Purebase Delays Annual Report Amid Higher Losses

PureBase ( (PUBC) ) has released a notification of late filing.

Purebase Corporation has filed a Form 12b-25 to notify investors it will delay its Form 10-K (Yearly Report) for the fiscal year ended November 30, 2025. The company says the annual filing cannot be completed on time without unreasonable effort or expense because it needs additional resources to supply its auditors with required information.

Management expects to file the Form 10-K (Yearly Report) within the standard 15-day extension window allowed under SEC rules. Purebase also confirmed that all other required periodic reports over the past 12 months have been filed on time, suggesting this is a timing issue specific to the latest annual report.

The company is warning of a significant deterioration in its results of operations versus the prior fiscal year. It estimates that net loss will increase by about $800,000, driven by roughly $87,000 higher operating expenses and about $700,000 more in other expenses.

Within other expenses, Purebase projects approximately $315,000 of additional interest expense tied mainly to debt discount expense. It also expects around $390,000 more in losses on disposal of assets, indicating heavier financing costs and asset write-downs that investors should watch closely.

These figures are preliminary estimates and constitute forward-looking statements that may change once the audit is completed and the Form 10-K (Yearly Report) is filed. The company indicates it is working to complete the necessary information for its auditors and maintain regulatory compliance, with the notification signed by Chief Financial Officer Stephen Gillings on March 2, 2026.

More about PureBase

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Technical Sentiment Signal: Sell

Current Market Cap: $6.69M

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