Consensus Cloud Solutions, Inc. Announces Receipt of Notice from Nasdaq Regarding Late Filing of Annual Report on Form 10-K
March 27 2023 - 4:01PM
Business Wire
Consensus Cloud Solutions, Inc. (NASDAQ: CCSI) announced today
that in connection with its previously announced delay in filing
its Annual Report on Form 10-K for the year ended December 31, 2022
(the “Form 10-K”), it received a written notice from The Nasdaq
Stock Market LLC ("Nasdaq") on March 21, 2023, stating that because
the Company has not yet filed the Form 10-K, it is no longer in
compliance with Nasdaq Listing Rule 5250(c)(1), which requires
listed companies to timely file all required periodic financial
reports with the Securities and Exchange Commission (the
"SEC").
This notification has no immediate effect on the listing of the
Company's shares on Nasdaq.
The Notice states that, under Nasdaq rules, the Company has 60
calendar days to submit to Nasdaq a plan (the “Plan”) to regain
compliance with Nasdaq’s continued listing requirements (the “Plan
Deadline”). If the Plan is accepted, Nasdaq may grant an extension
of up to 180 calendar days to regain compliance. The Company can
also regain compliance with Nasdaq’s continued listing requirements
at any time prior to the Plan Deadline by filing the Form 10-K,
along with any subsequent periodic reports that may become due, and
by continuing to comply with Nasdaq’s other continued listing
requirements.
The Company intends to file the Form 10-K with the SEC on or
before March 31, 2023 and in any event, substantially in advance of
the Plan Deadline.
The Company has not as of the date hereof identified any
material changes to the unaudited, preliminary financial data
furnished in the Earnings 8-K as of or for the year ended December
31, 2022.
The Company is still finalizing its financial closing process
for the year ended December 31, 2022 and the Company’s audited
financial results as of and for the year ended December 31, 2022
are not yet available. The unaudited, preliminary financial data
for the year ended December 31, 2022 included in Earnings 8-K were
prepared by, and is the responsibility of, the Company’s
management. The Company’s auditor has not audited, reviewed,
compiled or applied agreed-upon procedures with respect to such
preliminary financial data. Accordingly, the Company’s auditor does
not express an opinion or any other form of assurance with respect
thereto. Upon completion of its financial closing procedures, the
Company’s audited financial results may differ materially from its
preliminary estimates.
About Consensus Cloud Solutions
Consensus Cloud Solutions, Inc. (NASDAQ: CCSI) is the world’s
largest digital fax provider and a trusted global source for the
transformation, enhancement and secure exchange of digital
information. We leverage our 25-year history of success by
providing advanced solutions for regulated industries such as
healthcare, finance, insurance and manufacturing, as well as state
and the federal government. Our solutions consist of: cloud faxing;
digital signature; intelligent data extraction using natural
language processing and artificial intelligence; robotic process
automation; interoperability; and workflow enhancement that result
in improved healthcare outcomes. Our solutions can be combined with
best-in-class managed services for optimal implementations. For
more information about Consensus, visit consensus.com and follow
@ConsensusCS on Twitter to learn more.
“Safe Harbor” Statement Under the Private Securities
Litigation Reform Act of 1995: Certain statements in this press
release are “forward-looking statements” within the meaning of The
Private Securities Litigation Reform Act of 1995, including,
without limitation, statements regarding: the Company’s timing of
filing of the Annual Report and the restatement of its Quarterly
Report on Form 10-Q for the period ended September 30, 2022; the
identification of no material changes from the unaudited
preliminary results for the year ended December 31, 2022 reported
on February 22, 2023, expectations concerning the Company’s
performance and financial outlook; and any statements or
assumptions underlying any of the foregoing. These forward-looking
statements are based on management’s current expectations or
beliefs and are subject to numerous assumptions, risks and
uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements. For a more
detailed description of the risk factors and uncertainties
affecting Consensus, refer to the 2021 Annual Report on Form 10-K
filed by Consensus on April 15, 2022, and, when filed, the Form
10-K and the other reports filed by Consensus from time to time
with the SEC, each of which is available at www.sec.gov.
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version on businesswire.com: https://www.businesswire.com/news/home/20230327005659/en/
Laura Hinson Consensus Cloud Solutions, Inc 844-211-1711
investor@consensus.com
Concensus Cloud Solutions (NASDAQ:CCSI)
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