Home / Going-concern warnings / Vulcan Infrastructure & Power Inc.
Filed 2025-05-15 路 Form 10-Q 路 Accession 0001628280-25-026016 nano
Price before filing: n/a (n/a close, split/dividend-adjusted)
Market cap at flag: n/a 路 Latest: $22.3M (2026-10-16)
| Window | VIP | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | n/a | n/a | n/a | |
| 90 days | n/a | n/a | n/a | |
| 180 days | n/a | n/a | n/a |
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: 3 insiders sold $63K (13 sales); 1 insider bought $104K (2 purchases)
30 days after: 3 insiders sold $17K (5 sales); 3 insiders bought $204K (5 purchases)
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2025-03-14 | Mulvihill Christian Chief Financial Officer | Sale | 738 | $0.77 | $568 | no | Form 4 |
| 2025-03-27 | Kovler Jordan Chief Executive Officer, Director | Sale | 9,113 | $0.80 | $7K | no | Form 4 |
| 2025-03-27 | Kovler Jordan Chief Executive Officer, Director | Sale | 9,100 | $0.80 | $7K | no | Form 4 |
| 2025-03-27 | Kovler Jordan Chief Executive Officer, Director | Sale | 1,682 | $0.85 | $1K | no | Form 4 |
| 2025-03-27 | Kovler Jordan Chief Executive Officer, Director | Sale | 9,000 | $0.80 | $7K | no | Form 4 |
| 2025-03-27 | Mulvihill Christian Chief Financial Officer | Sale | 22,945 | $0.80 | $18K | no | Form 4 |
| 2025-03-27 | Mulvihill Christian Chief Financial Officer | Sale | 1,408 | $0.80 | $1K | no | Form 4 |
| 2025-03-28 | Irwin Dale President | Sale | 1,144 | $0.80 | $915 | no | Form 4 |
| 2025-03-28 | Irwin Dale President | Sale | 13 | $0.80 | $10 | no | Form 4 |
| 2025-03-28 | Irwin Dale President | Sale | 100 | $0.81 | $81 | no | Form 4 |
| 2025-03-28 | Irwin Dale President | Sale | 22,297 | $0.81 | $18K | no | Form 4 |
| 2025-04-14 | Mulvihill Christian Chief Financial Officer | Sale | 618 | $0.65 | $402 | no | Form 4 |
| 2025-04-23 | Krug Christopher J. Director | Purchase | 70,000 | $0.83 | $58K | no | Form 4/A |
| 2025-04-24 | Krug Christopher J. Director | Purchase | 55,000 | $0.83 | $46K | no | Form 4/A |
| 2025-05-13 | Mulvihill Christian Chief Financial Officer | Sale | 618 | $1.12 | $692 | no | Form 4 |
| 2025-05-15: red flag filed | |||||||
| 2025-05-19 | Kovler Jordan Chief Executive Officer, Director | Purchase | 10,000 | $1.11 | $11K | no | Form 4 |
| 2025-05-20 | Kovler Jordan Chief Executive Officer, Director | Purchase | 5,000 | $1.30 | $6K | no | Form 4 |
| 2025-05-20 | Krug Christopher J. Director | Purchase | 125,000 | $1.32 | $165K | no | Form 4 |
| 2025-05-20 | Mulvihill Christian Chief Financial Officer | Purchase | 10,000 | $1.35 | $13K | no | Form 4 |
| 2025-05-21 | Irwin Dale President | Sale | 4,681 | $1.30 | $6K | no | Form 4 |
| 2025-05-21 | Kovler Jordan Chief Executive Officer, Director | Sale | 3,133 | $1.30 | $4K | no | Form 4 |
| 2025-05-21 | Mulvihill Christian Chief Financial Officer | Sale | 4,596 | $1.30 | $6K | no | Form 4 |
| 2025-05-23 | Kovler Jordan Chief Executive Officer, Director | Purchase | 5,000 | $1.56 | $8K | no | Form 4 |
| 2025-06-13 | Mulvihill Christian Chief Financial Officer | Sale | 14 | $1.47 | $21 | no | Form 4 |
| 2025-06-13 | Mulvihill Christian Chief Financial Officer | Sale | 613 | $1.45 | $889 | no | Form 4 |
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2025-02-14 to 2025-06-14. 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.
"The existence of these factors beginning in 2022 raised substantial doubt about the Company's ability to continue as a going concern."
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.
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