Replies to post #401675 on Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

Hello 44,
Just a quick note re: Investopedia. They're sloppy and they generally suck. And they provide an example or two of that within the first few paragraphs of the page you linked.

"Understanding SEC Form NT 10-Q
SEC Form NT 10-Q is required to be filed within 45 days following the end of each of a company's first three fiscal quarters. If the 10-Q cannot be filed in a timely manner, the company must file a Form 10-QT with the commission."

1. Form NT 10q is NOT required to be filed within 45 days following the end of each of a company's first three fiscal quarters. It's the Form 10-Q itself that is required to be filed within 45 days following the end of each of a company's first three fiscal quarters. SEC Form NT 10-Q must be filed on the first business day following the due date of the 10-Q if they can't file that form on time. (In IPIX's case that was yesterday).
2. There is no such thing as a "Form 10-QT".


I'm not saying that Investopedia is useless...they occasionally stumble over a fact or two...but one needs to know the answer to a question before they look to Investopedia for it. On second thought I guess that's a pretty decent definition of useless after all.
It's always good to have a backup source anyway.

In an earlier post I linked a legal firm's discussion of the Lateness Notification that included a reference to the way some company's 10-Q lateness notifications were dealt with by the SEC when they failed to provide a fulsome explanation for the delay. Not filing the Form at all won't serve to avoid such sanctions.
A short read if you have the time:
https://www.wilmerhale.com/en/insights/blogs/keeping-current-disclosure-and-governance-developments/20230828-recent-sec-enforcement-activity-serves-as-a-reminder-that-rule-12b-25-requires-substantive-disclosures#:~:text=Rule%2012b%2D25%20requires%20a,and%20less)%20than%20just%20that