Harbor BioSciences ( (HRBR) ) has released a notification of late filing.
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Harbor Diversified, Inc. has filed a Form 12b-25 to notify investors that it will delay its Form 10-K (Yearly Report) for the financial year ended December 31, 2025. The company says it cannot meet the deadline for the Annual Report on Form 10-K (Yearly Report) due to the time needed to finalize its 2025 financial statements and complete the related audit.
Management explains that substantial time and resources were recently devoted to catching up on past reporting, including the Form 10-K (Yearly Report) for 2023 and multiple Form 10-Q (Quarter Report) filings for 2024. In parallel, the company focused heavily on executing a complex series of transactions to sell and dispose of its aviation assets, including its stake in Air Wisconsin, which closed on January 9, 2026.
Because of these demands, Harbor Diversified does not expect to file the 2025 Form 10-K (Yearly Report) within the standard 15-day extension window normally available under the late-filing rule. The company has not provided a specific new filing date, only indicating that additional time is required and that timing remains subject to various risks and uncertainties.
The company warns investors that it anticipates significant changes in its financial condition and results of operations for 2025 compared with 2024. These changes are tied to the termination of a capacity purchase agreement with American Airlines, a strategic shift in the business, and the implementation of a workforce reduction plan.
After the aviation asset sale, Harbor Diversified reports that it has no material operating assets, no active operating business, and no revenue from operations. The company cautions that its future financial results will differ sharply from its historical performance, and all timing and outcome expectations are forward-looking statements subject to risk factors previously disclosed in its SEC filings.
The notification states that several prior reports also remain outstanding, including Form 10-K (Yearly Report) filings for 2024 and 2025 and Form 10-Q (Quarter Report) filings for the first three quarters of 2025. Harbor Diversified notes that it is working through these reporting delays as part of its broader strategic review.
The Form 12b-25 is signed on behalf of Harbor Diversified, Inc. by Chief Executive Officer and Secretary Christine R. Deister, dated April 1, 2026. Her signature signals the company’s acknowledgement of its reporting obligations and its intent to bring its SEC filings back into compliance as it evaluates strategic alternatives going forward.
More about Harbor BioSciences
Harbor Diversified, Inc., doing business as Harbor BioSciences in markets, has historically derived its operations and revenue from aviation-related assets, including its ownership interest in regional carrier Air Wisconsin. Following the recent sale and disposition of these aviation assets, the company reports that it no longer has material operating assets, is not engaged in an ongoing operating business, and currently has no revenue from operations.
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