Flexshopper, Inc. (FPAY) partners with ICON, receives Nasdaq notice

FlexShopper, Inc. (Nasdaq: FPAY) (“FlexShopper”), a leading provider of lease-to-own (LTO) payment solutions, is pleased to announce a new strategic partnership with ICON Vehicle Dynamics, a premier manufacturer of performance suspension systems and off-road vehicle components. This collaboration brings FlexShopper's innovative LTO financing directly to ICON's customers, making premium vehicle upgrades more accessible and affordable.

ICON’s customers now have the ability to obtain high-quality off-road performance parts and accessories with flexible weekly payments, no credit needed, and a straightforward approval process-powered by FlexShopper's advanced underwriting and technology platform.

“We are excited to provide ICON’s customers with flexible payment options for the products they need and want,” said Russ Heiser, CEO of FlexShopper. "Partnering with a respected industry leader like ICON enables us to serve a passionate community of automotive enthusiasts while enhancing their buying power."

Founded on a commitment to innovation and performance, ICON designs and manufactures state-of-the-art suspension systems and components for trucks, SUVs, and Jeeps. Their products are engineered for superior ride quality, strength, and durability-built to conquer rugged terrain while maintaining excellent on-road performance.

By offering LTO solutions through FlexShopper, ICON enhances the buying experience for customers seeking to build or upgrade their vehicles with top-tier components. The addition of LTO financing aligns with ICON's commitment to delivering high-performance products and services, giving more drivers the opportunity to equip their vehicles without compromising on quality or budget.

Mr. Heiser, continued, “We are actively working to regain compliance with Nasdaq’s listing standards as soon as practicable. We remain committed to transparency and strong financial reporting as we continue to execute on our business strategy.”

10-Q Filing and Nasdaq Compliance

On May 22, 2025, the Company received a notice from the Nasdaq Listing Qualifications staff of Nasdaq indicating that, as a result of not having timely filed its Form 10-Q for the quarterly period ended March 31, 2025, and because the Company remains delinquent in filing its Form 10-K for the year ended December 31, 2024 (the “Initial Delinquent Filing”), the Company does not comply with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic financial reports with the Securities and Exchange Commission.

The Company intends to file its Form 10-K for the year ended December 31, 2024 and its Form 10-Q for the quarter ended March 31, 2025 as soon as practicable. The Company has until June 16, 2025 to submit a plan to regain compliance with respect to these delinquent reports. If Nasdaq accepts the Company's plan, then Nasdaq may, at its discretion, grant the Company up to 180 additional calendar days from the due date of the Initial Delinquent Filing, or October 13, 2025, to regain compliance. In determining whether to accept the plan, Nasdaq will consider such things as the likelihood that the Filing, along with any subsequent periodic filing that will be due, can be made within the 180 day period, the Company’s past compliance history, the reasons for the late filing, other corporate events that may occur within its review period, the Company’s overall financial condition and its public disclosures. If Nasdaq does not accept the Company’s plan, then the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel.

You May Also Be Interested In

• Tenable Holdings, Inc. (TENB) to Join S&P SmallCap 600
• Centerspace reduces credit facility capacity by $150M to $250M
• American Resources gets second Nasdaq notice for late SEC filing