UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 12b-25

 

NOTIFICATION OF LATE FILING

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SEC FILE NUMBER
000-50612
 
CUSIP NUMBER

 

(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: November 30, 2023
   
  Transition Report on Form 10-K
   
  Transition Report on Form 20-F
   
  Transition Report on Form 11-K
   
  Transition Report on Form 10-Q
   
  Transition Report on Form N-SAR
   
  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:

 

PART I — REGISTRANT INFORMATION

 

Unique Logistics International, Inc.
Full Name of Registrant

 

 
Former Name if Applicable

 

154-09 146th Avenue
Address of Principal Executive Office (Street and Number)

 

Jamaica, NY 11434
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-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 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 due 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 or portion thereof, could not be filed within the prescribed time period.

 

UNIQUE LOGISTICS INTERNATIONAL, INC. (the “Registrant”) was unable, without unreasonable effort or expense, to file its Quarterly Report on Form 10-Q for the period ended November 30, 2023 (the “Quarterly Report”) by the January 16, 2024 filing date applicable to smaller reporting companies due to a delay experienced by the Registrant in completing its financial statements and other disclosures in the Quarterly Report. As a result, the Registrant is still in the process of compiling the required information to complete the Quarterly Report. The Registrant anticipates that it will file the Quarterly Report no later than the fifth calendar day following the prescribed filing date.

 

PART IV — OTHER INFORMATION

 

(1) Name and telephone number of person to contact in regard to this notification

 

Sunandan Ray   (718)   978-2000
(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 ☐
   
  The logistics industry experienced a global slowdown in the calendar year 2023 compared with the comparable period in 2022. Lower shipping volumes and lower freight rates are both responsible for a significant decline in revenues, net income, and EBITDA of the Registrant. We anticipate reporting a decline in revenue for the three months ended November 30, 2023, as compared to the same period in 2022, of approximately 30.4%, and in net income of approximately 279.4%, therefore reporting a net loss for the three months period ending November 2023. We also anticipate reporting a 123.1% decline in EBITDA for the three months period ending November 2023. We anticipate reporting a decline in revenue for the six months ended November 30, 2023, as compared to the same period in 2022, of approximately 44.7%, and in net income of approximately 178.6%, therefore reporting a net loss for the six months period ending November 2023. We also anticipate reporting a 123.1% decline in EBITDA for the six months period ending November 2023.

 

 

 

 

UNIQUE LOGISTICS INTERNATIONAL, INC.

(Name of Registrant as Specified in Charter)

 

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

 

January 17, 2024 By: /s/ Sunandan Ray
  Name: Sunandan Ray
  Title: Chief Executive Officer

 

 


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