SCOTTSDALE, Ariz., Jan. 25,
2024 /PRNewswire/ -- Adamas One Corp.
(Nasdaq: JEWL) ("Adamas One," "Adamas" or the "Company"), The
Original Lab-Grown Diamond Company™, a high-tech company that
leverages proprietary technology to produce high-quality,
single-crystal, Lab-Grown Diamonds for jewelry and diamond
materials for industrial uses, today reports that, on January 19, 2024, it received a letter from the
Listing Qualifications Department of the Nasdaq Stock Market LLC
("Nasdaq") notifying the Company that it was not in compliance with
requirements of Nasdaq Listing Rule 5250(c)(1) (the "Nasdaq Listing
Rule") as a result of not having timely filed its Annual Report on
Form 10-K for the year ended September 30, 2023 (the "Annual Report
2023 Form 10-K") with the Securities and Exchange Commission
("SEC").
This notification has no immediate effect on the listing of the
Company's common stock on Nasdaq. However, if the Company fails to
timely regain compliance with the Nasdaq Listing Rule, the
Company's common stock will be subject to delisting from
Nasdaq.
Pursuant to the notification, the Company has until March 19, 2024 to file the Annual Report 2023
Form 10-K or to submit to Nasdaq a plan to regain compliance with
the Nasdaq Listing Rule. If Nasdaq accepts the Company's plan, then
Nasdaq may grant the Company up to 180 days from the prescribed due
date for filing the Annual Report 2023 Form 10-K to regain
compliance. If Nasdaq does not accept the Company's plan, then the
Company will have the opportunity to appeal that decision to a
Nasdaq Hearings Panel.
The Company is working diligently and expects to file its Annual
Report 2023 Form 10-K shortly, which would eliminate the need for
the Company to submit a formal plan to regain compliance.
About Adamas One Corp.
Adamas is a lab-grown diamond manufacturer that produces near
flawless single-crystal diamonds for gemstone and industrial
applications, in its facilities in Greenville, South Carolina. The Company holds
36 patents and uses its proprietary chemical vapor deposition (CVD)
to grow gem-sized and smaller diamond crystals. Adamas
One™ lab-grown diamonds have the same physical, chemical
and optical properties as mined diamonds. The Company's controlled
manufacturing processes enables it to produce very high-quality,
high-purity, single-crystal colorless, near colorless and fancy
colored Type IIA diamonds to suit a variety of industrial and
gemstone applications. The Company intends to market and sell its
diamonds into the wholesale jewelry and industrial markets. For
more information, visit www.adamasone.com.
Not Mined. Not Fake. Just Sped Up Perfection. ™
Forward-Looking Statements
This press release may include "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. To the extent that the information presented in this press
release discusses financial projections, information, or
expectations about our business plans, results of operations,
products or markets, or otherwise makes statements about future
events, such statements are forward-looking. Such forward-looking
statements can be identified by the use of words such as "should",
"may," "intends," "anticipates," "believes," "estimates,"
"projects," "forecasts," "expects," "plans," and "proposes."
Although we believe that the expectations reflected in these
forward-looking statements are based on reasonable assumptions,
there are a number of risks and uncertainties that could cause
actual results to differ materially from such forward-looking
statements. You are urged to carefully review and consider any
cautionary statements and other disclosures, including the
statements made under the heading "Risk Factors" and elsewhere in
documents that we file from time to time with the Securities and
Exchange Commission. Forward-looking statements speak only as of
the date of the document in which they are contained, and Adamas
One Corp. does not undertake any duty to update any forward-looking
statements except as may be required by law. References and links
to websites have been provided as a convenience, and the
information contained on such websites is not incorporated by
reference into this press release.
For more information contact:
Investor Relations
CORE IR
Scott Arnold, Managing Partner
516 222 2560
ir@adamasone.com
Media Relations
CORE IR
Jules Abraham
917 885 7378
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SOURCE Adamas One Corp