NT 10-Q 1 tm2024698-3_nt10q.htm NT 10-Q

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 12b-25

 

NOTIFICATION OF LATE FILING

 

(Check One):  ¨ Form 10-K     ¨ Form 20-F     ¨ Form 11-K     x  Form 10-Q     ¨ Form 10-D

¨ Form N-SAR  ¨  Form N-CSR

 

For Period Ended: June 30, 2020

 

  ¨ Transition Report on Form 10-K

  ¨ Transition Report on Form 20-F

  ¨ Transition Report on Form 11-K

  ¨ Transition Report on Form 10-K

  ¨ Transition Report on Form N-SAR

 

For the Transition Period Ended: _____________________________________

 

Read Instructions (on back page) Before Preparing Form. Please Print or Type.

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 – REGISTRANT INFORMATION

 

Senmiao Technology Limited

Full Name of Registrant:

 

N/A

Former Name if Applicable:

 

16F, Shihao Square, Middle Jiannan Blvd., High-Tech Zone

Address of Principal Executive Office (Street and number):

 

Chengdu, Sichuan, China 610000

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 reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;

 

x (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 report 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 12(b)-25(c) has been attached if applicable.

 

 

 

 

PART III – NARRATIVE

 

State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

 

Senmiao Technology Limited (the “Registrant”) requires additional time to complete certain disclosures to be included in the Quarterly Report on Form 10-Q for the fiscal period ended June 30, 2020 (the “Form 10-Q”). The preparation and review of such disclosures required to be presented in the Form 10-Q could not be completed and filed by the Registrant without undue hardship and expense to the Registrant due in part to the circumstances described in Part IV below. The Registrant expects to file the Form 10-Q on or before the fifth calendar day following the prescribed due date.

 

PART IV – OTHER INFORMATION

 

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

 

  Xi Wen   +86 28   61554399
  (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).

 

x Yes  ¨ 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?

 x Yes  ¨ 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 Registrant’s results of operations for the three months ended June 30, 2020 are anticipated to be significantly different from the corresponding period in the prior fiscal year due to the continuing impact of the COVID-19 epidemic on the ride hailing and related automobile transaction industry in the Registrant’s areas of operation in China, including as result in a shift of the Registrant’s business focus during the quarter due to COVID-19 from the facilitation of automobile purchases and related financing to automobile rentals.

 

While the Registrant continues to finalize its results of operations for the quarter, it is anticipated that the Registrant’s: (i) total revenues decreased to approximately $1.15 million for the three months ended June 30, 2020 from approximately $5.01 million for the three months ended June 30, 2019; (ii) total costs of revenue decreased to approximately $0.62 million for the three months ended June 30, 2020 from approximately $4.02 million for the three months ended June 30, 2019 and (iii) net loss for the three months ended June 30, 2020 increased to approximately $2.28 million for the three months ended June 30, 2020 from approximately $0.03 million for the three months ended June 30, 2019. Additional narrative and quantitative disclosure regarding the Registrant’s results of operations for the quarter ended June 30, 2020 will be disclosed in the Registrant’s Quarterly Report on Form 10-Q.

 

  Senmiao Technology Limited  
  (Name of Registrant as Specified in Charter)  

 

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

 

Date: August 14, 2020  By:   /s/ Xi Wen  
      Name: Xi Wen   
      Title: Chief Executive Officer  

 

ATTENTION

 

Intentional misstatements or omissions of fact constitute Federal criminal violations. (See 18 U.S.C. 1001).