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Lakeside Holding (LSH) delays Q1 10-Q; cites subsidiary disposal and provides preliminary Q1 figures

Filing Impact
(High)
Filing Sentiment
(Negative)
Form Type
NT 10-Q

Rhea-AI Filing Summary

Lakeside Holding Limited submitted a Form 12b-25 notifying the SEC that it could not timely file its Quarterly Report on March 31, 2026 and expects to file the Form 10-Q on or before the fifth calendar day following the prescribed due date. The delay reflects additional time needed to complete disclosures and review related to a corporate structure change and the disposal of a subsidiary in February 2026.

The company states preliminary, management-estimated results for the quarter: total revenue of approximately $1.4 million for the three months ended March 31, 2026 versus $0.5 million a year earlier; net loss from continuing operations of approximately $1.7 million versus $0.4 million; and comprehensive income of approximately $0.2 million for the quarter ended March 31, 2026 compared with comprehensive income of approximately $1.1 million for the prior-year period. The company says the figures are subject to verification and audit review and that additional disclosures will appear in the Form 10-Q.

Positive

  • None.

Negative

  • None.

Insights

Delay driven by post-disposal disclosure and review; preliminary quarter figures provided.

The filing explains the registrant needs extra time to complete disclosures tied to a corporate structure change and the February 2026 disposal of a subsidiary. Management provided preliminary estimates for revenue, loss from continuing operations, and comprehensive income for the quarter ended March 31, 2026.

Cashflow treatment and audit adjustments are not described; the company states these estimates are subject to verification and auditor review. Subsequent Form 10-Q will include finalized disclosures and reconciliations.

Total revenue (Q1 2026) $1.4 million three months ended March 31, 2026
Total revenue (Q1 2025) $0.5 million three months ended March 31, 2025
Net loss from continuing operations (Q1 2026) $1.7 million three months ended March 31, 2026
Net loss from continuing operations (Q1 2025) $0.4 million three months ended March 31, 2025
Comprehensive income (Q1 2026) $0.2 million three months ended March 31, 2026
Comprehensive income (Q1 2025) $1.1 million three months ended March 31, 2025
Form 12b-25 regulatory
"submitted a Form 12b-25 notifying the SEC that it could not timely file"
Form 12b-25 is a notice a publicly traded company files with the U.S. Securities and Exchange Commission when it cannot deliver a required periodic report (like a quarterly or annual financial report) on time. It explains the reason for the delay and gives the company a short, temporary window to finish the report without being marked as delinquent; investors watch it because late filings can signal accounting, operational, or control issues that may affect a company’s reliability and stock risk, much like a missed homework deadline can raise concerns about a student’s preparedness.
discontinued operation financial
"comparative financial figures... were reclassified to items named "XXXX-discontinued operation""
A discontinued operation is a part of a company that has been sold, closed, or is planned to be shut down, and will no longer be part of its ongoing business activities. For investors, it matters because it can significantly affect a company's financial results and future outlook, similar to removing a large, ongoing project from a company's operations. Recognizing discontinued operations helps investors better understand a company's current performance separate from parts that are no longer active.
Form 10-Q regulatory
"disclosures to be included in the Quarterly Report on Form 10-Q for the fiscal period ended March 31, 2026"
A Form 10-Q is a detailed report that publicly traded companies are required to file with regulators three times a year, providing an update on their financial health and business activities. It is important for investors because it offers timely insights into a company's performance, helping them make informed decisions about buying or selling stocks. Think of it as a regular check-up report that shows how well a company is doing.

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 12b-25

 

NOTIFICATION OF LATE FILING

 

(Check One): ☐ Form 10-K ☐ Form 20-F Form 11-K Form 10-Q Form 10-D

 

Form N-CEN Form N-CSR

 

For Period Ended: March 31, 2026

 

  Transition Report on Form 10-K

 

  Transition Report on Form 20-F

 

  Transition Report on Form 11-K

 

  Transition Report on Form 10-Q

 

For the Transition Period Ended: _____________________________________

 

Read Instructions (on back page) Before Preparing Form. Please Print or Type.

Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.

 

If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:

 

 

 

PART I – REGISTRANT INFORMATION

 

Lakeside Holding Limited

Full Name of Registrant:

 

N/A

Former Name if Applicable:

 

1475 Thorndale Avenue, Suite A

Address of Principal Executive Office (Street and number):

 

Itasca, Illinois 60143

City, State and Zip Code

 

 

 

 

PART II – RULES 12b-25(b) AND (c)

 

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed (Check box if appropriate)

 

  (a)   The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
       
  (b)   The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and
       
  (c)   The accountant’s statement or other exhibit required by Rule 12(b)-25(c) has been attached if applicable.

 

PART III – NARRATIVE

 

State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

 

Lakeside Holding Limited (the “Registrant”) requires additional time to complete certain disclosures to be included in the Quarterly Report on Form 10-Q for the fiscal period ended March 31, 2026 (the “Form 10-Q”). The preparation and review of such disclosures required to be presented in the Form 10-Q could not be completed and filed by the Registrant without undue hardship and expense to the Registrant due in part to the circumstances described in Part IV below. The Registrant expects to file the Form 10-Q on or before the fifth calendar day following the prescribed due date.

 

PART IV – OTHER INFORMATION

 

(1) Name and telephone number of person to contact in regard to this notification:

 

Long Yi   224   446-9048
(Name)   (Area Code)   (Telephone Number)

 

(2) Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s).

 

☒ Yes No

 

(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?

Yes ☐ No

 

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made. 

 

The numbers are subject to the verification by the management and the review by the auditors. As a result, please refer to the quarterly report to be filed for the period ended March 31, 2026.

 

The Registrant’s results of operations for the three months ended March 31, 2026 are anticipated to be significantly different from the corresponding period in the prior fiscal year due to the Registrant completed a corporate structure change, disposing of one of its subsidiaries in February 2026. As a consequence, the comparative financial figures in relation to operations under the disposed subsidiary in the fiscal period ended March 31, 2026 was reclassified to items named “XXXX-discontinued operation”. Management’s current reasonable estimates of the results of operation are as follows, which are subject to change upon the completion of the financial statements: (i) total revenue, increased to approximately $1.4 million for the three months ended March 31, 2026 from approximately $0.5 million for the three months ended March 31, 2025; (ii) net loss from continuing operations increased to approximately $1.7 million for the three months ended March 31, 2026 from approximately $0.4 million for the three months ended March 31, 2025; and (iii) due to the disposal, the Registrant earned comprehensive income of approximately $0.2 million for the three months ended March 31, 2026 while is suffered comprehensive income of approximately $1.1 million for the three months ended March 31, 2025. Additional narrative and quantitative disclosure regarding the Registrant’s results of operations for the quarter ended March 31, 2026 will be disclosed in the Registrant’s Quarterly Report on Form 10-Q.

 

2 

 

 

  Lakeside Holding Limited  
  (Name of Registrant as Specified in Charter)  

 

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: May 15, 2026 By: /s/ Long Yi
    Name: Long Yi 
   

Title:

Chief Financial Officer

(Principal Executive Officer)

 

ATTENTION

 

Intentional misstatements or omissions of fact constitute Federal criminal violations. (See 18 U.S.C. 1001).

 

3 

 

FAQ

Why did Lakeside Holding (LSH) file a Form 12b-25 for the quarter ended March 31, 2026?

The company needs additional time to complete disclosures related to a corporate structure change and a subsidiary disposal completed in February 2026. Management says preparation and review of required Form 10-Q disclosures could not be completed without undue hardship and expense.

When does Lakeside expect to file the delayed Form 10-Q?

Lakeside expects to file the Quarterly Report on Form 10-Q on or before the fifth calendar day following the prescribed due date. The Form 12b-25 explicitly sets that target for the filing extension.

What preliminary financial figures did Lakeside disclose for Q1 2026?

Management estimates total revenue of approximately $1.4 million, net loss from continuing operations of approximately $1.7 million, and comprehensive income of approximately $0.2 million for the three months ended March 31, 2026.

Why are these numbers labeled preliminary for Lakeside's Q1 2026 results?

The company states the numbers are subject to management verification and auditor review and that comparative figures were reclassified due to the disposed subsidiary. Final figures and narrative will appear in the filed Form 10-Q.

Did Lakeside say whether prior periodic reports were filed on time?

The filing includes the standard checkbox question on prior filings; the Form 12b-25 indicates that other required periodic reports were filed (the checkbox response in the document is marked "Yes").