They can file a FORM 12b-25 NOTIFICATION OF LATE FILING.
Example of Form 12b-25 below from CBP. Then a compliance plan is submitted.
-------------------------------------- The Company has encountered delays in completing its consolidated financial statements for the period ended October 31, 2012 and its annual audit for the fiscal year ended October 31, 2012. As such the Company has been unable to complete and file its Form 10-K for such period. In addition, the Company has experienced a corresponding delay in completing its Form 10-Q for the period ended January 31, 2013. As such, the information necessary for the filing of a complete and accurate report on Form 10-Q could not be gathered within the prescribed time period without unreasonable effort and expense. The Company remains committed to completing its Form 10-Q for the period ended January 31, 2013 at the earliest possible time, but does not currently anticipate its completion within the fifth calendar day following the prescribed due date.
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