お知らせ • Mar 08
Polished.com Inc. Filed for Bankruptcy Polished.com Inc., along with its seven affiliates, filed a voluntary petition for liquidation under Chapter 7 in the US Bankruptcy Court for the District of Delaware on March 7, 2024. The debtor listed its assets of $46.97 million and liabilities of $330.54 million. The debtor is represented by Scott D. Cousins of Lewis Brisbois Bisgaard & Smith LLP as its legal counsel. お知らせ • Mar 07
Polished.com Inc.(OTCPK:POLC) dropped from S&P TMI Index Polished.com Inc.(OTCPK:POLC) dropped from S&P TMI Index お知らせ • Feb 14
Polished.com Inc. Lowers Earnings Guidance for the Fiscal Year 2023 Polished.com Inc. lowered earnings guidance for the fiscal year 2023. The company now expects net sales between $315 million and $325 million as compared to previous guidance of $330 million and $350 million. お知らせ • Jan 06
Polished.com Inc., Annual General Meeting, Jan 30, 2024 Polished.com Inc., Annual General Meeting, Jan 30, 2024. お知らせ • Dec 09
Alan P. Shor Notifies Polished.com Inc. That He Would Not Stand for Re-Election as a Director On December 6, 2023, Alan P. Shor notified Polished.com (the “Company”) that he would not stand for re-election as a director at the Company’s 2023 Annual Meeting of Stockholders (the “Annual Meeting”). Mr. Shor advised the Company that his decision was not the result of any disagreement with the Company. On December 6, 2023, the Company’s board of directors resolved to (i) reduce the authorized number of directors of the Company from nine to eight, effective immediately prior to the Annual Meeting and (ii) nominate Ellery W. Roberts, Ellette A. Anderson, Clark R. Crosnoe, Glyn C. Milburn, G. Alan Shaw, Edward J. Tobin, James M. Schneider and Houman Akhavan for election as directors at the Annual Meeting. お知らせ • Nov 21
Polished.com Inc. Provides Sales Guidance for the Year 2023 Polished.com Inc. provided sales guidance for the year 2023. For the year, the company expected net sales between $330 million and $350 million. お知らせ • Nov 17
Polished.com Inc. announced delayed 10-Q filing On 11/15/2023, Polished.com Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. お知らせ • Nov 07
Polished.com Inc. to Report Q3, 2023 Results on Nov 14, 2023 Polished.com Inc. announced that they will report Q3, 2023 results After-Market on Nov 14, 2023 お知らせ • Oct 20
Polished.com Approves 1-for-50 Reverse Stock Split to Regain Compliance with the Minimum Closing Price Required to Maintain Continued Listing on the NYSE American Polished.com Inc. announced that the board of directors and stockholders of the company approved a 1-for-50 reverse stock split (the ‘Reverse Stock Split’) of its outstanding shares of common stock (the ‘Common Stock’) that will become effective at 12:01 a.m. ET on October 20, 2023. The Company’s Common Stock will continue to trade on the NYSE American under the existing symbol ‘POL.’ The Reverse Stock Split was approved by the Company’s stockholders at the Special Meeting of Stockholders (the ‘Special Meeting’) on October 19, 2023. As a result of the Reverse Stock Split, every 50 shares of Common Stock issued and outstanding will be automatically combined into one share of Common Stock. The Reverse Stock Split will proportionately reduce the number of outstanding shares of Common Stock from approximately 105.5 million shares to approximately 2.1 million shares and the ownership percentage of each stockholder will remain unchanged other than as a result of fractional shares. The Company will pay cash for fractional shares. The Reverse Stock Split is part of the Company’s plan to regain compliance with the $0.20 per share minimum closing price required to maintain continued listing on the NYSE American. お知らせ • Sep 17
Polished.com Inc. Receives a Deficiency Letter from the NYSE American LLC On September 13, 2023, Polished.com Inc. received a deficiency letter from the NYSE American LLC indicating that the Company is not in compliance with the NYSE American continued listing standard set forth in Section 1003(f)(v) of the NYSE American Company Guide because its shares of common stock, par value $0.0001 per share, have been selling at a low price per share for a substantial period of time. Pursuant to Section 1003(f)(v) of the NYSE American Company Guide, the NYSE American staff determined that the Company’s continued listing is predicated on it effecting a reverse stock split of the Common Stock or otherwise demonstrating sustained price improvement within a reasonable period of time, which the NYSE American staff determined to be no later than March 13, 2024. As required, the Company has notified the NYSE American of its intent to cure the listing standard deficiency and restore its compliance with the NYSE American continued listing standards. The Company intends to consider all available options to cure the deficiency and restore compliance, including, if there has not been sustained price improvement in the Common Stock, carrying out a reverse stock split (subject to stockholder approval at a special meeting of stockholders). The Deficiency Letter has no immediate impact on the listing of the Common Stock, which will continue to be listed and traded on the NYSE American during this period, subject to the Company’s compliance with the other listing requirements of the NYSE American; however, the NYSE American can take accelerated delisting action in the event that the Common Stock trades at levels viewed to be abnormally low. The Common Stock will continue to trade under the symbol “POL”, but will have an added designation of “.BC” to indicate the status of the Common Stock as “below compliance”. The Deficiency Letter does not affect the Company’s ongoing business operations or its reporting requirements with the Securities and Exchange Commission. If the Common Stock ultimately were to be delisted for any reason, it could negatively impact the Company by (i) reducing the liquidity and market price of the Common Stock; (ii) reducing the number of investors willing to hold or acquire the Common Stock, which could negatively impact the Company’s ability to raise equity financing; (iii) limiting the Company’s ability to use a registration statement to offer and sell freely tradable securities, thereby preventing the Company from accessing the public capital markets; and (iv) impairing the Company’s ability to provide equity incentives to its employees. Reported Earnings • Aug 15
Second quarter 2023 earnings released: EPS: US$0.01 (vs US$0.041 loss in 2Q 2022) Second quarter 2023 results: EPS: US$0.01 (up from US$0.041 loss in 2Q 2022). Revenue: US$87.8m (down 37% from 2Q 2022). Net income: US$1.00m (up US$5.30m from 2Q 2022). Profit margin: 1.1% (up from net loss in 2Q 2022). お知らせ • Dec 20
Polished.com Inc., Annual General Meeting, Jan 19, 2023 Polished.com Inc., Annual General Meeting, Jan 19, 2023, at 11:00 US Eastern Standard Time. Agenda: To elect the nine nominees identified in the accompanying Proxy Statement to serve as directors on the Board of Directors for the ensuing year; to approve an amendment of amended and restated certificate of incorporation to increase the number of shares of common stock that we are authorized to issue from 200,000,000 shares to 250,000,000 shares; and to transact such other business as may properly come before the Annual Meeting or any adjournment or postponement thereof.