Notification That Quarterly Report Will Be Submitted Late (nt 10-q)
June 15 2020 - 4:44PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
12b-25
NOTIFICATION
OF LATE FILING
(Check
One): ☐ Form 10-K ☐ Form 20-F ☐ Form 11-K ☒ Form 10-Q ☐ Form 10-D
☐ Form N-SAR ☐ Form N-CSR
For
Period Ended: April 30, 2020
☐ Transition
Report on Form 10-K
☐ Transition
Report on Form 20-F
☐ Transition
Report on Form 11-K
☐ Transition
Report on Form 10-K
☐ Transition
Report on Form N-SAR
For
the Transition Period Ended: _____________________________________
Read
Instructions (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.
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If
the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:
PART
I – REGISTRANT INFORMATION
XT
Energy Group, Inc.
Full
Name of Registrant:
N/A
Former
Name if Applicable:
No.1,
Fuqiao Village, Henggouqiao Town
Address
of Principal Executive Office (Street and number):
Xianning,
Hubei, China 437012
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)
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(a)
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The
reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
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☒
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(b)
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The
subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR 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 or 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 due date; and
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(c)
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The
accountant’s statement or other exhibit required by Rule 12(b)-25(c) has been attached if applicable.
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PART
III – NARRATIVE
State
below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof,
could not be filed within the prescribed time period.
XT
Energy Group, Inc. (the ” Registrant”) was unable to file its Quarterly Report on Form 10-Q (the “Form 10-Q”)
for the quarter ended April 30, 2020 in a timely manner. Due to the constraints on the Registrant set upon it by the Covid 19
pandemic, the Registrant cannot file its Form 10-Q within the prescribed period without undue hardship and expense and requires
additional time to complete the compilation of its financial statements for the Form 10-Q.
PART
IV – OTHER INFORMATION
(1)
Name and telephone number of person to contact in regard to this notification:
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Qiang
Ou
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(0715)
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8719899
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(Name)
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(Area Code)
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(Telephone Number)
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(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.
Revenues
from continuing operations decreased by $28,845,185, or 90.1%, to $3,156,482 for the nine months ended April 30, 2020 as compared
to $32,001,667 for the nine months ended April 30, 2019. Total cost of revenue from continuing operations decreased by $22,489,491,
or 82.3%, to $4,831,786 for the nine months ended April 30, 2020 as compared to $27,321,277 for the same period in 2019. Net income
decreased by $16,792,456, or 485.6%, to net loss of $13,334,678 for the nine months ended April 30, 2020, from a net income of
$3,457,778 for the same period in 2019.
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XT
Energy Group, Inc.
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(Name
of Registrant as Specified in Charter)
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has
caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.
Date: June 15, 2020
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By:
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Qiang Ou
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Name: Qiang Ou
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Title: Chief Operating Officer
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ATTENTION
Intentional
misstatements or omissions of fact constitute Federal criminal violations. (See 18 U.S.C. 1001).
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