Notification That Annual Report Will Be Submitted Late (nt 10-k)
03 Aprile 2023 - 2:21PM
Edgar (US Regulatory)
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SEC
File Number
001-38785 |
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CUSIP
Number
863685
103
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
12b-25
NOTIFICATION
OF LATE FILING
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(Check
One) |
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☒
Form 10-K ☐ Form 20-F ☐ Form 11-K ☐ Form 10-Q
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Form 10-D ☐ Form N-SAR ☐ Form N-CSR |
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For
Period Ended: December 31, 2022 |
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☐
Transition Report on Form 10-K |
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☐
Transition Report on Form 20-F |
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☐
Transition Report on Form 11-K |
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☐
Transition Report on Form 10-Q |
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☐
Transition Report on Form N-SAR |
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For
the Transition Period Ended: |
Read
Instruction (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.
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If
the notification related to a portion of the filing checked above, identify the Item(s) to which the notification relates:
PART
I — REGISTRANT INFORMATION
Stryve
Foods, Inc.
(Full
Name of Registrant)
N/A
(Former
Name if Applicable)
5801
Tennyson Parkway, Suite 275
(Address
of Principal Executive Office (Street and Number))
Plano,
TX 75024
(City,
State and Zip Code)
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)
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(a) |
The
reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense; |
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(b) |
The
subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR 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-SAR, N-CSR, or the transition report or portion thereof, could not
be filed within the prescribed time period.
Stryve
Foods, Inc. (the “Company”) is filing this Notification of Late Filing on Form 12b-25 with respect to its Form 10-K for the
year ended December 31, 2022 (the “Form 10-K”). The compilation, dissemination and review of the information required to
be presented in the Form 10-K has imposed time constraints as a result of the Company’s recent accounting staff turnover and staff
availability that have rendered timely filing of the Form 10-K impracticable without undue hardship and expense. The Company undertakes
the responsibility to file such report no later than fifteen days after its original prescribed due date.
PART
IV — OTHER INFORMATION
(1) |
Name
and telephone number of person to contact in regard to this notification |
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R.
Alex Hawkins |
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972 |
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528-0296 |
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(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). ☒ Yes ☐ No |
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(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? ☒ Yes ☐ No |
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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. |
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For
the three months ended December 31, 2022, the Company expects to incur an operating loss of approximately $4.3 million and used cash
in operations of approximately $3.1 million as compared to an operating loss of $11.5 million and used cash in operations of $10.6
million during the year ended December 31, 2021. As of December 31, 2022, the Company had working capital of approximately $5.8 million
as compared to $3.2 million of working capital as of December 31, 2021, and had approximately $5.7 million of indebtedness as of
December 31, 2022. Until the Company can generate positive cash flow from operations, the Company is required to finance its operations
and growth through external sources which may include equity offerings, debt financings or other financing transactions. There can
be no assurance that the Company will be successful in raising additional capital or that such capital, if available, will be on
terms that are acceptable. |
STRYVE
FOODS, INC.
(Name
of Registrant as Specified in Charter)
has
caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.
Date:
April 3, 2023 |
By |
/s/
R. Alex Hawkins |
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R.
Alex Hawkins |
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Chief
Financial Officer |
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