FPAY
FlexShopper, Inc.0.0026
+0.0011+73.3%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
63.99KP/E (TTM)
-Basic EPS (TTM)
-0.20Dividend Yield
0%Recent Filings
8-K
Forbearance extends to Oct 27
FlexShopper's Flex Revolution secured a forbearance from Basepoint on defaults like financial reporting lapses, collateral shortfalls, and liquidity breaches until October 27, 2025. Lenders extended the draw period and approved up to $750,000 in over-advances to fund operations ahead of an Article 9 UCC collateral sale on October 24. Flex Revolution ceases operations post-sale. Forbearance ends early if covenants break.
8-K
Loans accelerated, leaders bolt
FlexShopper's lenders accelerated $164.5M in loan principal plus $881,696 interest, $1.2M commitment fees, and $1.5M advisor costs on September 25, 2025, after prior defaults. They terminated servicing rights and halted new funding. Board and exec exodus followed: Varner quit over info disputes; Davis, Katz, McCrory resigned without disagreements. Lenders hold the reins now.
8-K
Nasdaq bid price deficiency
FlexShopper received a Nasdaq deficiency notice on September 18, 2025, after its common stock bid price lingered below $1.00 for 30 straight business days, breaching the minimum listing rule. The company has until March 17, 2026, to lift the price above $1.00 for ten consecutive days or risk delisting, though it could snag a 180-day extension by shifting to the Capital Market. Nasdaq trading persists uninterrupted. Delisting looms if compliance falters.
8-K
Borrowing base crisis escalates
FlexShopper's subsidiaries face a borrowing base deficiency under the Waterfall Credit Agreement due to overstated calculations from alleged misrepresentations by former officers, with the forbearance period expiring on September 3, 2025. The company continues receiving some funding advances while negotiating a restructuring to cure the shortfall and support operations. Yet failure to resolve this threatens going-concern status. The SEC's ongoing investigation adds regulatory pressure.
8-K
Credit forbearance extended
FlexShopper's subsidiary secured a forbearance extension from lender BP Fundco on August 29, 2025, delaying action on a default from late 2024 financial statements until September 30 or earlier termination. The deal stretches the credit facility's draw period to September 30, 2025, with a possible one-year extension, while requiring a backup servicing agreement by then. Lenders retain discretion on new loans. Forbearance buys time, but hinges on compliance.
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