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Catheter Precision (NASDAQ: VTAK) delays Q1 2026 10-Q after March 9 acquisitions

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

Rhea-AI Filing Summary

Catheter Precision, Inc. notified the SEC it cannot timely file its Quarterly Report on Form 10-Q for the period ended March 31, 2026 because additional time is needed to complete the non-cash accounting for its March 9, 2026 acquisitions of Fly Flyte, Inc. and Ponderosa Air, LLC. Management expects to use the 5-calendar-day extension permitted under Rule 12b-25 and anticipates filing within that period.

The notification was signed by Chief Financial Officer Philip Anderson on May 18, 2026. The filing explains the delay relates specifically to balance-sheet accounting for the acquired businesses as of the quarter end.

Positive

  • None.

Negative

  • None.

Insights

Delay driven by acquisition accounting for March 9 acquisitions; filing expected within the five-day extension.

The company cites completion of non-cash accounting for the March 9, 2026 acquisitions of Fly Flyte, Inc. and Ponderosa Air, LLC as the reason it cannot file the Form 10-Q for the period ended March 31, 2026. Complex purchase accounting (fair-value allocations, intangible assessment) commonly requires additional analysis.

Timing depends on completing valuation inputs and disclosures; follow-up filings will show the finalized balance-sheet adjustments and any related pro forma or disclosure items once submitted within the Rule 12b-25 extension.

Quarter period end March 31, 2026 Period covered by the delayed Form 10-Q
Acquisition date March 9, 2026 Date of acquisitions of Fly Flyte, Inc. and Ponderosa Air, LLC
Extension period 5 calendar days Permitted Rule 12b-25 extension for quarterly reports
Notification date May 18, 2026 Date the Form 12b-25 was signed by the CFO
non-cash accounting financial
"complete the non-cash accounting relating to the Company's March 9, 2026 acquisition"
Form 12b-25 regulatory
"FORM 12b-25 NOTIFICATION OF LATE FILING"
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.
Rule 12b-25 regulatory
"anticipates the filing of its Quarterly Report within the applicable 5-day extension period provided"
Rule 12b-25 is an SEC filing provision that lets a company notify regulators and the public that it cannot file a required periodic report (like a quarterly or annual report) on time and explains the reason for the delay. For investors, the notice is a formal heads-up that financial information will arrive late—similar to a company calling to say it will be late turning in homework—so it signals increased uncertainty and may affect trading and risk assessments until the filing is available.

 



 

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 N-CEN   ☐ Form N-SAR

 

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 Instruction (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

 

Catheter Precision, Inc

Full Name of Registrant

 
 

Former Name if Applicable

 

1670 Highway 160 West, Suite 205

Address of Principal Executive Office (Street and Number)

 

Fort Mill, South Carolina 29708

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-SAR 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 12b-25(c) has been attached if applicable.

 

PART III NARRATIVE

 

State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period. (Attach extra Sheets if Needed)

 

Management of Catheter Precision, Inc., a Delaware corporation (the "Company"), deems additional time is necessary to complete the non-cash accounting relating to the Company's March 9, 2026 acquisition of Fly Flyte, Inc. and Ponderosa Air, LLC for the Company's balance sheet as of March 31, 2026 relating to its Quarterly Report on Form 10-Q for the period ended March 31, 2026 (the “Quarterly Report”) and that the Quarterly Report cannot be timely filed without unreasonable effort or expense. Management anticipates the filing of its Quarterly Report within the applicable 5-day extension period provided.

 

PART IV - OTHER INFORMATION

 

(1)

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

 

 

Philip Anderson

 

917

 

476-3124

 

(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 reports) 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.

 

 

 

Catheter Precision, Inc.

(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 18, 2026

By:

/s/ Philip Anderson

   

Philip Anderson

Chief Financial Officer

 

 

FAQ

Why did Catheter Precision (VTAK) file a Form 12b-25 delaying its Q1 2026 10-Q?

The company delayed filing to complete non-cash accounting for its March 9, 2026 acquisitions of Fly Flyte, Inc. and Ponderosa Air, LLC, which affects the balance sheet as of March 31, 2026 and requires additional valuation work.

How long will Catheter Precision have to file the delayed Form 10-Q?

Management expects to file within the 5-calendar-day extension provided under Rule 12b-25 for quarterly reports, meaning the company anticipates submitting its Form 10-Q within that permitted extension period.

Who signed the 12b-25 notification for Catheter Precision (VTAK)?

The notification was signed by Philip Anderson, Chief Financial Officer, and dated May 18, 2026, indicating the company formally requested the short extension on that date.

Does the 12b-25 filing indicate other late reports for Catheter Precision over the past 12 months?

The form includes the standard question about prior filings and the box indicating whether all other periodic reports were filed; the provided excerpt shows the question but does not display an affirmative or negative answer.

What specific accounting work is causing the delay for Catheter Precision's Q1 2026 filing?

The company states it needs additional time to complete the non-cash accounting related to the March 9, 2026 acquisitions, which typically includes fair-value allocations and balance-sheet adjustments for acquired assets and liabilities.