Home / Going-concern warnings / ENERGY FOCUS, INC/DE
Filed 2025-05-13 路 Form 10-Q 路 Accession 0001628280-25-024875 nano
Price before filing: $1.73 (2025-05-12 close, split/dividend-adjusted)
Market cap at flag: $9.3M (2025-05-13) 路 Latest: $16.5M (2026-10-16)
| Window | EFOI | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +8.1% | +3.6% | +4.5% | 2025-06-12 |
| 90 days | +11.6% | +9.4% | +2.2% | 2025-08-11 |
| 180 days | +35.8% | +17.6% | +18.3% | 2025-11-10 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 1 insider bought $200K (1 purchase)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-03-27 | Huang Chiao Chieh Chief Executive Officer, Director, 10% owner | Purchase | 103,627 | $1.93 | $200K | no | Form 4 |
| 2025-05-13: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-02-12 to 2025-06-12. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"Going Concern and Nasdaq Continued Listing Requirements Compliance Due to our financial performance as of March 31, 2025 and December 31, 2024, including net losses of $ 0.3 million for the three months ended March 31, 2025 and $ 1.6 million for the twelve months ended December 31, 2024, and total cash used in operating activities of $ 0.3 million for the three months ended March 31, 2025 and $ 1.3 million for the..."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2025-03-31)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
The week's most serious auditor changes, restatements, late filings and going-concern warnings, in plain English. Free. Unsubscribe anytime.
Subscribe to the newsletter →
The signup form didn't load here (often an ad or privacy blocker). This opens beehiiv's secure signup page.
Form not showing? Subscribe on beehiiv →
Newsletter delivered by beehiiv. See our privacy policy.