BIMI Receives Nasdaq Notification of Non-Compliance with Listing Rule 5250(c)(1)
27 Noviembre 2023 - 7:25AM
BIMI International Medical Inc. (the “Company”) today
announced that on November 21, 2023, the Company received a
notification letter from The Nasdaq Stock Market LLC (“Nasdaq”)
stating that, because the Company has not yet filed its Quarterly
Report on Form 10-Q for the period ended September 30, 2023 (the
“Third Quarter Form 10-Q”), the Company is no longer in compliance
with Nasdaq Listing Rule 5250(c)(1). Nasdaq Listing Rule 5250(c)(1)
requires listed companies to timely file all required periodic
financial reports with the Securities and Exchange Commission. The
Nasdaq letter has no immediate effect on the listing of the
Company’s shares.
The Nasdaq letter also stated that previously
Nasdaq had granted the Company an exception until December 8, 2023,
to file its delinquent Form 10-Q for the period ended June 30, 2023
(the “Initial Delinquent Filing”). As a result, any additional
Nasdaq exception to allow the Company to regain compliance with all
delinquent filings, will be limited to a maximum of 180 calendar
days from the due date of the Initial Delinquent Filing, or
February 20, 2024.
As a result of this additional delinquency, the
Company must submit an update to its original plan to regain
compliance with respect to the filing requirement. The update
should be as definitive as possible, including plans to file the
Form 10-Q for the period ended September 30, 2023, and indicate the
progress the Company has made towards implementing the plan
submitted in connection with the Initial Delinquent Filing.
The Initial Delinquent Filing was resolved when
the Company filed its Form 10-Q for the period ended June 30, 2023
on November 22, 2023. The Company intends to resolve the deficiency
with respect to the Third Quarter Form 10-Q and regain compliance
with the Nasdaq Listing Rules.
About BIMI International Medical
Inc.BIMI International Medical Inc. is a healthcare
products and services provider, offering a broad range of
healthcare products and related services. For more information,
please visit www.usbimi.com.
Safe Harbor StatementCertain
matters discussed in this news release are forward-looking
statements that involve a number of risks and uncertainties
including, but not limited to, the Company’s ability to file its
overdue Form 10-Qs, achieve profitable operations, continue to
operate as a going concern, continue to meet NASDAQ continued
listing requirements, the effects of the spread of COVID-19, the
demand for the Company’s products and services in the People’s
Republic of China, general economic conditions and other risk
factors detailed in the Company’s annual report and other filings
with the United States Securities and Exchange Commission.
Investor Relations
ContactInvestor Relations Department of BIMI International
Medical Inc.
Email: vinson@usbimi.com
Tel: +1 949 981 6274
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