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Red Flags

Filings a company makes when something has gone wrong, or is about to: a missed reporting deadline (NT 10-K/Q), a delisting from its exchange (Form 25), a deregistration that ends SEC reporting altogether (Form 15), or an insider's notice of intent to sell restricted stock (Form 144). Any one can be routine — Form 144s are filed constantly, and a late filing is sometimes just a late filing — so what is worth reading here is the pattern and the timing.

Late filings · 2
Warning Late filing notice — 10-Q November 09, 2006

(Attach extra Sheets if Needed) As previously reported, on or about October 26, 2006, the Registrant learned of a misappropriation by its former UK disbursement agent which relates to funds earmark...

Notable Late filing notice — 10-K March 16, 2006

(Attach extra Sheets if Needed) The Registrant’s year end closing work was not complete as of the last day of the filing period for its Annual Report on Form 10-K for the fiscal year ended December...

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