Greenwave Technology Solutions Inc. (NASDAQ: GWAV) has received an additional delinquency notice from Nasdaq following the delayed filing of its Quarterly Report on Form 10-Q for the period ended June 30, 2025. The notice serves as another potential basis for delisting, though the company confirmed its securities will continue trading on The Nasdaq Capital Market under the ticker "GWAV" while it works to resolve the compliance issues.
The company emphasized its commitment to filing the delayed reports with the SEC as soon as practicable and plans to provide Nasdaq with an updated compliance plan by September 8, 2025. This development is significant for investors and market observers as it reflects ongoing regulatory challenges facing the metal recycling operator, which could impact shareholder confidence and the company's ability to maintain its listing status.
Greenwave operates 13 metal recycling facilities through its subsidiary Empire Services, Inc., with locations across Virginia, North Carolina, and Ohio. The company implements several unique technologies to increase metal processing volumes and operating efficiencies, including a downstream recovery system and cloud-based ERP system. More information about the company's operations can be found at https://www.GWAV.com.
The regulatory notice highlights the importance of timely financial reporting for publicly traded companies, particularly in the environmental services sector where transparency is crucial for investor trust. Steel recycling, which represents a core part of Greenwave's business, is one of the world's most recycled products, offering significant environmental benefits including reduced energy use, lower CO2 emissions, and conservation of natural resources compared to virgin metal production.
For additional information and updates relating to the company, investors can access the newsroom at https://ibn.fm/GWAV. The company's customers include large corporations, industrial manufacturers, retail customers, and government organizations, and it plans to aggressively expand its footprint by acquiring independent, profitable scrap yards in the coming months.
