UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 12b-25

 

 

 

NOTIFICATION OF LATE FILING

 

  (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: September 30, 2021
     
    ☐ 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.

 

PART I — REGISTRANT INFORMATION

 

Stryve Foods, Inc.

 

(Full Name of Registrant)

 

Andina Acquisition Corp. III

 

(Former Name if Applicable)

 

5801 Tennyson Parkway, Suite 275

 

(Address of Principal Executive Office (Street and Number))

 

Plano, Texas 75024

 

(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 reason 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 or 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 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.

 

Stryve Foods, Inc. (the “Company”) is unable to file, without unreasonable effort and expense, its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2021 (the “Form 10-Q”) on or prior to the prescribed due date of November 15, 2021 due to a delay in obtaining and compiling information required to be included in the Company’s Form 10-Q. The Company currently anticipates that the Form 10-Q will be filed on or before the fifth calendar day following the prescribed due date.

 

PART IV — OTHER INFORMATION

 

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

 

  R. Alex Hawkins   972   987-5130
  (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

 

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

 

The following provides information regarding the Company’s financial results as reported in its third quarter earnings release regarding the third quarter of 2021 as compared to the third quarter of 2020:

 

●Net sales increased to $9.1 million, representing 104.6% growth.
oStrong wholesale gains contributed to 59.1% of net sales, increasing 198.3% year-over-year, and included new year-over-year distribution across Convenience, Food, Mass, and Dollar channels.
oStrong e-commerce gains contributed to 30.8% of net sales, increasing 50.0% year-over-year with growth across direct-to-consumer and Amazon.
●Gross profit increased to $3.3 million, representing 104.0% growth.
oGross margin held steady at approximately 36.0% versus the prior year period.
●Net loss of $8.7 million compared to net loss of $4.4 million in the prior year period.

 

   
 

 

STRYVE FOODS, INC.

(Name of Registrant as Specified in Charter)

 

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

 

Date: November 16, 2021 By /s/ Joe Oblas
    Joe Oblas
    Co-CEO