FlexShopper Granted 180-Day Extension
FlexShopper (Nasdaq: FPAY), a lease-to-own payment solutions provider, has received a 180-day extension from Nasdaq until October 13, 2025, to regain compliance with Listing Rule 5250(c)(1). The extension allows FlexShopper additional time to file its delayed 2024 annual report and Q1 2025 quarterly report.
The company is working with its independent auditor and external advisors to complete the 2024 annual audit. While FPAY's shares will continue trading on Nasdaq during this period, failure to file the required reports by the October deadline could result in potential delisting.
FlexShopper (Nasdaq: FPAY), fornitore di soluzioni di pagamento a noleggio con riscatto, ha ottenuto una proroga di 180 giorni da Nasdaq fino al 13 ottobre 2025 per tornare conforme alla Regola di Quotazione 5250(c)(1). Questa estensione concede a FlexShopper ulteriore tempo per presentare il suo bilancio annuale 2024 e il rapporto trimestrale del primo trimestre 2025 in ritardo.
L’azienda sta collaborando con il proprio revisore indipendente e consulenti esterni per completare la revisione contabile annuale del 2024. Sebbene le azioni di FPAY continueranno a essere negoziate su Nasdaq durante questo periodo, la mancata presentazione dei rapporti richiesti entro la scadenza di ottobre potrebbe comportare una possibile esclusione dalla quotazione.
FlexShopper (Nasdaq: FPAY), proveedor de soluciones de pago con opción a compra, ha recibido una prórroga de 180 días por parte de Nasdaq hasta el 13 de octubre de 2025 para recuperar el cumplimiento de la Norma de Listado 5250(c)(1). Esta extensión le brinda a FlexShopper tiempo adicional para presentar su informe anual 2024 y el informe trimestral del primer trimestre de 2025 retrasados.
La compañía está trabajando con su auditor independiente y asesores externos para completar la auditoría anual 2024. Aunque las acciones de FPAY seguirán cotizando en Nasdaq durante este período, la falta de presentación de los informes requeridos antes de la fecha límite de octubre podría resultar en una posible exclusión de la cotización.
FlexShopper (나스닥: FPAY)는 리스투오운 결제 솔루션 제공업체로서, 나스닥으로부터 2025년 10월 13일까지 180일 연장을 받아 상장 규칙 5250(c)(1) 준수를 회복할 시간을 확보했습니다. 이 연장은 FlexShopper가 지연된 2024년 연례 보고서와 2025년 1분기 분기 보고서를 제출할 추가 시간을 제공합니다.
회사는 독립 감사인 및 외부 자문과 협력하여 2024년 연례 감사를 완료하고 있습니다. FPAY의 주식은 이 기간 동안 나스닥에서 계속 거래되지만, 10월 마감일까지 필요한 보고서를 제출하지 못하면 상장 폐지 가능성이 있습니다.
FlexShopper (Nasdaq : FPAY), fournisseur de solutions de paiement en location-vente, a obtenu une prolongation de 180 jours de la part de Nasdaq jusqu’au 13 octobre 2025 pour se conformer à la règle de cotation 5250(c)(1). Cette extension offre à FlexShopper un délai supplémentaire pour déposer son rapport annuel 2024 et son rapport trimestriel du premier trimestre 2025 en retard.
L’entreprise collabore avec son auditeur indépendant et ses conseillers externes pour finaliser l’audit annuel 2024. Bien que les actions de FPAY continuent de se négocier sur Nasdaq pendant cette période, le non-dépôt des rapports requis avant la date limite d’octobre pourrait entraîner une radiation éventuelle.
FlexShopper (Nasdaq: FPAY), ein Anbieter von Mietkauf-Zahlungslösungen, hat von der Nasdaq eine 180-tägige Verlängerung bis zum 13. Oktober 2025 erhalten, um die Einhaltung der Notierungsregel 5250(c)(1) wiederherzustellen. Die Verlängerung gibt FlexShopper zusätzliche Zeit, um seinen verspäteten Jahresbericht 2024 und den Quartalsbericht für Q1 2025 einzureichen.
Das Unternehmen arbeitet mit seinem unabhängigen Wirtschaftsprüfer und externen Beratern zusammen, um die Jahresabschlussprüfung 2024 abzuschließen. Während der Handel mit FPAY-Aktien an der Nasdaq in dieser Zeit fortgesetzt wird, könnte ein Versäumnis, die erforderlichen Berichte bis zur Oktober-Frist einzureichen, zu einer möglichen Delistung führen.
- Nasdaq granted 180-day extension to maintain listing compliance
- Company maintains Nasdaq listing during compliance period
- Option for hearing panel review available if deadline is missed
- Company has failed to file 2024 annual report (10-K)
- Q1 2025 quarterly report (10-Q) remains unfiled
- Risk of delisting if compliance not achieved by October 13, 2025
- Delayed financial reporting suggests potential internal control or accounting issues
Insights
FlexShopper secured Nasdaq extension to file delayed financial reports, avoiding immediate delisting but facing October deadline.
FlexShopper has been granted a 180-day extension by Nasdaq to regain compliance with listing requirements after failing to file timely financial reports. This extension, which runs until October 13, 2025, allows the company to maintain its Nasdaq listing while working to complete its 2024 annual audit and file its overdue Form 10-K and Q1 2025 Form 10-Q.
The delayed financial filings represent a significant compliance issue. When public companies fail to file timely reports, it typically signals potential accounting complexities, internal control weaknesses, or governance concerns. The extension indicates Nasdaq reviewed FlexShopper's remediation plan and found it credible enough to warrant additional time.
While the extension prevents immediate delisting, investors should recognize this remains a serious regulatory matter. If FlexShopper fails to file the required reports by the October deadline, the company faces potential delisting proceedings, though it would still have the right to appeal through a Nasdaq Hearings Panel. Trading on OTC markets following a Nasdaq delisting would likely result in reduced liquidity, institutional ownership constraints, and potentially lower valuation multiples.
The company's statement that it's "working with its independent auditor and external advisors" suggests the complexity may require specialized expertise beyond normal audit procedures. The lack of specific details about the cause of the delay and absence of a firm timeline for resolution beyond "near term" updates creates significant uncertainty for investors regarding the company's financial condition.
BOCA RATON, Fla., June 26, 2025 (GLOBE NEWSWIRE) -- FlexShopper, Inc. (Nasdaq: FPAY) (“FlexShopper”), a leading provider of lease-to-own (LTO) payment solutions, today announced that on June 18, 2025, it received notification from The Nasdaq Stock Market LLC (“Nasdaq”) that Nasdaq approved the Company’s request for a 180-calendar day extension (the “Extension”) to regain compliance with Listing Rule 5250(c)(1) (the “Rule”). The Rule requires timely filing of all required periodic financial reports with the U.S. Securities and Exchange Commission.
The Extension was granted following Nasdaq’s review of materials submitted by the Company on June 16, 2025. Based on this review, the Nasdaq Staff determined to provide an exception, allowing FlexShopper additional time to achieve compliance with the Rule.
FlexShopper is working with its independent auditor and external advisors to complete its annual audit for the fiscal year ended December 31, 2024. The Company expects to provide an update on the status of its delayed 2024 financial filings in the near term.
During the New Compliance Period, FlexShopper’s common shares will continue to trade on the Nasdaq Stock Market. If at any time before October 13, 2025, the Company files its Form 10-K for the period ended December 31, 2024 and its Form 10-Q for the period ended March 31, 2025, it is expected that Nasdaq would notify the Company that it has regained compliance with the Listing Rule 5250(c)(1). In the event the Company does not file its Form 10-K for the period ended December 31, 2024 and its Form 10-Q for the period ended March 31, 2025 by October 13, 2025, the Company may be subject to delisting of the common shares from the Nasdaq, at which time the Company may request a review of the delisting determination by a Nasdaq Hearings Panel.
About FlexShopper
FlexShopper, Inc. is a leading national financial technology company that offers innovative payment options to consumers. FlexShopper provides a variety of flexible funding options for underserved consumers through its direct-to-consumer online marketplace at Flexshopper.com and in partnership with merchants both online and at brick-and-mortar locations. FlexShopper’s solutions are crafted to meet the needs of a wide range of consumer segments through lease-to-own and lending products.
Forward-Looking Statements
All statements in this release that are not based on historical fact are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate,” or other comparable terms. Examples of forward-looking statements include, among others, statements we make regarding expectations of the annual audit and filing of the Company’s 10-K and 10-Q, the continued listing on the Nasdaq Stock Market, and expectations concerning our business strategy. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including, among others, the following: our ability to obtain adequate financing to fund our business operations in the future; the failure to successfully manage and grow our FlexShopper.com e-commerce platform; our ability to maintain compliance with financial covenants under our credit agreement; our dependence on the success of our third-party retail partners and our continued relationships with them; our compliance with various federal, state and local laws and regulations, including those related to consumer protection; the failure to protect the integrity and security of customer and employee information; and the other risks and uncertainties described in the Risk Factors and in Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q. The forward-looking statements made in this release speak only as of the date of this release, and FlexShopper assumes no obligation to update any such forward-looking statements to reflect actual results or changes in expectations, except as otherwise required by law.
Company Contact:
FlexShopper, Inc.
Investor Relations
ir@flexshopper.com
Investor and Media Contact:
Andrew Berger
Managing Director
SM Berger & Company, Inc.
Tel (216) 464-6400
andrew@smberger.com
FAQ
What is the deadline for FlexShopper (FPAY) to file its delayed financial reports?
Why did Nasdaq grant FlexShopper (FPAY) an extension?
What happens if FlexShopper (FPAY) fails to meet the October 2025 deadline?
Will FlexShopper (FPAY) continue trading during the extension period?
What reports does FlexShopper (FPAY) need to file to regain compliance?
