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    SEC Form NT 10-K filed by Beam Global

    3/31/25 4:02:29 PM ET
    $BEEM
    Semiconductors
    Technology
    Get the next $BEEM alert in real time by email
    NT 10-K 1 beam_ext.htm REQUEST FOR EXTENSION

     

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    WASHINGTON D.C. 20549

     

    FORM 12b-25

    NOTIFICATION OF LATE FILING

     

     

    (Check One) ☒ Form 10-K        ☐ Form 20-F       ☐ Form 11-K       ☐ Form 10-Q       ☐ Form 10-D       ☐ Form N-CEN        ☐ Form N-CSR

     

    For Period Ended: December 31, 2024

     

    ☐ Transition Report on Form 10-K

    ☐ Transition Report on Form 20-F

    ☐ Transition Report on Form 11-K

    ☐ Transition Report on Form 10-Q

     

    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.

     

     

    If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:

     

     

    PART I - REGISTRANT INFORMATION

     

    Beam Global


    Full Name of Registrant:

     

     


    Former Name if Applicable

     

    5660 Eastgate Drive


    Address of Principal Executive Office (Street and Number)

     

    San Diego, CA 92121


    City, State, 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)

     

      (a) The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
         
    ☒ (b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, 11-K or Form N-CEN 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 of 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
         
      (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 the reasons why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof could not be filed within the prescribed time period.

     

    Beam Global (the “Company”) is unable to timely file with the Securities and Exchange Commission (the “Commission”) its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, because the compilation, dissemination, review and finalization of the information required to be presented in the report could not be completed within the prescribed time period without unreasonable effort or expense.

     

    The Company expects to file the Form 10-K within the fifteen-calendar day grace period, as provided by Rule 12b-25 of the Securities Exchange Act of 1934.

     

     

     

     

     

     

     2 

     

     

    PART IV - OTHER INFORMATION

     

    (1) Name and telephone number of person to contact in regard to this notification:

     

    Lisa A. Potok   858   799-4583
    (Name)   (Area Code)   (Telephone No.)

     

    (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 the answer is no, identify report(s).
       
      ☒ Yes ☐ No
       
    (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

     

    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.

     

    The Company expects to report that for the period ending December 31, 2024 (i) its margins increased 13 percentage points higher than prior year to 14.8% (ii) its revenues of $49.3 million and were derived from non-government commercial entities increased by 229% from 2023 to 2024 (iii) its net cash used in operating activities was $2.2 million for the period ending December 31, 2024 compared to $13.3 million for the same period ending 2023 iv) it has cash of $4.6 million at December 31, 2024, compared to cash of $10.4 million at December 31, 2023. The amounts reported above are still under review by the Company and may differ once reported in the Annual Report on Form 10-K to be filed by the Company.

     

    This Notification of Late Filing on Form 12b-25 contains forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act, and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements only speak as of the date of this notice and we assume no obligation to update the information included in this notice. Such forward-looking statements include information concerning our possible or assumed future results of operations. These statements often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are not guarantees of performance or results and they involve risks, uncertainties and assumptions. Although we believe that these forward-looking statements are based on reasonable assumptions, there are many factors that could affect our actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements.  

     

     

     

     3 

     

     

    Beam Global


    (Name of Registrant as Specified in Charter)

     

    has caused this notification to be signed on its behalf by the undersigned thereunto duly authorized.

     

     

    Date: March 31, 2025 By:

    /s/ Lisa A. Potok

      Name: Lisa A. Potok
      Title: Chief Financial Officer

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     4 

     

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