Less than a year after it rang the opening bell on the NASDAQ, SPI Energy reports that it has been given 60 days to file its second quarter 2016 results or face de-listing from the exchange.
This is the latests delay for SPI Energy, which filed its 2015 report late. This report showed losses for 2012, 2013, 2014, and a whopping US$185 million loss in 2015.
It is notable that this is happening under the leadership of a CEO who racked up billions of dollars in losses at his former company. SPI Energy CEO Xiaofeng Peng was the founder and long-time CEO of LDK Solar, which lost a truly stunning amount of money before being forced into bankruptcy in China in November 2015.
SPI Energy has also seen significant management changes throughout its year as a NASDAQ-traded company.