Form NT 10-Q/A Property Solutions Acqui For: Mar 31

 

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549    FORM 12b-25/A   NOTIFICATION OF LATE FILING	OMB APPROVAL
	OMB Number: 3235-0058
	Expire: February 28, 2022
	Estimated average burden hours per response ... 2.50
	SEC FILE NUMBER
	001-39395
	CUSIP NUMBER
	74348Q108

 

(Check one):		☐  Form 10-K ☐  Form 20-F ☐  Form 11-K ☒  Form 10-Q ☐  Form 10-D ☐  Form N-CEN ☐  Form N-CSR
		For Period Ended:	March 31, 2021
		☐   Transition Report on Form 10-K
		☐   Transition Report on Form 20-F
		☐   Transition Report on Form 11-K
		☐   Transition Report on Form 10-Q
		For the Transition Period Ended:

 

Read Instruction (on back page) Before Preparing Form. Please Print or Type.  Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.

 

If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates: N/A

 

Explanatory Note

This Amendment No. 1 to Form 12b-25 is being filed to correct the information provided under Part III – Narrative and paragraph (3) of Part IV -- Other Information.

 

PART I – REGISTRANT INFORMATION

 

Property Solutions Acquisition Corp.

Full Name of Registrant

 

N/A

Former Name if Applicable

 

654 Madison Avenue

Address of Principal Executive Office (Street and Number)

 

New York, NY 10065

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 reasons 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-CEN, 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 of 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 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 portion thereof, could not be filed within the prescribed time period.

 

Property Solutions Acquisition Corp. (the “Company”) is unable to file its Quarterly Report for the quarter ended March 31, 2021 (“Form 10-Q”) by the prescribed due date without unreasonable effort or expense due to, among other things, the Company’s review of errors in prior period financial statements relating to its classification of certain warrants as equity rather than derivative liabilities and its efforts to determine the materiality of such errors. Additionally, the Company does not have a full-time administrative and accounting staff and, as a result, was unable to accurately and completely compile the information required to be included in the Form 10-Q.

 

PART IV — OTHER INFORMATION

 

(1)		Name and telephone number of person to contact in regard to this notification
Jordan Vogel				(646)		502-9845
(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 ☐
(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.
		Until completion of the review and valuation of the Company’s warrants as described above, the Company will not be in a position to provide a reasonable estimate of its results of operations for any of the affected periods.

 

 

Property Solutions Acquisition Corp.

(Name of Registrant as Specified in Charter)

 

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: May 17, 2021	By:	/s/ Jordan Vogel
		Jordan Vogel, Co-Chief Executive 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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