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Forafric Global Delays 20-F Amid Revenue Slump
Forafric Global (AFRI) has delayed the filing of its Form 20-F (Yearly Report) for the financial year ended December 31, 2025, due to needing more time to finalize its financial statements. The company anticipates a sharp revenue decline for 2025, with sales estimated at $160 million to $180 million, significantly down from $274.2 million in 2024, primarily due to lower crushed volumes of wheat in Morocco and an overall decrease in sales. Management clarified that the delay is procedural, not indicative of an auditor change or internal control failure, and expects to file within the 15-day extension period.