Notification That Quarterly Report Will Be Submitted Late (nt 10-q)
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
NOTIFICATION OF LATE FILING
¨ Form 10-K
¨ Form 20-F ¨
Form 11-K x Form 10-Q and Form 10-D
Form N-SAR ¨ Form N-CSR
For Period Ended: March 31, 2020
Report on Form 10-K
Report on Form 20-F
Report on Form 11-K
Report on Form 10-Q
Report on Form N-SAR
For the Transition Period Ended:
Nothing in this form shall be construed to imply that the
Commission has verified any information contained herein.
If the notification relates to a portion of the filing checked
above, identify the Item(s) to which the notification relates:
PART I - REGISTRANT INFORMATION
Full Name of Registrant:
Exela Technologies, Inc.
Former Name if Applicable:
Address of Principal Executive Office (Street and
2701 E. Grauwyler Rd.
City, State and Zip Code:
Irving, TX 75061
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) x
||The reasons described in reasonable detail in Part III of
this form could not be eliminated without unreasonable effort or
||The subject annual report, semi-annual report, transition
report on Form 10-K, Form 20-F, Form 11-K,
Form N-SAR 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
||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-SAR, N-CSR, or the transition report or portion
thereof, could not be filed within the prescribed time period.
As previously reported, the Company restated its financial
statements for the years ended December 31, 2017 and 2018 and
the interim periods through September 30, 2019, which were
included in the Company’s Form 10-K for the year ended
December 31, 2019 (the “Form 10-K”) filed on June 9,
2020. Due to the delay in filing the Form 10-K as a result of
the restatement, the Company was unable to dedicate its full
resources to the preparation of its Form 10-Q for the quarter
ended March 31, 2020 (the “Form 10-Q”) and, as a result,
the Company is unable to timely file, without unreasonable effort
or expense, the Form 10-Q. The Company intends to file the
Form 10-Q within the five-day extension period.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard
to this notification
(2) Have all other periodic reports required under section 13
or 15(d) of the Securities Exchange Act of 1934 or
Section 30 of the Investment Company Act of 1940 during the
preceding 12 months or for such shorter period that the registrant
was required to file such report(s) been filed? If the answer
is no, identify report(s).
x Yes ¨ No
(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?
x 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
The Company expects to report (a) total revenue of
approximately $365.6 million for the three months ended
March 31, 2020, compared to $404.4 million for the three
months ended March 31, 2019, representing an approximately
9.6% decrease and (b) net loss of approximately $11.6 million
for the three months ended March 31, 2020, compared to net
loss of $32.2 million for the three months ended March 31,
2019, representing an approximately 64% improvement.
of Registrant as specified in charter)
has caused this notification to be signed on its behalf by the
undersigned hereunto duly authorized.
INSTRUCTION: The form may be signed by an executive officer of the
registrant or by any other duly authorized representative. The name
and title of the person signing the form shall be typed or printed
beneath the signature. If the statement is signed on behalf of
registrant by an authorized representative (other than an executive
officer), evidence of the representative’s authority to sign on
behalf of the registrant shall be filed with the form.
Intentional misstatements or omissions of fact constitute
Federal Criminal Violations (See 18 U.S.C. 1001).