Liquidation: ALPINE 4 HOLDINGS, INC.

Form Type: 8-K

Filing Date: 2025-02-12

Corporate Action: Liquidation

Type: Update

Accession Number: 000109690625000145

Filing Summary: Alpine 4 Holdings, Inc. has announced its decision to cease operations and liquidate following extensive challenges in becoming compliant with regulatory requirements, significant financial strain, and an ongoing audit process. The company faced issues after changing auditors from Malone & Bailey to RSM USA in mid-2022, resulting in a costly restatement of financial statements. The prolonged audit loop hindered capital raising efforts and negatively impacted banking relationships, leading to operational challenges. Despite attempts to mitigate these issues by hiring new accounting staff and engaging auditing specialists, delays persisted, and the company is now over a year behind in its audit process. Management had previously made efforts to reorganize and divest non-performing subsidiaries to alleviate debt and protect jobs, but ultimately decided that shutting down operations is necessary. CEO Kent Wilson announced his resignation effective immediately, while he will remain on the Board to facilitate the liquidation process. The communication stresses the emotional impact of this decision and gratitude for shareholder support over the years.

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