased
recommendations and excellent deals to suit the project's budget
and style. The goal is peace of mind when it comes to new
appliances. Polished perks include its "Love-It-Or-Return-It"
30-day policy, extended warranties, the ability to arrange for
delivery and installation at your convenience and other special
offers. Learn more at www.Polished.com.
FORWARD LOOKING STATEMENTS
This press release contains "forward-looking statements" that
are subject to substantial risks and uncertainties. All statements,
other than statements of historical fact, contained in this press
release are forward-looking statements. Forward-looking statements
contained in this press release may be identified by the use of
words such as "anticipate," "believe," "contemplate," "could,"
"estimate," "expect," "intend," "seek," "may," "might," "plan,"
"potential," "predict," "project," "target," "aim," "should,"
"will", "would," or the negative of these words or other similar
expressions, although not all forward-looking statements contain
these words. Forward-looking statements are based on the Company's
current expectations and are subject to inherent uncertainties,
risks and assumptions that are difficult to predict. Further,
certain forward-looking statements are based on assumptions as to
future events that may not prove to be accurate. You should not
place undue reliance on forward-looking statements because they
involve known and unknown risks, uncertainties and other factors,
which are, in some cases, beyond the Company’s control and which
could materially affect results. Factors that may cause actual
results to differ materially from current expectations include,
among other things, those described more fully in the section
titled "Risk Factors" of the Company’s Annual Report on Form 10-K
for the year ended December 31, 2021, and Quarterly Report on Form
10-Q for the quarter ended March 31, 2022, filed with the
Securities and Exchange Commission. Forward-looking statements
contained in this announcement are made as of this date, and the
Company undertakes no duty to update such information except as
required under applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230223005376/en/
Ashley Areopagita ir@polished.com
Polished (AMEX:POL)
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