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Vuzix quarterly report delay ?3

18:45 27-Mar-24


Vuzix has cancelled its quarterly report scheduled for tomorrow and is seeking the standard a 15 day extension on its 10-K annual filing "due to the expanded nature of the audit for 2023 regarding certain transactions".  Management believes the 15 days will be sufficient and plans to announce a new earnings call date within that time period.  We already know that revenue will be disappointing.

I suspect that the transactions in question have to do with Atomistic, but the partnership with Quanta is also possible.  For that matter, I've been seeing lots of 10-K/A filings lately, so it could be that some new SEC or IRS regulation is just causing additional overhead and thus delays.  VUZI has begun to sink in after hours trading as I wrote this, but that's after rebounding 6% from a post-pandemic low of $1.25 to $1.33 today.  I chalk the regular trading bounce up to a small redux in swarm trading; VUZI has all the characteristics with almost 17% of float shorted as of mid-March, and 14% rebate rate.  That of course means there's no still way I'd take any position in the stock, but I will give the report a little more attention than I otherwise would have, just out of curiosity.