Notification That Annual Report Will Be Submitted Late (nt 10-k)
March 31 2022 - 05:38PM
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-SAR ☐ Form N-CSR
For
Period Ended: December 31, 2021
☐ Transition Report on Form 10-K
☐ Transition Report on Form 20-F
☐ Transition Report on Form 11-K
☐ Transition Report on Form 10-Q
☐ Transition 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
AiAdvertising,
Inc.
Full
Name of Registrant
Former
Name if Applicable
321
Sixth Street
Address
of Principal Executive Office (Street and Number)
San
Antonio, TX 78215
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
reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or
expense; |
☒
|
(b) |
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 |
|
(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 why the Form 10-K, 20-F, 11-K, 10-Q,
10-D, N-SAR, N-CSR or the transition report portion thereof, could
not be filed within the prescribed time period. (Attach extra
sheets if needed.)
In
the fourth quarter of 2021, the registrant saw a transformation of
its business from providing agency services consisting primarily of
billable hours, to a Platform-as-a-Service revenue model with
monthly license fees. This business transformation has changed many
operational and accounting functions of the business and the volume
and complexity of revenue testing has largely contributed to delays
in compiling and reviewing the information required to be presented
in the registrant’s Form 10-K.. In addition, delays resulting from
staffing shortages caused by COVID have also contributed to the
delay in filing the Form 10-K.
PART
IV -- OTHER INFORMATION
(1)
Name and telephone number of person to contact in regard to this
notification
Isabel
Gongora |
|
(805) |
|
964-3313 |
(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 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).
☒ 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?
☒ 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.
The
registrant anticipates that the net loss for the year ended
December 31, 2021 was approximately $8.4 million, compared to a net
loss of $1,270,650 for the year ended December 31, 2020. The
increase in net loss was primarily due to an increase in warrant
and stock option expenses, increase in finance charges and SG&A
expenses as the new business model was being implemented and
decrease in third party revenue.
AiAdvertising, Inc.
(Name
of Registrant as Specified in Charter)
Has
caused this notification to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: March 31, 2022 |
By: |
/s/ Isabel
Gongora |
|
Name: |
Isabel Gongora |
|
Title: |
Chief Financial Officer |
3
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