BIMI Receives Nasdaq Notification Of Non-Compliance With Listing Rule 5250(c)(1)
Portfolio Pulse from Benzinga Newsdesk
BIMI International Medical Inc. received a notification from Nasdaq for non-compliance with Listing Rule 5250(c)(1) due to not filing its Q3 Form 10-Q. The company had previously been granted an extension to file its Q2 Form 10-Q, which it has now filed. BIMI must submit an updated plan to regain compliance, with a deadline of February 20, 2024, to file all delinquent reports.
November 27, 2023 | 1:25 pm
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BIMI International Medical Inc. is at risk of Nasdaq delisting if it fails to file its overdue Q3 Form 10-Q by February 20, 2024. The company has resolved its Q2 filing delinquency.
The non-compliance notification from Nasdaq is a negative signal to investors, indicating potential governance or operational issues. While the Q2 delinquency has been resolved, the ongoing Q3 filing delay could lead to further regulatory action, including delisting, which would negatively impact the stock price in the short term.
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