Filing Analysis
NextPlat Corp has filed an 8-K to announce its financial results for the quarterly period ended June 30, 2026. The filing serves as a formal announcement of the earnings release via Exhibit 99.1.
📋 Key Facts
- Report date: August 13, 2026
- Reporting period: Quarter ended June 30, 2026
- The company issued a press release containing financial results (Exhibit 99.1)
- CEO and President David Phipps signed the filing.
NextPlat Corp, through its subsidiary Progressive Care, LLC, has entered into an agreement to acquire 100% of the membership interests in Scott’s Pharmacy, LLC for $1.5 million in cash.
🚩 Red Flags
- Small acquisition size relative to typical micro-cap scale, though specific cash position is not disclosed in this filing.
📋 Key Facts
- Acquisition target: Scott’s Pharmacy, LLC (a community pharmacy in Molino, Florida).
- Purchase price: $1,500,000 in cash, subject to post-signing inventory adjustments.
- Escrow terms: $50,000 initial deposit; $50,000 held back for indemnification for 18 months post-closing.
- Closing timeline: Targeted by September 30, 2026 (extendable to October 31, 2026).
- Noncompetition: Seller must enter a three-year non-compete agreement covering Escambia County, Florida.
NextPlat Corp held its 2026 Annual Meeting on June 24, 2026. Stockholders approved the election of six directors, the appointment of RBSM LLP as independent auditors, and executive compensation packages.
📋 Key Facts
- Annual Meeting held on June 24, 2026.
- Total shares voted: 1,685,403 (approx. 62.23% of 2,708,507 outstanding shares).
- All six director nominees were elected to serve until the next annual meeting.
- RBSM LLP was ratified as the independent registered public accounting firm for the fiscal year ending Dec 31, 2026.
- Advisory vote on named executive officer compensation was approved.
NextPlat Corp announced its financial results for the first quarter ended March 31, 2026, via a press release furnished under Item 2.02.
📋 Key Facts
- The filing reports financial results for the quarter ended March 31, 2026.
- The announcement was made via press release on May 14, 2026.
- The information is furnished under Item 2.02 and included as Exhibit 99.1.
NextPlat Corp issued a press release on April 29, 2026, providing preliminary financial expectations and operational updates for the first quarter ended March 31, 2026.
📋 Key Facts
- The filing discloses preliminary financial results for the quarter ended March 31, 2026.
- The information was furnished under Item 7.01 Regulation FD Disclosure.
- The report includes an earnings press release as Exhibit 99.1.
- The disclosure is intended to provide operational updates to the market ahead of formal quarterly filings.
NextPlat Corp has regained compliance with Nasdaq's $1.00 minimum bid price requirement as of April 27, 2026. This concludes a year-long deficiency period that began in April 2025 and included a second 180-day grace period.
🚩 Red Flags
- The company remained non-compliant with the minimum bid price requirement for a full year (two 180-day grace periods)
📋 Key Facts
- Received initial Nasdaq deficiency notice on April 28, 2025, for closing below $1.00 for 30 consecutive trading days
- Granted a second 180-day grace period on October 28, 2025, to regain compliance
- Nasdaq confirmed compliance on April 27, 2026, and closed the matter
- The company maintains its listing on The Nasdaq Global Market
NextPlat Corp has announced a 1-for-10 reverse stock split effective April 13, 2026, which will reduce outstanding shares from approximately 26.9 million to 2.7 million. The company is maintaining its authorized share count at 50 million, which significantly increases the capacity for future equity dilution.
🚩 Red Flags
- Reverse stock split is a common defensive measure to maintain Nasdaq minimum bid price requirements
- Authorized shares were not reduced in proportion to the split, creating a massive gap between outstanding (2.7M) and authorized (50M) shares, facilitating future dilution
- Substantial net losses of $11.7M in 2025 and $13.4M in 2024
📋 Key Facts
- Reverse stock split ratio of 1-for-10 effective April 13, 2026
- Outstanding common shares will be reduced from approximately 26.9 million to approximately 2.7 million
- Authorized shares of common stock will remain at 50 million
- Company reported a net loss of $11.71 million for the year ended December 31, 2025
- New CUSIP number for post-split common stock is 68557F308
- No fractional shares will be issued; stockholders will receive cash in lieu of fractions
NextPlat Corp issued a press release on March 31, 2026, announcing its financial results for the fiscal year ended December 31, 2025.
📋 Key Facts
- The filing reports results of operations and financial condition for the fiscal year ended December 31, 2025.
- The press release was issued on March 31, 2026.
- The information is furnished under Item 2.02 and is not deemed 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934.
NextPlat Corp stockholders approved a reverse stock split proposal at a special meeting on March 27, 2026. Following the approval, the Board of Directors authorized a 1-for-10 reverse split of the company's common stock, expected to become effective on April 6, 2026.
🚩 Red Flags
- Implementation of a reverse stock split, which is typically a defensive measure to maintain Nasdaq listing requirements due to a low share price.
- The 1-for-10 ratio represents a significant consolidation of equity.
📋 Key Facts
- Stockholders approved a proposal allowing the Board to implement one or more reverse splits at a ratio between 1-for-5 and 1-for-50.
- The Board of Directors specifically selected a 1-for-10 reverse stock split ratio.
- The reverse split is expected to take effect on or about April 6, 2026.
- A new CUSIP number (68557F308) has been assigned for the common stock post-split.
- The vote saw participation from 15,510,728 shares, representing 57.5% of the 26,976,215 shares outstanding as of the March 16, 2026 record date.
NextPlat Corp filed an 8-K/A to formally detail the employment agreement for Amanda L. Ferrio, who was appointed as Chief Financial Officer effective January 9, 2026.
📋 Key Facts
- Amanda L. Ferrio appointed as CFO for an initial three-year term starting Jan 9, 2026.
- Base salary set at $225,000 per year with a monthly auto allowance of $650.
- Termination without cause or resignation for good reason entitles the CFO to six months of base salary and COBRA premiums.
- Agreement includes customary non-compete, non-solicitation, and confidentiality provisions.
NextPlat Corp entered into a three-year consulting agreement with Barreto Group, Inc., a firm owned and controlled by the Company's Chairman of the Board, Rodney Barreto. The agreement provides for annual consulting fees of $52,000 plus expense reimbursements.
🚩 Red Flags
- Related-party transaction involving the Chairman of the Board.
- Potential for conflict of interest regarding strategic transactions (M&A/licensing) where the consultant is an insider.
📋 Key Facts
- Agreement effective date: December 1, 2025.
- Counterparty: Barreto Group, Inc., owned/controlled by Chairman Rodney Barreto.
- Term: Initial three-year term with automatic one-year renewals.
- Compensation: $52,000 annual consulting fee plus reimbursement of reasonable business expenses.
- Scope: Business development and strategic consulting (M&A, licensing, new contracts).
- Approval: Approved by a majority of disinterested members of the Board, including a majority of independent directors.
NextPlat Corp announced its financial results for the quarter ended September 30, 2025. The filing is a standard announcement of quarterly earnings via press release.
📋 Key Facts
- Report date: November 13, 2025
- Reporting period: Quarter ended September 30, 2025
- The company issued a press release (Exhibit 99.1) containing the financial results.
- Ticker symbols: NXPL (Common Stock) and NXPLW (Warrants).
NextPlat Corp has been granted a second 180-day grace period by Nasdaq to regain compliance with the minimum bid price requirement. The company intends to cure the deficiency, potentially through a reverse stock split, by April 27, 2026.
🚩 Red Flags
- Delisting notice/Non-compliance with Nasdaq minimum bid price requirement.
- Potential for a reverse stock split to artificially inflate share price.
- History of non-compliance (first grace period expired October 27, 2025).
📋 Key Facts
- Company failed to meet the $1.00 minimum bid price requirement for 30 consecutive trading days.
- Nasdaq granted a second 180-day compliance period effective from October 28, 2025, until April 27, 2026.
- The company has notified Nasdaq of its intention to cure the deficiency via a reverse stock split if necessary.
- Compliance can be achieved if the closing bid price is at least $1.00 for 10-20 consecutive business days.
NextPlat Corp announced a leadership change in its finance department, with CFO Cecile Munnik stepping down and Amanda L. Ferrio being appointed as the new CFO effective October 13, 2025.
🚩 Red Flags
- Sudden departure of a CFO can sometimes signal internal disagreements or financial reporting issues, though the transitional period mitigates immediate risk.
📋 Key Facts
- CFO Cecile Munnik is stepping down; she will remain through the filing of the Q3 2025 quarterly report (period ended Sept 30, 2025).
- Amanda L. Ferrio appointed as CFO effective October 13, 2025.
- Ferrio previously served as VP of Accounting & Finance at Progressive Care LLC (a subsidiary) since 2022.
- Ferrio's new annual base salary is set at $225,000.
- The appointment was approved by the Board of Directors and Compensation Committee.
NextPlat Corp filed an amendment to its previous 8-K to disclose updated compensation terms for newly appointed CEO David Phipps. The update includes a salary increase and a significant equity grant.
🚩 Red Flags
- Immediate vesting of 200,000 shares upon grant can be viewed as highly aggressive compensation for a micro-cap company.
- Significant dilution potential from the immediate issuance/vesting of common stock.
📋 Key Facts
- David Phipps was appointed CEO on September 3, 2025.
- Annual base salary increased to $450,000 as of September 24, 2025.
- One-time grant of 200,000 shares of common stock under the 2021 Incentive Plan.
- The 200,000 shares fully vested on the grant date (September 24, 2025).
- Amendment No. 1 to Employment Agreement was executed on September 24, 2025.
NextPlat Corp has transitioned from interim to permanent leadership following the passing of its previous CEO. Rodney Barreto is appointed as Chairman and David Phipps is appointed as Chief Executive Officer.
🚩 Red Flags
- Leadership vacuum/instability caused by the death of the previous Executive Chairman and CEO in May 2025.
📋 Key Facts
- Rodney Barreto appointed as Chairman of the Board on September 3, 2025 (previously Interim Chairman).
- David Phipps appointed as Chief Executive Officer on September 3, 2025 (previously Interim CEO).
- The leadership changes follow the passing of former Executive Chairman and CEO Charles M. Fernandez in May 2025.
- No changes were made to David Phipps's existing employment agreement in connection with his permanent appointment.
NextPlat Corp announced its financial results for the quarter ended June 30, 2025. The filing serves as a formal announcement of earnings via an attached press release.
📋 Key Facts
- Reporting period: Quarter ended June 30, 2025
- Filing date: August 14, 2025
- The company issued a press release (Exhibit 99.1) containing the financial results.
- Interim CEO David Phipps signed the report.
NextPlat Corp held its 2025 Annual Meeting of stockholders on June 25, 2025. The company successfully elected seven directors and ratified the appointment of RBSM LLP as its independent auditor.
🚩 Red Flags
- Interim CEO status suggests potential leadership instability or transition period.
📋 Key Facts
- Annual Meeting held on June 25, 2025.
- Quorum reached with 14,156,982 shares voted (approx. 54.53% of outstanding shares).
- All seven director nominees were elected to the Board.
- RBSM LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2025.
- Advisory vote on executive compensation (Say-on-Pay) was approved.
- David Phipps serves as Interim Chief Executive Officer.
NextPlat Corp announced the passing of its Executive Chairman and CEO, Charles M. Fernandez, on May 24, 2025. David Phipps has been appointed as Interim CEO to lead the company through this transition.
🚩 Red Flags
- Sudden loss of top leadership (CEO/Chairman) due to death creates immediate management vacuum and uncertainty.
- Interim appointment suggests a period of transition rather than permanent stability.
📋 Key Facts
- Charles M. Fernandez (Executive Chairman and CEO) passed away on May 24, 2025.
- David Phipps appointed as Interim Chief Executive Officer effective immediately.
- Mr. Phipps is currently the President and CEO of Global Operations and a Director.
- Mr. Phipps previously served as Company CEO and Chairman from 2015 to 2021.
NextPlat Corp announced the sudden passing of its Executive Chairman and CEO, Charles M. Fernandez, on May 24, 2025. The Board has appointed Rodney Barreto as Interim Chairman and David Phipps as Interim CEO to manage the leadership transition.
🚩 Red Flags
- Sudden loss of key leadership (CEO/Executive Chairman) creates immediate operational and strategic uncertainty.
- Interim appointments suggest a lack of permanent succession planning for the top executive role.
📋 Key Facts
- Charles M. Fernandez (Executive Chairman and CEO) passed away on May 24, 2025.
- Rodney Barreto appointed as Interim Chairman.
- David Phipps appointed as Interim Chief Executive Officer.
- The company is listed on the Nasdaq Stock Market under ticker NXPL.
NextPlat Corp announced its financial results for the fiscal quarter ended March 31, 2025. The filing serves as a formal announcement of quarterly earnings via an attached press release.
📋 Key Facts
- Reporting period: Quarter ended March 31, 2025
- Filing date: May 15, 2025
- The company furnished results through a press release (Exhibit 99.1)
- Ticker symbols involved are NXPL (Common Stock) and NXPLW (Warrants)
NextPlat Corp received a notice from Nasdaq stating the company's common stock fell below the $1.00 minimum bid price requirement for 30 consecutive business days. The company has a compliance period until October 27, 2025, to regain compliance.
🚩 Red Flags
- Delisting notice from Nasdaq
- Failure to maintain minimum bid price requirement ($1.00)
- Potential for a mandatory reverse stock split to regain compliance
- Risk of delisting if compliance is not met by October 27, 2025
📋 Key Facts
- Received Nasdaq notice on April 28, 2025, regarding violation of Nasdaq Listing Rule 5550(a)(2).
- The minimum closing bid price was below $1.00 for 30 consecutive business days.
- Compliance period granted until October 27, 2025 (180 calendar days).
- To regain compliance during the Compliance Period, stock must close at or above $1.00 for 10 consecutive business days.
- The company explicitly mentions a reverse stock split as a potential method to cure the deficiency.
NextPlat Corp announced the immediate resignation of director Jervis Hough on April 24, 2025. The company stated that the resignation was to pursue other interests and did not involve any disputes with the Company.
📋 Key Facts
- Director Jervis Hough resigned effective April 24, 2025.
- The resignation is reportedly for personal reasons ('to pursue other interests').
- The company explicitly stated there was no dispute with the Company regarding this departure.
NextPlat Corp announced a strategic pause of certain e-Commerce initiatives due to escalating US-China tariffs. The company specifically cited the suspension of its 'Florida Sunshine' vitamin line in China because increased import costs would render them uncompetitive against local products.
🚩 Red Flags
- Direct admission of 'immediate adverse impact' on business, financial prospects, and results of operations.
- Material impairment of a key growth initiative (e-Commerce program) due to geopolitical factors.
- Explicit warning that the company may struggle to remain profitable under current trade conditions.
📋 Key Facts
- Company is pausing certain e-Commerce development program initiatives launched in April 2023.
- The 'Florida Sunshine' brand vitamins and supplements line will not be introduced to the Chinese market due to tariff impacts.
- Management plans to pivot focus toward products manufactured by OPKO Health Europe (non-US made) to avoid tariffs.
- Tariff escalation is expected to have an immediate adverse impact on business, financial prospects, and profitability.
NextPlat Corp announced the date for its upcoming annual meeting of stockholders scheduled for June 25, 2025. The filing also establishes deadlines for shareholder proposals and director nominations in compliance with SEC rules.
📋 Key Facts
- Annual Meeting Date: June 25, 2025, at 10:00 a.m. EDT.
- Meeting Location: 3250 Mary St., Suite 410, Coconut Grove, FL 33133.
- Record Date for voting eligibility: April 28, 2025.
- Deadline for shareholder proposals (for inclusion in Information Circular): April 18, 2025.
- Deadline for shareholder director nominations: April 28, 2025.
NextPlat Corp announced its results of operations and financial condition for the fiscal year ended December 31, 2024. The filing serves as a formal announcement of the company's annual earnings press release.
📋 Key Facts
- Reporting period: Fiscal year ended December 31, 2024.
- Filing date: March 24, 2025.
- The filing includes an Earnings Press Release as Exhibit 99.1.
NextPlat Corp has approved a 10b5-1 stock repurchase plan to buy back up to $2,000,000 of its common stock. The company has engaged Dawson James Securities, Inc. to facilitate the repurchases through open market or private transactions.
🚩 Red Flags
- The plan includes a termination clause upon the commencement of any voluntary or involuntary bankruptcy, indicating standard but necessary risk disclosure.
📋 Key Facts
- Repurchase authorization: Up to $2,000,000 in common stock.
- Counterparty: Dawson James Securities, Inc. (Dawson).
- Fee structure: $25,000 commitment fee plus a commission of $0.03 per share after the first 500,000 shares.
- Expiration date: Scheduled to expire on December 16, 2025, unless extended or terminated early.
- Methodology: Open market purchases, privately-negotiated transactions, or Rule 10b5-1 trading plans.
NextPlat Corp (NXPL) filed an 8-K to announce its financial results for the quarter ended September 30, 2024. The filing serves as a formal mechanism to furnish the press release containing these results.
📋 Key Facts
- Reporting period: Quarter ended September 30, 2024.
- Filing date: November 14, 2024.
- The company issued a press release (Exhibit 99.1) regarding its financial condition and results of operations.
NextPlat Corp settled an ongoing lawsuit with its former CFO, Thomas Seifert, on October 15, 2024. The settlement involves a total cash outflow of $750,000 for settlement and legal fee reimbursement.
🚩 Red Flags
- Significant legal settlement/reimbursement involving a former C-suite officer ($750k total).
- Potential indicator of past internal friction or litigation risk regarding financial leadership.
- Cash outflow in a micro-cap context that may impact liquidity.
📋 Key Facts
- Settlement date: October 15, 2024
- Total payment to former CFO: $150,000 (settlement) + $600,000 (legal cost reimbursement)
- Total cash impact: $750,000
- Both parties agreed to dismiss the lawsuit with prejudice and mutual release of claims.
NextPlat Corp announced the election of Elizabeth Alcaine to its Board of Directors effective October 1, 2024. The filing also details the updated composition of the company's Audit, Compensation, and Nominating committees.
📋 Key Facts
- Elizabeth Alcaine was elected to the Board effective October 1, 2024, to fill a vacancy.
- Ms. Alcaine brings over 25 years of experience in the healthcare sector, including roles at Progressive Care Inc and AskVetMD.
- The company entered into an independent director agreement with Ms. Alcaine for a one-year term.
- Compensation includes $25,000 worth of common stock annually based on the average closing price of the three trading days preceding the anniversary date.
- Board approved new committee memberships for Audit, Compensation, and Nominating committees.
NextPlat Corp successfully held its 2024 Annual Meeting where stockholders approved a major business combination with Progressive Care Inc. and elected eight directors. The meeting also included approval for the issuance of more than 20% of outstanding shares required by Nasdaq rules to facilitate the merger.
🚩 Red Flags
- The merger requires the issuance of more than 20% of the company's issued and outstanding common stock, which is a significant dilutive event for existing shareholders.
📋 Key Facts
- The business combination with Progressive Care LLC was approved (11,942,853 votes in favor).
- Stockholders approved a Nasdaq Rule 5635(a) waiver for issuing >20% of common stock related to the merger.
- Eight directors were elected, including Charles M. Fernandez and Douglas S. Ellenoff.
- RBSM LLP was ratified as the independent registered public accounting firm for FY2024.
- The Annual Meeting saw a quorum representing approximately 79.47% of shares outstanding (15,077,886 votes out of 18,973,146 shares).
NextPlat Corp filed an 8-K to furnish its quarterly earnings press release for the period ended June 30, 2024. The filing serves as a formal announcement of financial results and does not contain substantive new material agreements or structural changes.
📋 Key Facts
- Report date: August 14, 2024
- Reporting period: Quarter ended June 30, 2024
- The filing includes a press release as Exhibit 99.1 regarding financial results.
- Company is listed on the Nasdaq Stock Market under ticker NXPL.
NextPlat Corp (NXPL) filed an 8-K to furnish its quarterly press release for the period ended March 31, 2024. The filing serves as a formal announcement of recent financial results and operations.
📋 Key Facts
- The company issued a press release regarding financial results for the quarter ended March 31, 2024.
- The report was filed on May 15, 2024.
- Common stock is traded on Nasdaq under ticker NXPL; warrants are traded under NXPLW.
NextPlat Corp entered into a definitive merger agreement with Progressive Care Inc to execute a business combination. The transaction involves the conversion of Company securities and the issuance of Parent common stock based on an agreed-upon exchange ratio.
🚩 Red Flags
- Significant overlap in management: Charles M. Fernandez (CEO), Cecile Munnik (CFO), and Rodney Barreto serve on both boards.
- Related-party transaction context: The Board formed a Special Committee specifically because of the significant ownership by Parent and overlapping management/constituency.
📋 Key Facts
- Merger Agreement signed on April 12, 2024, between NextPlat Corp (Parent) and Progressive Care Inc (Company).
- The merger will result in the Company merging into a subsidiary of Parent (Merger Sub).
- Exchange Ratio: Each share of Company Common Stock converts to Parent Common Stock at a ratio determined by dividing $2.20 (Company Per Share Value) by $1.48 (Parent Per Share Value).
- Series B Convertible Preferred Stock will convert into 1,500,000 shares of Company Common Stock immediately prior to the effective time.
- The deal is subject to shareholder approval from both Parent and the Company, and SEC effectiveness of a Form S-4 registration statement.
- Termination right exists if the merger is not completed by September 30, 2024.
NextPlat Corp has filed an 8-K to furnish its earnings press release regarding the results of operations and financial condition for the fiscal year ended December 31, 2023.
📋 Key Facts
- The filing relates to the fiscal year ended December 31, 2023.
- Earnings Press Release was issued on April 11, 2024.
- The report is filed under Item 2.02 (Results of Operations and Financial Condition).
NextPlat Corp entered into a Stock Purchase Agreement to acquire all issued and outstanding shares of Outfitter Satellite, Inc. in an all-cash transaction valued at $760,000.
🚩 Red Flags
- The deal includes a deferred payment contingent on the delivery of audited financial statements for two prior fiscal years (2022 and 2023), which may indicate potential delays or issues in obtaining clean audits from the target company.
📋 Key Facts
- Acquisition target: Outfitter Satellite, Inc.
- Total purchase price: $760,000.00 (subject to adjustments).
- Payment structure: $660,000.00 at closing; $100,000.00 upon delivery of Outfitter’s audited 2022 and 2023 financial statements.
- Expected closing date: On or about April 1, 2024.
- Transaction type: All-cash acquisition.