Purple Innovation (PRPL) files to delay 10-K
Purple Innovation (PRPL) filed to delay its 10-K for the year ended December 31, 2022. The Company has determined that it is unable to file its Form 10-K within the prescribed time period without unreasonable effort or expense for the reasons set forth below.
The Company has determined that it is unable to file the Form 10-K within the prescribed time period without unreasonable effort or expense because it requires additional time to complete its financial statement preparation and review process. The Company uses a number of SaaS solutions in its financial reporting processes (such as inventory management and point of sales, among others). These service organizations provide annual evaluations over the effectiveness of their control environment, some of which are still outstanding or require additional follow up before the Company can finalize its assessment over internal controls. The Company expects to file its Form 10-K on or before Friday, March 31, 2023, which is within the fifteen-calendar day extension provided by Rule 12b-25.
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