Envirotech Vehicles Inc. of Osceola (Nasdaq: EVTV) said Thursday that the Nasdaq stock exchange had accepted the electric vehicle maker's request for an extension to submit delinquent financial reports.
Envirotech said it submitted a plan to Nasdaq where the company would file its results from the fourth quarter of 2022 and the first quarter of 2023 by Sept. 22. The company told the stock exchange it would file its financial results for the second quarter of 2023 by Oct. 16, after an audit is completed by the company's registered public accounting firm.
Envirotech would then regain compliance with Nasdaq listing rules.
The filing delays started around the same time that Envirotech revealed it had incorrectly reported financial results in 2022. A number of changes in the company's executive ranks followed. In April, it announced it had restructured its executive accounting team, appointing Douglas Campoli as CFO and Franklin Lim as controller.
Additional executive changes were announced in July. Richard Ross became the company's EVTV North America executive vice president. Greg Miros was named vice president of sales.
Sue Emry, previously EVTV executive vice president, shifted to overseas strategy officer, focusing on the company's "burgeoning Asia Pacific business," Envirotech said in an news release.
Envirotech has declined interview requests concerning its executive changes and accounting errors.
Envirotech makes battery-powered commercial vehicles for schools and delivery services, with a focus on "last-mile fleets." In 2022, it announced it would open manufacturing facilities in Osceola and move its headquarters to the east Arkansas town from Corona, California.
