Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB
14 Agosto 2024 - 3:16PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One): ☐ Form 10-K ☐
Form 20-F ☐ Form 11-K ☒ Form 10-Q ☐ Form 10-D ☐ Form N-CEN ☐ Form
N-CSR
For Period Ended: June 30, 2024
☐ Transition Report on Form 10-K
☐ Transition Report on Form 20-F
☐ Transition Report on Form 11-K
☐ Transition Report on Form 10-Q
For the Transition Period Ended: _____________________________________
Read Instructions (on back page) Before Preparing
Form. Please Print or Type.
NOTHING IN THIS FORM SHALL BE CONSTRUED TO IMPLY THAT
THE COMMISSION HAS VERIFIED ANY INFORMATION CONTAINED HEREIN.
If the notification relates to a portion of the filing
checked above, identify the Item(s) to which the notification relates:
PART I -- REGISTRANT INFORMATION
Full Name of Registrant |
Onconetix, Inc.
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Former Name if Applicable |
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Address
of Principal Executive Office (Street and Number) |
201 E. Fifth Street, Suite 1900
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City, State and Zip Code |
Cincinnati, Ohio 45202 |
PART II - RULES 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable
effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed (Check box if appropriate)
|
(a) |
The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense; |
☒ |
(b) |
The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and |
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(c) |
The accountant's statement or other exhibit required by Rule 12b-25(c) has been attached if applicable. |
PART III -- NARRATIVE
State below in reasonable
detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof, could not be filed within the
prescribed time period.
The Registrant is unable to file its Form
10-Q for the quarterly period ended June 30, 2024 within the prescribed time period without unreasonable effort or expense because additional
time is needed to finalize the financial statements to be included in such report. The Registrant anticipates that it will file its Form
10-Q within the five-day grace period provided by Rule 12b-25 of the Securities Exchange Act of 1934, as amended.
PART IV --OTHER INFORMATION
(1) Name and telephone number of person to contact
in regard to this notification
Karina M.
Fedasz |
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(513) |
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620-4101 |
(Name) |
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(Area Code) |
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(Telephone Number) |
(2) Have all other periodic reports required under
Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12
months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s).
(3) Is it anticipated that any significant change
in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included
in the subject report or portion thereof?
If so, attach an explanation of the anticipated change,
both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.
The following changes are anticipated to the Company’s
results of operations for the three months ended June 30, 2024 as compared to the corresponding period for the last fiscal year:
| · | Cash decreased from approximately $9.2 million
at June 30, 2023 to approximately $0.9 million at June 30, 2024. |
| · | Accounts receivable, net increased from $0 at
June 30, 2023 to approximately $0.2 million at June 30, 2024. |
| · | Receivable from related parties decreased from
approximately $0.3 million at June 30, 2023 to $0 at June 30, 2024. |
| · | Inventories decreased from approximately $1.2
million at June 30, 2023 to approximately $0.2 million at June 30, 2024. |
| · | Accounts payable increased from approximately
$2.1 million at June 30, 2023 to approximately $3.2 million at June 30, 2024. |
| · | Notes payable (current) increased from approximately
$8.6 million at June 30, 2023 to approximately $10.1 million at June 30, 2024. |
| · | Note payable – related party increased
from $0 at June 30, 2023 to approximately $4.9 million at June 30, 2024. |
| · | Subscription agreement liability – related
party (current) increased from $0 at June 30, 2023 to approximately $0.9 million at June 30, 2024. |
| · | Note payable (long-term) decreased from approximately
$4.5 million at June 30, 2023 to approximately $0.1 million at June 30, 2024. |
The amounts reported above are still under review
by the Registrant’s independent registered public accounting firm and accounting staff and may differ once reported in the Form
10-Q to be filed by the Registrant.
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Onconetix, Inc. |
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(Name of Registrant as Specified in Charter) |
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has caused this notification to be signed on its behalf
by the undersigned hereunto duly authorized.
Date: August 14, 2024 |
By: |
/s/ Karina M. Fedasz |
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Karina M. Fedasz |
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Interim Chief Financial Officer |
Onconetix (NASDAQ:ONCO)
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