Tupperware Brands, Siebert Financial Among Those Delaying 10-K Filings

Dow Jones03-30

By Josh Beckerman

Tupperware Brands, Siebert Financial, Astra Space and Staffing 360 Solutions are among the companies delaying annual reports, which are due on Monday for many smaller companies categorized as non-accelerated filers.

Tupperware has previously noted accounting and liquidity issues, and on Friday reiterated that there is substantial doubt about its ability to continue as a going concern.

"Due to the ongoing material weaknesses in internal control over financial reporting, significant additional procedures are warranted related to the 2023 Form 10-K," the company said. Its accounting department has had "significant attrition which has resulted in resource and skill set gaps, strained resources, and a loss of continuity of knowledge."

Siebert Financial said it needs more time to prepare and review its financial statements after it identified certain deficiencies in its internal control over financial reporting.

Companies frequently offer general terms to explain a delay. ToughBuilt Industries, a home improvement and construction products company, said in its notification on Friday that there has been, "a delay in obtaining and compiling information required to be included in the Form 10-K."

Beam Global, which operates in markets including electric-vehicle charging and energy infrastructure and security, said on Thursday it needed more time to complete acquisition-related accounting in connection with its purchase of Amiga DOO Kraljevo, a Serbia-based maker of steel structures with electronic integration, including streetlights. Beam Global also said its 2023 revenue rose to $67.4 million from $22 million for 2022.

Solar energy company Emeren Group, which said it needs more time to compile and analyze information to complete its financial statements, provided quarterly results on Thursday with unaudited figures. Revenue rose 71% to $44 million, while loss per American depositary share widened to 15 cents from 3 cents.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

March 29, 2024 18:28 ET (22:28 GMT)

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Tupperware Brands, Siebert Financial Among Those Delaying 10-K Filings

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