SCOTTSDALE, AZ – Adamas One Corp. (NASDAQ:JEWL), an organization specializing in jewellery, silverware, and plated ware, has been granted an extension by the Nasdaq Hearings Panel to handle its non-compliance with a number of Nasdaq Itemizing Guidelines, in keeping with a current SEC submitting. The corporate, which is headquartered in Scottsdale, Arizona, confronted delisting because of not assembly the minimal bid worth requirement, failing to pay required charges, and delays in submitting periodic experiences.
The Panel’s resolution, obtained by Adamas One on Monday, permits the corporate to proceed its itemizing on The Nasdaq Capital Market, supplied it meets particular situations by set deadlines. By July 29, 2024, Adamas One should resolve its submitting delinquencies to adjust to the Periodic Submitting Rule. Moreover, by August 30, 2024, the corporate is required to show a minimal closing bid worth of $1.00 or extra per share for no less than ten consecutive buying and selling periods to satisfy the Bid Value Rule.
Adamas One has expressed its intention to submit a plan to regain compliance and keep the itemizing of its widespread inventory on Nasdaq. Whereas the Panel has granted the extension, there isn’t any assure that Adamas One will fulfill the required situations for continued itemizing.
The corporate’s President and CEO, John G. Grdina, signed off on the SEC submitting, formalizing the report of the Panel’s resolution. Adamas One’s inventory, buying and selling beneath the image JEWL, will stay beneath scrutiny as the corporate works towards assembly Nasdaq’s necessities inside the given timeframe. The data relies on the most recent SEC submitting by Adamas One Corp.
In different current information, Adamas One Corp. has been making important strides in its operations. The corporate lately shaped an advisory board for its subsidiary, Adamas One Applied sciences, to information the exploration of lab-grown diamonds for semiconductor purposes. This board contains business specialists with in depth backgrounds in semiconductor know-how and associated fields. Jerry McGuire, the COO of Adamas One Corp., and President of Adamas One Applied sciences, is among the many newly appointed members.
Adamas One Corp. has additionally been granted an extension by NASDAQ to regain compliance with the change’s itemizing necessities. The corporate now has till Could 20, 2024, to file overdue monetary experiences. CEO Jay Grdina expressed confidence in assembly the deadline and emphasised the corporate’s dedication to transparency and regulatory adherence.
Nonetheless, Adamas One Corp. is at the moment dealing with potential delisting from the NASDAQ Inventory Market because of noncompliance with the change’s minimal bid worth requirement. The corporate intends to request a listening to earlier than an impartial NASDAQ Hearings Panel to current a method to regain compliance.
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