Locafy Receives Nasdaq Notification Regarding Delayed Filing of Interim Financials

Rhea-AI Summary

Locafy (NASDAQ: LCFY), a global location-based digital marketing company, has received a notification from Nasdaq regarding non-compliance with listing rules. The company failed to file its Form 6-K containing interim financial statements for Q2 ended December 31, 2024.

Locafy has been given 60 calendar days until September 1, 2025 to submit a compliance plan. If accepted by Nasdaq, the company could receive up to 180 days extension until December 29, 2025 to regain compliance. While the notice does not immediately affect Locafy's listing status, there is no guarantee that the company's plan will be accepted or that compliance will be achieved.

Positive

• No immediate impact on stock listing or trading
• Company has 60 days to submit compliance plan
• Potential 180-day extension available if plan is accepted

Negative

• Failure to file required Form 6-K with Q2 2024 financial statements
• Risk of potential delisting if compliance is not achieved
• Uncertainty regarding acceptance of compliance plan

PERTH, Australia, July 03, 2025 (GLOBE NEWSWIRE) -- Locafy Limited (NASDAQ: LCFY, “Locafy” or the “Company”), a globally recognized leader in location-based digital marketing, today announced that on July 1, 2025, it received a notice from the Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(2) (the “Rule”), as the Company has not yet filed a Form 6-K containing an interim balance sheet and income statement as of the end of its second quarter ended December 31, 2024 (the “Filing”).

The Nasdaq notice has no immediate effect on the listing or trading of the Company’s securities. Under Nasdaq’s listing rules, the Company has 60 calendar days, or until September 1, 2025, to submit a plan to regain compliance. If Nasdaq accepts the Company’s plan, it may grant an extension of up to 180 calendar days from the Filing’s original due date, or until December 29, 2025, for the Company to regain compliance.

Locafy is working diligently to complete the required filing and intends to submit a compliance plan within the required timeframe. There can be no assurance that the Company's plan will be accepted or the Company will be able to regain compliance with the Rule.

About Locafy
 Locafy (Nasdaq: LCFY, LCFYW) is a globally recognized software-as-a-service (SaaS) technology company specializing in local search engine marketing. Founded in 2009, Locafy’s mission is to revolutionize the US$700 billion SEO sector. The Company helps businesses and brands improve search engine relevance and visibility in proximity-based search through a fast, easy, and automated platform. For more information, please visit www.locafy.com.

Forward-Looking Statements
This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "subject to", "believe," "anticipate," "plan," "expect," "intend," "estimate," "project," "may," "will," "should," "would," "could," "can," the negatives thereof, variations thereon and similar expressions, or by discussions of strategy, although not all forward-looking statements contain these words and include, but are not limited to, the Company's ability to regain and maintain compliance with the Nasdaq Capital Market's continued listing requirements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's filings with the Securities and Exchange Commission (the "SEC"), including the Company's Annual Report on Form 20-F, filed with the SEC on November 12, 2024, as amended, and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements

Investor Relations Contact:
Matt Glover
Gateway Group, Inc.
(949) 574-3860
LCFY@gateway-grp.com 

FAQ

Why did Locafy (LCFY) receive a Nasdaq notification on July 1, 2025?

Locafy received the notification because it failed to file its Form 6-K containing interim financial statements for the second quarter ended December 31, 2024, violating Nasdaq Listing Rule 5250(c)(2).

What is the deadline for Locafy (LCFY) to submit its compliance plan to Nasdaq?

Locafy has until September 1, 2025 (60 calendar days) to submit a plan to regain compliance with Nasdaq listing rules.

Will Locafy (LCFY) be immediately delisted from Nasdaq?

No, the notification has no immediate effect on Locafy's listing or trading status on Nasdaq.

What happens if Nasdaq accepts Locafy's (LCFY) compliance plan?

If the plan is accepted, Nasdaq may grant Locafy an extension of up to 180 calendar days until December 29, 2025, to regain compliance.

What are the risks for Locafy (LCFY) regarding this Nasdaq notification?

The main risks include potential delisting if the compliance plan is not accepted or if the company fails to regain compliance within the extended deadline.