When a company cannot file a 10-K or 10-Q within the given timeframe, SEC rule 12b-25 requires that the company must use an NT, non-timely, filing. An NT filing is a notice sent from the company stating that the deadline has not been met due to a given reason and that the actual filing will be filed within a specified range of time.
Depending on the reason for an NT they can actually be a good thing. Such as the company has an announcement to make which may include an acquisition or merger. It's a wait and see.
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