$TEUM Worst case scenario: TEUM files a late notice tomorrow, and their excuse will likely be a delay in receiving the final audit (it's in the hands of the auditors), which they can't control. " A very common reason for an NT 10-Q is a merger or acquisition, which prevents results from being incorporated in time for the filing. The SEC provides for "unreasonable effort and expense," with a suitable explanation, as part of the application for relief. Late filings may also be because of uncertainty surrounding litigation, due to a company’s auditor not having yet completed its review of the company’s operations, a sign of a company in financial distress, or because a company emerging from bankruptcy needs more time to complete the required disclosures. "
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