The repeat late filing pattern (NT 10-K followed by NT 10-Q) raises the risk of a restatement or auditor change. Monitor for the actual 10-Q filing and any subsequent 8-K disclosures regarding auditor status or material weaknesses.
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Executive Summary
UPAY filed a late notification (NT 10-Q) for its quarterly report for the period ended August 31, 2026, citing that its auditor has not completed the review of financial statements. This is a repeat late filing following a prior NT 10-K for the fiscal year ended February 28, 2026, filed in May 2026, indicating chronic accounting and reporting delays. The company does not anticipate any significant change in results of operations from the prior year period.
Key Facts
- NT 10-Q filed on October 15, 2026 for the quarterly period ended August 31, 2026
- Reason: auditor has not completed review of financial statements and the 10-Q report
- Repeat late filing — prior NT 10-K filed May 29, 2026 for the fiscal year ended February 28, 2026
- Company states no anticipated significant change in results of operations from prior year
- Contact person: Jaco Folscher, CEO/CFO
Financial Impact
No specific financial figures disclosed; the delay itself signals potential accounting issues that could affect reported results.
Risk Factors
- Chronic late filings may lead to SEC enforcement action or delisting risk
- Potential restatement or material weakness in internal controls
- Auditor could resign if delays persist, triggering a going-concern or liquidity crisis
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| NT 10-Q Filing (Primary) | 0001575872-26-000703 |
| Document: 0001575872-26-000703-index-headers.html | 0001575872-26-000703 |
| Document: 0001575872-26-000703-index.html | 0001575872-26-000703 |
| Document: 0001575872-26-000703.txt | 0001575872-26-000703 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 11d ago | NT 10-Q | $0.9000 $0.9000 | · 0.00% | ▼ −1.01% | $0.9000 (+0.00%) |
Jul 2, 2026 16w ago | 8-K | $0.9000 $0.9000 | · 0.00% | ▼ −1.37% | $0.9000 (−0.00%) |
US Market Status
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