This SeekingAlpha article’s author thinks:
After learning abou the Hindenburg Reserach report, Super Micro’s auditors likely declined to sign off on the company’s annual report without management addressing allegations of improper revenue recognition and circumvention of internal controls.
He goes on to say that he himself wasn’t impressed with the Hindenburg report, but the subsequnt delay is a “major red flag” and it could take several months or quarters to work though all the numbers.
Apparently, there’s an automatic 15-day grace period for filing the 10K. Do we think SMCI will be able file within two weeks now?
As for previous questions on the business survival, the SA author pointed out that SMCI will continue to need additional capital to fund its expansion efforts. That’s going to be a lot harder to raise now.