Mist

[Mist @optionomist]

➡️FYI for everyone wondering why the $SMCI 10-K hasn't been filed yet:

When they filed Form 12b-25 for a late 10-K they did NOT check the box under Part II of the form.

This indicates that they do NOT expect to file the 10-K within the 15-day extension period.

[Mist @optionomist]

@Beth_Kindig What about Jan & Feb 25?

[Mist @optionomist]

In case you missed it 👇 $SMCI

https://t.co/RkjptLC4U0

[Mist @optionomist]

➡️BREAKING: $SMCI filed an 8-K after hours, announcing a third amendment to its loan agreement with Cathay Bank.

Key updates: deadline for audited FY24 financials extended to Dec 31, 2024, plus a new covenant requiring $150M in unrestricted cash at all times.

[Mist @optionomist]

➡️BREAKING: $SMCI filed an 8-K after hours, announcing a third amendment to its loan agreement with Cathay Bank.

Key updates: deadline for audited FY24 financials extended to Dec 31, 2024, plus a new covenant requiring $150M in unrestricted cash at all times.

[Mist @optionomist]

Recently there have been growing concerns about dealings with supplier companies operated by relatives of the CEO, which could potentially be used to manipulate financial metrics, as highlighted by Hindenburg Research in their report.

The full report is available at: https://t.co/mv0YjIvv0z

[Mist @optionomist]

➡️Ernst & Young resigns as auditor for $SMCI, citing concerns about management integrity and board oversight. Special committee investigation ongoing. No financial restatements expected. Company disagrees with EY's decision but takes concerns seriously. #SMCI

[Mist @optionomist]

Some key implications for Super Micro Computer ⬇️

Accounting and governance concerns: The company has a history of accounting irregularities, including an SEC charge in 2020 for improper revenue recognition. There are allegations that similar practices may be continuing.

Leadership issues: SMCI has reportedly rehired executives who were associated with previous accounting scandals, raising questions about the company's commitment to improved governance.

[Mist @optionomist]

@TikiTorchin Exactly 👍

[Mist @optionomist]

➡️FYI for everyone wondering why the $SMCI 10-K hasn't been filed yet:

When they filed Form 12b-25 for a late 10-K they did NOT check the box under Part II of the form.

This indicates that they do NOT expect to file the 10-K within the 15-day extension period.

[Mist @optionomist]

@MomAngtrades Definitely not! Now we just wait and see how things unfold

[Mist @optionomist]

@naval4you They probably won't

⬇️

https://t.co/gPGMRRNPlE

[Mist @optionomist]

➡️FYI for everyone wondering why the $SMCI 10-K hasn't been filed yet:

When they filed Form 12b-25 for a late 10-K they did NOT check the box under Part II of the form.

This indicates that they do NOT expect to file the 10-K within the 15-day extension period.

[Mist @optionomist]

@Arch_Angel44 @gurgavin ⬇️ FYI https://t.co/gPGMRRNPlE

[Mist @optionomist]

➡️FYI for everyone wondering why the $SMCI 10-K hasn't been filed yet:

When they filed Form 12b-25 for a late 10-K they did NOT check the box under Part II of the form.

This indicates that they do NOT expect to file the 10-K within the 15-day extension period.

[Mist @optionomist]

@DarioCpx FYI ⬇️ https://t.co/gPGMRRNPlE

[Mist @optionomist]

➡️FYI for everyone wondering why the $SMCI 10-K hasn't been filed yet:

When they filed Form 12b-25 for a late 10-K they did NOT check the box under Part II of the form.

This indicates that they do NOT expect to file the 10-K within the 15-day extension period.

[Mist @optionomist]

@FinanceLancelot FYI: https://t.co/gPGMRRNPlE

[Mist @optionomist]

➡️FYI for everyone wondering why the $SMCI 10-K hasn't been filed yet:

When they filed Form 12b-25 for a late 10-K they did NOT check the box under Part II of the form.

This indicates that they do NOT expect to file the 10-K within the 15-day extension period.

[Mist @optionomist]

➡️ This may indicate more serious issues with the company's financial reporting or other complications that are preventing it from completing the 10-K in the near term and may face additional consequences, such as not being eligible to use certain registration statements until the report is actually filed.

[Mist @optionomist]

➡️This also means that they would not be considered to have filed their 10-K on time, even if they did file within the 15-day period.

[Mist @optionomist]

@wendyranderson 8000