- Above Food Ingredients Inc. (ABVE, Financial) to file interim financial statements on April 28, 2025, ensuring Nasdaq compliance.
- The company has eliminated most corporate debt and achieved operational profitability through strategic acquisitions.
- ABVE must address its stock price trading below $1 per share by May 22, 2025, to maintain its Nasdaq listing.
Regina, Saskatchewan – Above Food Ingredients Inc. (NASDAQ: ABVE) has announced plans to file its interim financial statements for the period ending July 31, 2024, on April 28, 2025. This filing is a critical step toward meeting Nasdaq compliance requirements ahead of the upcoming hearing scheduled for May 22, 2025.
The company has undergone significant transformation, including the strategic disposal of discontinued operations in March 2025 and the acquisition of The Redwood Group in August 2024. The Redwood Group acquisition has exceeded performance expectations, contributing positively to Above Food's profitability. Additionally, the recent acquisition of Palm Global Technologies is anticipated to enhance Above Food’s current revenue run-rate of approximately CAD $200 million.
Above Food's strategic restructuring has successfully eliminated most of its corporate debt, transitioning continuing operations to profitability. Despite these positive developments, the company is still grappling with a critical compliance issue: its stock price remains below $1 per share, risking delisting from Nasdaq. The company has stated its intent to resolve this issue before the May hearing.
These moves are part of Above Food's broader strategy to pivot towards high-margin sectors, such as Agri-Tech and Fin-Tech. While the company's strategic acquisitions hold the promise of strengthening its financial performance, overcoming the Nasdaq listing requirement remains an immediate priority.
