Above Food Ingredients Inc. Confirms January 2026 Release of Audited Fiscal 2025 Results, Highlights Strong Profitability and Clean Balance Sheet, and Announces Clear Path to Completion of Palm Global Merger
Rhea-AI Summary
Above Food Ingredients (NASDAQ: ABVE) expects to file audited fiscal 2025 results by the end of January 2026, completing substantial audit work and satisfying Nasdaq reporting requirements. The company said there are no known audit issues or disagreements with auditors and that the extended timing reflects complex restructuring-related procedures.
Above Food requested the customary 180-day Nasdaq extension (review expected in 30–45 days) but expects to regain compliance within January 2026. The company confirmed completion of legacy business restructuring and a streamlined balance sheet for fiscal 2026, and it expects to meet or exceed its previously announced profit target. A planned merger with Palm Global is expected to close shortly after the filing.
Positive
- Audited FY2025 filing expected by end of January 2026
- Requested the standard 180-day Nasdaq extension; panel review in 30–45 days
- Completed legacy business restructuring, producing a streamlined balance sheet for FY2026
- Planned Palm Global merger expected to close shortly after the filing
Negative
- Company is currently subject to a Nasdaq Form 20-F filing deficiency and required an extension
- Restructuring involved unspecified write-offs and removals of non-core assets
News Market Reaction – ABVE
On the day this news was published, ABVE gained 37.43%, reflecting a significant positive market reaction. Argus tracked a peak move of +59.3% during that session. Our momentum scanner triggered 82 alerts that day, indicating high trading interest and price volatility. This price movement added approximately $35M to the company's valuation, bringing the market cap to $127M at that time. Trading volume was very high at 3.9x the daily average, suggesting strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Peers in Consumer Defensive / Packaged Foods showed mixed moves (e.g., DDC +13.22%, ATPC -7.01%), with no broad sector trend aligning with ABVE’s flat price.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 12 | Audit & guidance update | Positive | -33.0% | Audit timing update plus raised fiscal 2026 profit outlook above <b>$40M</b>. |
| Nov 28 | Merger & profit update | Positive | +14.1% | Reported debt elimination, Form 20-F timeline, and ><b>$30M</b> profit target. |
| Oct 24 | Stablecoin JV news | Positive | -9.0% | Celebrated Burkina Faso stablecoin JV with up to <b>$8T</b> in pledged assets. |
| Sep 04 | Convertible note financing | Positive | -2.1% | Announced <b>$20M</b> strategic convertible note from Aqua 1 Foundation. |
| Aug 01 | Merger & auditor update | Positive | -0.6% | Updated Palm merger progress and appointed crypto/tokenization‑focused auditor. |
Recent news has often been positively framed yet followed by weak or negative 24h price reactions, suggesting a pattern of skepticism toward upbeat audit, profit, and merger updates.
Over the last six months, Above Food announced multiple Palm Global merger milestones and financing steps tied to digital assets and tokenization. On Aug 1, it reported high Palm shareholder support and a new auditor, with little price follow‑through. Subsequent crypto and Burkina Faso asset‑backed stablecoin updates in September–October 2025 also saw negative reactions. Corporate updates on debt elimination and raising expected profit to over $40 million in November–December 2025 produced volatile but often skeptical trading. Today’s audit‑timing and merger‑path update fits this ongoing strategic narrative.
Market Pulse Summary
The stock surged +37.4% in the session following this news. A strong positive reaction aligns with prior Palm Global acquisition headlines, where average acquisition-tag moves reached 15.78%. However, history also shows that enthusiasm around tokenization, large pledged asset figures, and ambitious profit targets sometimes faded, with several past updates followed by negative 24h performance. Investors would need to weigh improved audit visibility and profitability claims against execution risk on the Palm Global merger and integration of its digital-currency and asset‑tokenization ecosystem.
Key Terms
form 20-f regulatory
staff determination letter regulatory
listing rule 5250(c)(1) regulatory
asset-tokenization technical
AI-generated analysis. Not financial advice.
Regina, Saskatchewan--(Newsfile Corp. - January 7, 2026) - Above Food Ingredients Inc. (NASDAQ: ABVE) ("Above Food" or the "Company") is pleased to confirm that it expects to report its audited financial results for the fiscal year ended January 31, 2025 before the end of January 2026, thereby satisfying all applicable Nasdaq reporting requirements and paving the way for the next phase of the Company's transformative merger with Palm Global. This timing follows the Company's update of December 12, 2025 and reflects the additional technical procedures required to fully capture - and audit - the substantial value created through the Company's comprehensive restructuring initiatives. Above Food reiterates that a significant portion of the audit work has already been completed. Furthermore, there are no known audit issues, no disagreements with its auditors, and no matters of contention that could impede completion. The timing of the filing is solely attributable to the scale and complexity of the work undertaken.
The Company confirms that it has received the customary Staff Determination Letter from The Nasdaq Stock Market LLC ("Nasdaq") regarding Listing Rule 5250(c)(1) in connection with the filing of its Form 20-F. In accordance with standard procedure, the Company has requested the usual 180-day extension, which is expected to be reviewed and granted by the Hearings Panel within 30 to 45 days. As Above Food expects to file its audited financial results on Form 20-F within January 2026 and thereby regain full compliance well ahead of the extension period, the Company does not anticipate that a hearing will be required.
As referenced previously, during the fiscal year ended January 31, 2025, Above Food completed the restructuring of its legacy business, including associated write-offs, clean-ups, and the removal of non-core or non-performing assets. As a result, the Company benefits from a significantly strengthened and streamlined balance sheet for the fiscal year ended January 31, 2026, positioning Above Food for sustainable growth, improved capital efficiency, and enhanced strategic flexibility.
The Company is also pleased to reaffirm that it expects to deliver exceptionally strong profitability for the fiscal year ending January 31, 2026. Above Food reiterates that its previously announced profit target will be met or exceeded, reflecting the benefits of the restructuring, continued operational discipline, and robust performance of the business.
Above Food's merger partner, Palm Global, is fully apprised of and supportive of this process, and the Company is pleased to report that the planned merger is expected to proceed to final closing very shortly after the filing of the results. The significance of this transaction is profound. Palm Global's rapidly expanding digital-currency and real-world asset-tokenization ecosystem - combined with the considerable value of the gold and metals-based assets on its balance sheet - is positioned to deliver transformative growth and unlock shareholder value on a scale far beyond Above Food's current valuation. The merger represents a highly value-accretive catalyst for the Company, marking the beginning of an exciting new chapter of scale, profitability, and global market leadership.
Jason Zhao, Chief Financial Officer of Above Food, commented: "We fully recognize the importance of completing our audit as quickly and responsibly as possible. I am pleased to report that a significant amount of the audit work has already been completed, and we continue to work closely and constructively with our external auditors on the remaining procedures. We can confirm that there are no known audit issues, no disagreements, and no contentious matters that would negatively affect the audit process.
We sincerely appreciate the continued patience and support of our shareholders and partners as we work through the substantial volume of additional documentation required to reflect the full impact of our restructuring efforts. Above Food remains firmly committed to the highest standards of financial reporting, transparency, and regulatory compliance."
About Above Food Ingredients Inc.
Above Food Ingredients Inc. (NASDAQ: ABVE) is an agricultural and food technology company whose vision is to create a healthier world — breaking the cycle of world hunger, one seed, one field, and one bite at a time. Above's robust chain of custody of plant proteins and proprietary seed development capabilities, leverage the power of artificial intelligence-driven genomics and agronomy, and together with Palm's financial technologies will help to break the global cycle of hunger.
Cautionary Statement Regarding Forward-Looking Statements
This press release may contain "forward-looking information" within the meaning of the United States federal securities laws and applicable Canadian securities laws. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," future," "opportunity," "plan," "may," "should," "will," "could," "will be," will continue," and similar expressions.
Forward-looking statements represent current judgments about possible future events, including, but not limited to statements regarding expectations or forecasts of business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs relating to the proposed transaction between Above Food and Palm Global, such as statements regarding the combined operations and prospects of Above Food and Palm Global, the current and projected market, growth opportunities and synergies for the combined company, the expected composition of the management and board of directors of the combined company, the expected trading of the combined company on the Nasdaq, the filing and approval of the Registration Statement and the Prospectus, and the timing and completion of the proposed transaction, including the satisfaction or waiver of all the required conditions thereto.
Factors that could cause actual events to differ include, but are not limited to:
- all conditions to the proposed transaction being met, including Above Food and Palm Global agreeing to a form of plan of arrangement, as well as other conditions set forth in the definitive merger agreement;
- the expected timing of regulatory approvals relating to the proposed transaction, the businesses of Above Food and Palm Global and of the combined company and product launches of such businesses and companies;
- Above Food's inability to file or make effective the Registration Statement or the final Prospectus with the respective regulators;
- Above Food, Palm Global and the combined company's compliance with, and changes to, applicable laws and regulations;
- Above Food and the combined company's ability to list the common shares of the combined company on Nasdaq;
- the ability to successfully integrate the businesses of Above Food and Palm Global after the completion of the proposed transaction;
- the combined company's ability to achieve the expected benefits from the proposed transaction within the expected time frames or at all; and
- the incurrence of unexpected costs, liabilities or delays relating to the proposed transaction.
Forward-looking statements are based on the current expectations of Above Food's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. You should carefully consider all of the risks and uncertainties described in the documents filed by Above Food with the United States Securities and Exchange Commission ("SEC"), which is available on EDGAR at www.sec.gov/edgar.shtml. There may be additional risks that Above Food presently does not know or that Above Food currently believes are immaterial that could also cause actual results to differ from those contained in forward-looking statements. In addition, forward-looking statements provide Above Food's expectations, plans or forecasts of future events and views as of the date of this communication. Above Food anticipates that subsequent events and developments will cause Above Food's assessments to change. However, while Above Food may elect to update these forward-looking statements in the future, Above Food specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Above Food's assessments as of any date subsequent to the date of this communication. Nothing herein should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results in such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein.
It is possible that the Merger may not occur on the terms provided herein or in the Merger Agreement, on the expected timing or at all. In the event that the Merger is terminated Above Food may be liable to pay a termination fee to Palm Global, subject to the precise terms of the Merger Agreement.
Additional Information and Where to Find It:
INVESTORS AND SECURITY HOLDERS OF ABOVE FOOD ARE URGED TO READ THE DOCUMENTS FILED WITH THE SEC, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ABOVE FOOD. Investors and
security holders will be able to obtain free copies of the documents filed with the SEC by Above Food through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by Above Food are also available free of charge on Above Food's website at https://abovefood.com or by contacting Above Food's Investor Relations Department at 2305 Victoria Ave #002, Regina, Saskatchewan, Canada, S4P 0S7
Contacts Media:
media@abovefood.com
Investors:
investors@abovefood.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279701
FAQ
When will Above Food (ABVE) file its audited fiscal 2025 results?
Why did Above Food (ABVE) delay its Form 20-F filing into January 2026?
Has Above Food (ABVE) received any Nasdaq notices and what happens next?
Will the Palm Global merger with Above Food (ABVE) close before or after the audited filing?
Does Above Food (ABVE) report audit problems or disagreements with auditors?
What operational changes did Above Food (ABVE) complete during fiscal 2025?
