DriveItAway Holdings Deregisters Common Stock, Suspends SEC Reporting

What Happened

• DriveItAway Holdings, Inc. announced that on August 17, 2026 its Board concluded it was in the company’s and stockholders’ best interests to voluntarily terminate registration of its common stock under Section 12(g) of the Exchange Act and to suspend reporting under Sections 13(a) and 15(d).
• The company filed a Form 15 with the SEC on August 18, 2026. Upon that filing, the company’s obligation to file periodic reports with the SEC (including Forms 10-K, 10-Q and 8-K) was immediately suspended. The deregistration is expected to become effective about 90 days after the Form 15 filing (or sooner if the SEC so determines).
• The Board said the action was based on the company being eligible (the common stock is held of record by fewer than 300 persons) and on its view that compliance costs and demands of being a fully reporting company are not justified given the company’s size and resources.

Key Details

• Board decision date: August 17, 2026; Form 15 filed: August 18, 2026.
• Eligibility: common stock held of record by fewer than 300 persons.
• Immediate effect: suspension of obligation to file 10-Ks, 10-Qs and 8-Ks upon Form 15 filing.
• Next steps: deregistration expected ~90 days after filing; company intends to provide financial and other current information via the OTC Markets Alternative Reporting Standard and remain quoted on the OTC Markets current-information tier.

Why It Matters

• For investors, DriveItAway will no longer be required to file SEC periodic reports, which reduces the amount of standardized, SEC-filed disclosure available about the company after the suspension takes effect.
• The company says this will lower compliance costs and free resources for operations; it plans to continue sharing financial information through OTC Markets’ alternative reporting so shareholders can still access company disclosures.
• Deregistration can affect visibility and potentially liquidity (fewer institutional buyers often trade deregistered issuers), so current and prospective investors should monitor the company’s OTC disclosures and any subsequent filings for ongoing financial information.