Annuncio • Mar 22
Accredited Solutions, Inc. (OTCPK:ASII) signed a letter of intent to acquire Everest Consolidator Acquisition Corporation (OTCPK:EVCO) in a reverse merger transaction. Accredited Solutions, Inc. (OTCPK:ASII) signed a letter of intent to acquire Everest Consolidator Acquisition Corporation (OTCPK:EVCO) in a reverse merger transaction on March 21, 2025. The business combination would result in ASII becoming a publicly traded company on Nasdaq. Under the terms of the LOI, ASII shareholders expected to own approximately 70% of the combined entity upon completion. The transaction will not require a reverse stock split of ASIIs common stock, as all currently issued and outstanding stock will be exchanged into EVCO stock once the merger is complete. The transaction is subject to customary approvals and conditions. Annuncio • Dec 01
NYSE to Commence Delisting Proceeding Against Everest Consolidator Acquisition The New York Stock Exchange announced that the staff of NYSE Regulation has determined to commence proceedings to delist the three securities: Class A common stock, par value $0.0001 per share; Units, each consisting of one share of Class A common stock and one-half of one Warrant and Warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share of Everest Consolidator Acquisition Corporation (the “Company”) from the Exchange. Trading in the Company’s Securities will be suspended immediately. NYSE Regulation reached its decision to delist the Company’s Securities pursuant to Sections 802.01B and 102.06e. of the NYSE’s Listed Company Manual because the Company failed to consummate a business combination within the shorter of (i) the time period specified by its constitutive documents or by contract or (ii) three years. The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the Company’s Securities upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision. Annuncio • Nov 16
Everest Consolidator Acquisition Corporation announced delayed 10-Q filing On 11/15/2024, Everest Consolidator Acquisition Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annuncio • Aug 15
Everest Consolidator Acquisition Corporation announced delayed 10-Q filing On 08/14/2024, Everest Consolidator Acquisition Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Board Change • Aug 15
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Chairman, President, CEO, Treasurer & Secretary Adam Dooley is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Annuncio • May 17
Everest Consolidator Acquisition Corporation announced delayed 10-Q filing On 05/15/2024, Everest Consolidator Acquisition Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annuncio • Apr 03
Everest Consolidator Acquisition Corporation announced delayed annual 10-K filing On 04/02/2024, Everest Consolidator Acquisition Corporation announced that they will be unable to file their next 10-K by the deadline required by the SEC. Annuncio • Mar 28
Everest Consolidator Acquisition Corporation announced that it has received $4 million in funding Everest Consolidator Acquisition Corporation announced that it has issued non convertible unsecured promissory note for gross proceeds of up to $4,000,000 on March 26, 2024. The transaction included participation from returning lender Everest Consolidator Sponsor, LLC. The note shall accrue interest at the flat rate of 6.0% for any outstanding principal up to $1,500,000 and at the flat rate of 18.0% for any further outstanding principal drawn down by maker thereafter Annuncio • Feb 15
Everest Consolidator Acquisition Corporation announced delayed amended 10-Q filing On 02/14/2024, Everest Consolidator Acquisition Corporation announced that they will be unable to file their amended 10-Q by the deadline required by the SEC. Board Change • Feb 15
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Chairman, President, CEO, Treasurer & Secretary Adam Dooley is the most experienced director on the board, commencing their role in 2021. Lead Independent Director Peter Scaturro was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Annuncio • Nov 29
Everest Consolidator Acquisition Corporation Receives NYSE Notice Regarding Delayed Form 10-Q Filing Everest Consolidator Acquisition Corporation (the “Company”) announced that on November 21, 2023 it received a notice (the “Notice”) from the New York Stock Exchange (the "NYSE") indicating that the Company is not in compliance with Section 802.01E of the NYSE Listed Company Manual (the “Listing Rule”) as a result of the Company’s failure to timely file its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023 (the "Form 10-Q") with the Securities and Exchange Commission (the "SEC"). The Notice has no immediate effect on the listing of the Company’s securities on the NYSE. The NYSE informed the Company that, under the NYSE's rules, the Company has six months from the original due date of the Form 10-Q, or until May 20, 2024, to file the Form 10-Q and regain compliance with the Listing Rule. The NYSE further noted that, if the Company fails to file the Form 10-Q, and any subsequent filings, within the six-month period, the NYSE may grant, in its sole discretion, an extension of up to six additional months for the Company to regain compliance, depending on the specific circumstances. The NYSE Notice also noted that the NYSE may nevertheless commence delisting proceedings at any time if it deems that the circumstances warrant. As previously reported by the Company in its Notification of Late Filing on Form 12b-25 filed with the SEC on November 15, 2023, the Company was unable to file the Form 10-Q within the prescribed period without unreasonable effort or expense because the Company required additional time to address the implications of its use of funds restricted for payment of the Company’s tax liabilities counter to the terms of the Trust Agreement as a result of internal resource constraints and to complete its procedures for finalizing the Form 10-Q. The Company is continuing its efforts to complete the Form 10-Q. The Company intends to file the Form 10-Q as soon as practicable to regain compliance with the Listing Rule. Annuncio • Nov 17
Everest Consolidator Acquisition Corporation announced delayed 10-Q filing On 11/15/2023, Everest Consolidator Acquisition Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. New Risk • Aug 17
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$2.9m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$2.9m free cash flow). Negative equity (-US$11m). Revenue is less than US$1m. Minor Risk Less than 3 years of financial data is available. Board Change • Aug 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Lead Independent Director Peter Scaturro was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • May 17
Everest Consolidator Acquisition Corporation announced delayed 10-Q filing On 05/16/2023, Everest Consolidator Acquisition Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Annuncio • Apr 01
Everest Consolidator Acquisition Corporation announced delayed annual 10-K filing On 03/31/2022, Everest Consolidator Acquisition Corporation announced that they will be unable to file their next 10-K by the deadline required by the SEC. 