Xwell announces plans to file form 12b-25 to extend filing date of its form 10-k and provides preliminary fy2022 operating update

New york, march 30, 2023 (globe newswire) -- xwell, inc. (nasdaq: xwel) (“xwell” or the “company”), an authority in health and wellness solutions for people on the go, today announced plans to file a form 12b-25 with the u.s. securities and exchange commission regarding its annual report on form 10-k for the year ended december 31, 2022. the company requires additional time to complete a review in accordance with generally accepted accounting principles to assess the amount of a non-cash impairment charge required for the fourth quarter of 2022. the form 12b-25 provides the company with an additional 15 calendar days to complete its assessment and allows its independent registered public accounting firm extra time to complete its audit of the company's financial statements before filing its form 10-k.
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