READ BELOW.THE 180 DAYS ARE GONE.THEY CAN GET A LETTER ANY DAY NOW FROM NASDAQ TO GET DELETED.MMs AND SHORT SELLERS KNOW THIS.THUS A HUGE SHORT IN THE STOCK LAST FEW MONTHS.THEY ARE EITHER FORCING A R/S TO GET BACK TO $1.00 AREA.OR THE COMPANY LETS IT FALL TO OTC.AND FILE FOR NASDAQ AT A LATER TIME.IN MY BOOK THE INSIDERS ARE STUPID LOSERS THAT THEY LET IT FALL TO THIS SITUATION.UNREAL.
What Is the Delisting Process for the NASDAQ?
Under what circumstances can a company be delisted from the NASDAQ, and what is the procedure?
Companies that want to list their stocks on the NASDAQ need to meet a pretty long list of continuing requirements. Just to name a few of them, listed companies are required to:
Maintain a share price over $1.00
Maintain a $1 million valuation for all publicly held shares
Have a minimum number of stockholders – as low as 300, but varies depending on the type of listing
Maintain a minimum amount of stockholder's equity or minimum market value of all listed securities or produce net income above a specified minimum
Distribute annual reports to shareholders
Have a majority of independent directors on the company's board
Have an audit committee consisting solely of independent directors
Adopt a code of conduct applicable to all directors, officers, and employees
Hold an annual meeting of shareholders
Disclose all "material news" – defined as information that would reasonably be expected to affect the stock's value or influence investors' decisions
Pay annual listing fees, which range from $32,000 to $155,000
If any of these, or any other published requirements of the NASDAQ, are not met for a period of 30 consecutive days, the exchange can start delisting procedures.
Deficiency notice
If a company is in violation of the continued listing standards for a period of 30 consecutive days, the NASDAQ sends a "deficiency notice." The most common reasons for a deficiency notice are a share price that falls below $1.00 or a market cap that falls below the stated minimum (as low as $5 million if other requirements are satisfied).
Once a deficiency notice has been sent, the company has 90 days to comply with the continued listing standards, or 180 days if the violation was for a sub-$1.00 share price. In order to be compliant, the company's share price or market cap must rise above the minimum for at least 10 consecutive days in the 90-day (or 180-day) period.
Of course, becoming compliant for violating some of the other requirements is pretty straightforward. For example, if a company receives a deficiency notice for failing to pay its listing fee, the fix is obvious -- pay the fee.
If the company fails to comply
If the conditions that triggered the deficiency notice are not met in time, the NASDAQ will then send the company a delisting letter, which must be disclosed to the public within four business days.
There is an appeal procedure that a company can use, if it feels that it doesn't deserve to be delisted or if it can regain compliance in a reasonable amount of time. Once the company receives the delisting letter, it has seven days to request a hearing with the NASDAQ listing qualification panel to present its case, which postpones the delisting process until the panel makes a decision.
Unless an appeal is filed, the company's stock is halted, and then delisted after seven days. If the appeal is rejected, the company also has the option to appeal to the SEC or in federal court. The NASDAQ gives the company an additional 15 days to do so, but begins its final delisting procedures during that time.
What happens after a company is delisted?
Keep in mind that the delisting of a company doesn't mean that the stock can't continue to trade. Delisted companies can choose to be listed on the over-the-counter (OTC) markets or on the pink sheets. There are some negative implications resulting from delisting, such as a loss of investor confidence, and potentially reduced access to capital, but it's not necessarily a death sentence. Companies can (and have) return to compliance and relist on the NASDAQ after delisting.
Recent JAGX News
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 08/13/2024 03:02:37 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/13/2024 12:13:39 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/23/2024 12:05:13 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/18/2024 10:15:36 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/16/2024 09:18:24 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/10/2024 04:19:15 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 05/31/2024 10:30:50 AM
- Form ARS - Annual Report to Security Holders • Edgar (US Regulatory) • 05/28/2024 10:03:46 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/23/2024 10:20:41 AM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 05/23/2024 10:05:54 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/21/2024 09:04:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/21/2024 09:03:39 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/21/2024 09:02:24 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/21/2024 09:01:25 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 05/21/2024 01:02:32 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/14/2024 10:41:41 AM
- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 05/10/2024 09:07:07 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/08/2024 10:00:33 PM
- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 03/05/2024 12:00:14 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/01/2024 10:30:56 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/16/2024 09:13:11 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/01/2023 10:25:44 PM
- FILAMENT HEALTH ANNOUNCES THIRD QUARTER 2023 FINANCIAL RESULTS AND OPERATIONAL HIGHLIGHTS • PR Newswire (Canada) • 11/15/2023 02:00:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/08/2023 10:03:21 PM
FEATURED Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • Sep 24, 2024 8:50 AM
FEATURED Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM