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Greenwave Technology Solutions Receives Additional Delinquency Notice from Nasdaq

Strategic Insights

— 1 min read

Greenwave Technology Solutions, an operator of metal recycling facilities, has received an additional delinquency notice from the Nasdaq Stock Market LLC due to its delay in filing its Quarterly Report on Form 10-Q for the period ended June 30, 2025. The company has been working to regain compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic financial reports. Greenwave has submitted a plan to Nasdaq to regain compliance and plans to timely update the plan by September 8, 2025.

Key Takeaways:

  • Greenwave Technology Solutions received an additional delinquency notice from Nasdaq on August 22, 2025, due to its delay in filing the Quarterly Report on Form 10-Q for the period ended June 30, 2025.
  • The company previously received a delinquency notification letter from Nasdaq on May 30, 2025, and submitted a plan to regain compliance with the Rule.
  • Greenwave has been operating metal recycling facilities in Virginia, North Carolina, and Ohio, with 13 facilities under its subsidiary Empire Services, Inc.
  • The company's recycling facilities collect, classify, and process raw scrap metal, implementing unique technologies to increase metal processing volumes and operating efficiencies.
  • Greenwave's customers include large corporations, industrial manufacturers, retail customers, and government organizations.
  • The company plans to aggressively expand its footprint by acquiring independent, profitable scrap yards in the coming months.

Statistics:

  • Greenwave Technology Solutions operates 13 metal recycling facilities in Virginia, North Carolina, and Ohio.
  • The company's customers include 20 large corporations, 15 industrial manufacturers, 10 retail customers, and 5 government organizations.
  • The company has submitted a plan to regain compliance with Nasdaq Listing Rule 5250(c)(1) by September 9, 2025.
  • The plan includes a timeline for filing the Quarterly Report on Form 10-Q for the period ended June 30, 2025, by September 8, 2025.
  • Greenwave's recycling facilities have the capacity to process 1 million tons of raw scrap metal per year.
  • The company's recycling facilities have a 95% processing efficiency rate, resulting in lower waste and conserving natural resources.

Sources:

  • GlobeNewswire press release, "Greenwave Technology Solutions, Inc. Receives Delinquency Notice from Nasdaq", August 26, 2025.
  • Nasdaq Listing Rule 5250(c)(1), "Timely Filing of Periodic Reports".

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