NextPlat Corp Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
Dec. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 20 – SUBSEQUENT EVENTS On January 5, 2023, the Company received notice from The Nasdaq Stock Market, Inc. (“Nasdaq”) that we are out of compliance with the Nasdaq rules for continued listing (Listing Rules 5620(a) and 5810(c)(2)(G)) as a result of our failure to hold an annual meeting of shareholders within twelve months of the end of its fiscal year ended December 31, 2021. The Company submitted a plan of compliance in response to the notice, which Nasdaq accepted, and was granted an exception of up to May 31, 2023, to regain compliance. On January 27, 2023, the Company issued a press release (a copy of which is furnished herewith as exhibit 99.1) announcing that its 2023 Annual Meeting of Stockholders (“2023 Annual Meeting”) will be held on Wednesday, May 31, 2023. The 2023 Annual Meeting will be a completely virtual meeting conducted via webcast. The close of business on April 3, 2023, shall be the record date for the determination of stockholders entitled to notice of and to vote during the 2023 Annual Meeting and any adjournment thereof. On February 17, 2023 the Company entered into a master intercompany note with and between its subsidiaries, Orbital Satcom Corp. and Global Telesat Communications Limited (individually, “the Payor” or “the Payee”), under which all intercompany loans and advances are payable on demand. Each Payor promises also to pay interest, if any, on the unpaid principal amount of all such loans and advances in like money at said location from the date of such loans and advances until paid at such rate per annum as shall be agreed upon from time to time by such Payor and such Payee.

SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2022

NOTE 20 – SUBSEQUENT EVENTS

On January 5, 2023, the Company received notice from The Nasdaq Stock Market, Inc. (“Nasdaq”) that we are out of compliance with the Nasdaq rules for continued listing (Listing Rules 5620(a) and 5810(c)(2)(G)) as a result of our failure to hold an annual meeting of shareholders within twelve months of the end of its fiscal year ended December 31, 2021. The Company submitted a plan of compliance in response to the notice, which Nasdaq accepted, and was granted an exception of up to May 31, 2023, to regain compliance.

On January 27, 2023, the Company issued a press release (a copy of which is furnished herewith as exhibit 99.1) announcing that its 2023 Annual Meeting of Stockholders (“2023 Annual Meeting”) will be held on Wednesday, May 31, 2023. The 2023 Annual Meeting will be a completely virtual meeting conducted via webcast. The close of business on April 3, 2023, shall be the record date for the determination of stockholders entitled to notice of and to vote during the 2023 Annual Meeting and any adjournment thereof.

On February 17, 2023 the Company entered into a master intercompany note with and between its subsidiaries, Orbital Satcom Corp. and Global Telesat Communications Limited (individually, “the Payor” or “the Payee”), under which all intercompany loans and advances are payable on demand. Each Payor promises also to pay interest, if any, on the unpaid principal amount of all such loans and advances in like money at said location from the date of such loans and advances until paid at such rate per annum as shall be agreed upon from time to time by such Payor and such Payee.