Ideanomics Inc (fka IDEXQ)

[WeTheMarket]

Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB
August 10 2023
https://ih.advfn.com/stock-market/NASDAQ/ideanomics-IDEX/stock-news/91788768/form-nt-10-q-notification-of-inability-to-timely

The Registrant is unable to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2023 (the “Report”) by the prescribed due date of August 9, 2023, without unreasonable effort or expense for the following reasons:

In conjunction with the Registrant’s financial close of the second quarter of 2023, the Registrant has been completing the required accounting activities governing annual and quarterly assessments of the valuation of assets and business units. The decline in and current level of the Registrant’s market capitalization has recently generated some incremental material questions regarding the application of impairment standards, which are in process, but require additional time to complete related valuation activities. The Registrant believes it will be able to conclude these ongoing valuation activities within the period specified in Rule 12b-25(b)(2) based on the definition of related scope of work and accounting questions.

In accordance with Rule 12b-25 promulgated under the Securities Exchange Act of 1934, as amended, the Registrant intends to file its Quarterly Report on Form 10-Q on or prior to the fifth calendar day following the prescribed due date.