0000318833-22-000077.txt : 20220815 0000318833-22-000077.hdr.sgml : 20220815 20220815080804 ACCESSION NUMBER: 0000318833-22-000077 CONFORMED SUBMISSION TYPE: NT 10-Q PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20220630 FILED AS OF DATE: 20220815 DATE AS OF CHANGE: 20220815 EFFECTIVENESS DATE: 20220815 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TEAM INC CENTRAL INDEX KEY: 0000318833 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISCELLANEOUS REPAIR SERVICES [7600] IRS NUMBER: 741765729 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NT 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-08604 FILM NUMBER: 221162457 BUSINESS ADDRESS: STREET 1: 13131 DAIRY ASHFORD STREET 2: SUITE 600 CITY: SUGAR LAND STATE: TX ZIP: 77478 BUSINESS PHONE: 2813316154 MAIL ADDRESS: STREET 1: 13131 DAIRY ASHFORD STREET 2: SUITE 600 CITY: SUGAR LAND STATE: TX ZIP: 77478 NT 10-Q 1 tisi-06302022form12bx25.htm NT 10-Q Document

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


FORM 12b-25


NOTIFICATION OF LATE FILING


SEC FILE NUMBER 001-08604
CUSIP NUMBER 878155100


(Check one):
☐ Form 10-K ☐ Form 20-F ☐ Form 11-K ☒ Form 10-Q
☐ Form 10-D ☐ Form N-SAR ☐ Form N-CSR
For Period Ended: June 30, 2022

☐ Transition Report on 10-K
☐ Transition Report on 20-F
☐ Transition Report on 11-K
☐ Transition Report on 10-Q
☐ Transition Report on N-SAR
For the Transition Period Ended:

If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates: Not Applicable

PART I – REGISTRANT INFORMATION


TEAM, INC.
Full Name of Registrant


Not Applicable
Former Name if Applicable


13131 Dairy Ashford, Suite 600
Address of Principal Executive Office(Street and Number)

Sugar Land, TX 77478
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 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 12b-25(c) has been attached if applicable.


PART III – NARRATIVE

State below in reasonable detail the reasons 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.

(Attach extra sheets if needed.)

The Registrant reviews its status as an accelerated filer as of June 30th each year. As of June 30, 2022, the Registrant determined that the Common Stock held by non-affiliates totaled $31,985,670 which was below the threshold to be considered an accelerated filer. There was a misunderstanding of the filing deadline requirement and the Registrant believed that it was subject to the non-accelerated filer deadlines beginning June 30, 2022, which would have allowed for a filing deadline of August 15, 2022. As such, the Registrant has not filed the Form 10-Q with the Securities and Exchange Commission within the prescribed time period. The Registrant’s delay in filing was unintentional and it intends to file its Form 10-Q on August 15, 2022.


PART IV – OTHER INFORMATION

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

André C. Bouchard281333-5561
(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 ☒ No ☐

Not Applicable


(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☒ 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.

Reference is made to the Form 10-Q for the quarter ended June 30, 2022, which includes significant changes in results of operations from the prior fiscal year.










TEAM, INC.
(Name of Registrant as Specified in Charter)


Team, Inc. has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.
Date:August 15, 2022By:/S/     Nelson M. Haight
Name:Nelson M. Haight
Title:Chief Financial Officer

INSTRUCTION: The form may be signed by an executive officer of the registrant or by any other duly authorized representative. The name and title of the person signing the form shall be typed or printed beneath the signature. If the statement is signed on behalf of the registrant by an authorized representative (other than an executive officer), evidence of the representative’s authority to sign on behalf of the registrant shall be filed with the form.


ATTENTION
Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).






































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