Fisker files to delay annual report on Form 10K

Fisker said in a regulatory filing that it was unable, without unreasonable effort and expense, to complete the preparation of its Annual Report on Form 10-K for the year ended December 31, 2023 by February 29, 2024 due to the circumstances described below. As previously disclosed in the earnings release furnished as Exhibit 99 to the company’s Current Report on Form 8-K filed on February 29, 2024, the company requires additional time to finalize the company’s consolidated financial statements, finalize the assessment of its internal control over financial reporting and related disclosures, and complete its procedures for the Report. The company has experienced a change in key accounting personnel and, as a result, lacks a sufficient number of professionals with an appropriate level of accounting knowledge, training, and experience to appropriately analyze, record, and disclose accounting matters timely and accurately. The company disclosed certain material weaknesses in its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023. In addition to the previously disclosed material weaknesses, the company has identified a material weakness in revenue and the related balance sheet accounts, which will be disclosed in the Report. The company will continue to evaluate its internal control over financial reporting and may identify additional material weaknesses as it completes its procedures on the Report.