NT 10-Q 1 nt10-q12x31x2021.htm NT 10-Q Document


UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 12b-25

NOTICE OF LATE FILING


SEC FILE NUMBER: 000-51764

CUSPI NUMBER: N/A

(Check One)        o Form 10-K        o Form 20-F        o Form 11-K        ☒ Form 10-Q    
o Form-D        o Form N-SAR    o Form N-CSR


For Period Ended: December 31, 2021

o Transition Report on Form 10-K            o Transition Report on Form 20-F
o Transition Report on Form 11-K            o Transition Report on Form 10-Q
o Transition Report on Form N-SAR


For the Transition Period Ended:

Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.

If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:

PART I - REGISTRATION INFORMATION

Lincolnway Energy, LLC
Full Name of Registrant
Not Applicable
Former Name of Registrant
59511 W. Lincoln Highway
Address of Principal Executive Office (Street and Number)
Nevada, Iowa 50201
City, State and Zip Code
    



PART II - RULES 12b-25(b) AND (c)

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed (Check box if appropriate)

☒
(a)The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense
(b)The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and
(c)The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

PART III - NARRATIVE

The Company is unable to timely file its quarterly report on Form 10-Q for the period ended December 31, 2021 (the “Form 10-Q”) without unreasonable effort and expense as the Company’s auditor was completing its final reviews of supporting documentation provided by the Company regarding railcar lease repair expense accruals in order to complete its quarterly review. The Company expects that the Form 10-Q will be completed in a timely fashion to ensure timely filing prior to the reporting deadline provided by such extension.

PART III - NARRATIVE

(1)    Name and telephone number of person to contact in regard to this notification

Joseph Leo(515) 242-2462
(Name)(Area Code) (Telephone Number)


(2)    Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s). ☒ Yes o No

(3)    Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? ☒ Yes o No

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.





The Form 10-Q will reflect the following significant change in results of operations which are unrelated to the ethanol sales revenue reconciliation review referenced above.

•Total revenues increased approximately 87.6%, or $33 million, compared to the same period in 2020.
•Total cost of goods sold increased approximately 55.3%, or $16 million, compared to the same period in 2020.
•Net income was approximately $8 million, compared to net loss of approximately $1 million for the same period in 2020.

Lincolnway Energy, LLC
(Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.


Date:February 14, 2022By:/s/ Jeff Kistner
Name:Jeff Kistner
Title:Interim Chief Financial Officer