Tattooed Chef receives noncompliance letter from Nasdaq

Tattooed Chef announced that it received a letter on March 31 from Nasdaq informing the company that it was not in compliance with Nasdaq Listing Rule 5250, which requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission, due to the company’s failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2022. The notification letter has no immediate effect on the listing or trading of the company’s common stock on the Nasdaq Capital Market. The company filed a Notification of Late Filing on Form 12b-25 on March 17, 2023, indicating that the filing of the Form 10-K would be delayed since the company implemented a new enterprise resource planning system at one of the company’s major subsidiaries, New Mexico Food Distributors and the company’s accounting department had been fully occupied with restating its unaudited condensed consolidated financial statements for quarters ended March 31, 2022 and June 30, 2022, and its audited annual consolidated financial statements for the year ended December 31, 2021.