Tuesday, May 17, 2022

Faraday Future Says It Won't Meet Quarterly Filing Date

Los Angeles-based electric car maker Faraday Future looks to be digging itself deeper into a hole with the Securities Exchange Commission (SEC), saying late Monday afternoon that it will be unable to file its 10-Q Quarterly Report for the period ended March 31, 2022 on time. The company said it does expect to file by May 23rd the extended filing date. The company said that, if it does not meet those dates, it expects to receive a new notice of non-compliance from the NASDAQ. Faraday Future said that if it "files the Q1 2022 Form 10-Q by the extended filing date, the Company believes there is no material risk of delisting." Faraday Future has very quickly run into trouble as a public company, having only reached the public markets via a SPAC acquisition in July of 2021.