Above Food Targets $30 Million Profit Following Debt Restructuring
Corporate Update: Above Food Ingredients Inc. (ABVE) announced progress in its restructuring and audit, with plans for a Form 20-F filing by December 12, 2025, and has not sought a Nasdaq extension.
Debt Elimination and Profit Forecast: The company has successfully eliminated all corporate debt and anticipates profitability exceeding $30 million for the fiscal year ending January 31, 2026, despite expecting losses in fiscal 2025.
Merger Progress: Above Food and Palm Global are enhancing their operational alignment, with recent meetings in the UAE focusing on technical integration and shared infrastructure development.
CEO's Statement: CEO Lionel Kambeitz highlighted the restructuring as a significant milestone for the company, emphasizing the potential of the merger with Palm Global for long-term growth.
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- Stock Quotation Update: Above Food Ingredients Inc. is now quoted on the OTC Market under the symbol ABVEF, allowing shareholders to trade through existing brokerage accounts, which ensures liquidity and market participation.
- Nasdaq Relisting Plans: The company is committed to meeting Nasdaq relisting requirements and is actively preparing to file its audited financial statements on Form 20-F, which is expected to enhance its image in the capital markets and improve financing capabilities.
- Appeal Process Review: Above Food is reviewing its submission to appeal the delisting determination to the Nasdaq Listing and Hearing Review Council, aiming to challenge the previous delisting decision to maintain its market position and protect shareholder interests.
- Cautionary Forward-Looking Statements: The company’s forward-looking statements highlight uncertainties regarding future business and financial performance, reminding investors to consider potential risks to make informed investment decisions.
- Stock Price Plunge: Above Food Ingredients Inc. (ABVE) saw its shares plummet over 80% to a record low on Monday after receiving a Nasdaq delisting notice due to its failure to file audited financial statements and an overdue Form 20-F, severely impacting investor confidence.
- Trading Suspension: Trading of the company's common shares and warrants will be suspended at the open of trading on June 2, 2026, with securities expected to trade on the OTCID market under the symbol ABVEE, which may affect liquidity and market participation.
- Audit Progress: Above Food stated that the audit process is largely complete, with only final third-party confirmations pending, including verification related to a previously disposed subsidiary; despite delays from restructuring activities and issues with former subsidiaries, the company expects to resolve remaining audit steps quickly to meet relisting requirements.
- Market Sentiment Shift: Despite the significant drop in ABVE's stock price, retail sentiment on Stocktwits shifted from 'bearish' to 'bullish', indicating that investors are optimistic about the company's potential rebound, even as the stock has fallen over 93% this year.
- Securities Fraud Investigation: Pomerantz LLP is investigating potential securities fraud claims on behalf of investors of Above Foods Ingredients Inc., focusing on unlawful business practices by the company and its executives that could impact investor rights.
- Auditor Resignation Impact: Above Food disclosed on December 2, 2025, that its auditor resigned at the company's request in July, leading to a stock price drop of $0.23, or 7.67%, to close at $1.69 on December 19, 2025, indicating market concerns over corporate governance.
- Law Firm Background: Pomerantz LLP, recognized as a premier firm in corporate, securities, and antitrust class litigation for over 85 years, is committed to fighting for the rights of victims of securities fraud and corporate misconduct, boasting numerous multimillion-dollar recoveries for class members.
- Investor Contact Information: Pomerantz LLP urges affected investors to contact Danielle Peyton at 646-581-9980, ext. 7980, to obtain more information and join the class action, highlighting the urgency and significance of legal action.
- Investigation Launched: Pomerantz LLP is investigating claims of securities fraud against Above Foods Ingredients Inc., potentially impacting investor confidence and stock performance due to allegations against the company and its executives.
- Auditor Resignation: On December 2, 2025, Above Food disclosed that its auditor resigned in July at the company's request, raising market concerns and leading to a stock price drop to $1.69 per share on December 19.
- Stock Price Reaction: Following the auditor resignation news, Above Food's stock fell by $0.23, or 7.67%, indicating investor worries regarding the company's governance and financial transparency.
- Legal Context: Pomerantz LLP, a prominent securities class action law firm with over 85 years of experience, is committed to protecting investor rights, and if fraud is confirmed, the company may face substantial damages.
- Investigation Launched: Pomerantz LLP is investigating whether Above Foods Ingredients Inc. has engaged in securities fraud or other unlawful business practices, aiming to protect investor rights and potentially initiate a class action.
- Auditor Resignation: On December 2, 2025, Above Food disclosed that its auditor resigned in July at the company's request, raising market concerns that could impact the company's credibility.
- Stock Price Reaction: Following the auditor resignation news, Above Food's stock price fell by $0.23, or 7.67%, closing at $1.69 per share on December 19, 2025, indicating investor unease about the company's future.
- Legal Context: Pomerantz LLP is a renowned securities class action law firm that has fought for the rights of victims of securities fraud for over 85 years, which may significantly influence Above Food's future legal liabilities.
- Auditor Resignation: Above Food disclosed on December 2, 2025, that its auditor resigned at the company's request in July, causing a 6.1% drop in stock price to $2.60 per share, which directly undermined investor confidence.
- Audit Delay: On December 12, 2025, the company announced that unavoidable illness-related resource challenges would delay the completion of its fiscal year 2025 audit, leading to a 43.04% stock price decline over two days to $1.76 per share, further exacerbating investor losses.
- Nasdaq Notification: Above Food has notified Nasdaq and applied for a 180-day extension for the audit, a move that, while necessary for compliance, highlights significant challenges in financial transparency and management that could impact future financing capabilities.
- Legal Investigation: Bragar Eagel & Squire is investigating whether Above Food violated federal securities laws, and if substantiated, this could lead to legal liabilities for the company, further affecting its market reputation and shareholder interests.









