Key Highlights

● Maison Solutions has missed two periodic filings, its 10-K and its 10-Q.

● Its Nasdaq compliance plan is due October 19, 2026.

● Nasdaq can grant an exception of up to 180 days, to February 9, 2027.

● Third-quarter fiscal 2026 revenue was $29.5 million, with a net loss of $5.2 million.

Maison Solutions Inc (NASDAQ:MSS), the Asian-focused grocery chain, has now missed two periodic filings, and the date by which it must tell Nasdaq how it will catch up is only days away. In announcements on August 25 and September 29, 2026, the company said it had received notices under Nasdaq Listing Rule 5250(c)(1), which requires timely filing of reports with the US Securities and Exchange Commission. The plan is due by October 19, 2026.

What the notices say

The first notice, dated August 20, 2026, concerned the annual report on Form 10-K for the fiscal year ended April 30, 2026. A second, dated September 23, 2026, related to the quarterly report on Form 10-Q for the quarter ended July 31, 2026. The company said the earlier plan deadline of October 19, 2026 was unchanged.

If Nasdaq accepts the plan, it can grant an exception of up to 180 calendar days from the 10-K due date, which would run to February 9, 2027, by which time both reports must be filed. If the plan is rejected, the company may appeal to a Nasdaq Hearings Panel.

The notices have no immediate effect on trading: the Class A common stock continues to trade on the Nasdaq Capital Market under the symbol MSS. The company said it is "working diligently to regain compliance with Nasdaq's listing rules". The announcements did not explain why the filings are late.

The business behind the ticker

Maison Solutions is a US specialty grocery retailer serving mainly Asian American communities, with stores in Southern California and Arizona under the HK Good Fortune and Lee Lee International banners.

Its most recent full set of quarterly figures available is for the third quarter of fiscal 2026, ended January 31, 2026 and reported on March 17, 2026. Revenue was $29.5 million, down from $32.3 million a year earlier, which the company attributed mainly to closing underperforming stores. Net loss was $5.2 million, including about $3.9 million of non-cash or non-recurring items, among them a $1.9 million one-time bad debt provision and an unrealized loss on holdings of the Worldcoin cryptocurrency.

Gross margin improved to 25.5% from 21.8%, and gross profit rose 7.0% to $7.5 million. Cash and equivalents were $1.5 million at January 31, 2026, compared with $0.8 million at April 30, 2025. Chief executive John Xu said the results showed "the successful execution of our 'Quality over Quantity' strategy", and described an early-stage plan to use artificial intelligence for shelf display and supply-chain management.

Risks to weigh

Late filings leave investors without audited year-end figures for the year to April 30, 2026, which makes it harder to judge the effect of store closures and one-off charges. The same March release flagged that the company needed to regain compliance with Nasdaq's minimum bid price requirement, with eligibility for an extension to July 6, 2026.

In late August 2026 the company said it had eliminated all outstanding convertible notes.

Decisions Due After October 19

Maison Solutions has received two Nasdaq notices under Listing Rule 5250(c)(1), the first on August 20, 2026 over its Form 10-K for the fiscal year ended April 30, 2026 and the second on September 23, 2026 over its Form 10-Q for the quarter ended July 31, 2026. If Nasdaq accepts its plan, the exception can run up to 180 calendar days from the 10-K due date, to February 9, 2027, by which time both reports must be filed.

The key date is October 19, 2026, when the compliance plan is due. After that, investors can watch for Nasdaq's decision on the extension and for the overdue Form 10-K and Form 10-Q, which should explain the delay and give a fuller view of trading to April 30 and July 31, 2026.