DZS INC.: Nasdaq/NYSE listing notice — DZS receives Nasdaq delinquency notice for late 10-Q; restating Q1 2023 financials

DZS INC.

Nasdaq notice on Aug 15, 2023 for missing extended Q2 10-Q filing deadline (Listing Rule 5250(c)(1)).
Audit Committee reviewing revenue recognition; restating unaudited Q1 2023 financials.
Company must submit compliance plan by Oct 16, 2023; Nasdaq may extend until Feb 5, 2024.
No immediate delisting, but failure to regain compliance could lead to suspension.
Restatement scope preliminary; additional periods may be affected.

item 3.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

DZS INC. received a nasdaq deficiency notice notice regarding late filing (rules 5250(c)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: late filing
Rules: 5250(c)(1)

Exact text from the filing

August 15, 2023, DZS Inc. (the “Company”) received a delinquency notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, as a result of the Company’s delay in filing its Quarterly Report on Form 10-Q for the period ended June 30, 2023 (the “Form 10-Q”), the Company is not in compliance with the timely filing requirement for continued listing under Nasdaq Listing Rule 5250(c)(1). The notification letter has no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq Capital Market. The Company filed

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Source: SEC EDGAR

accession 0001101680-23-000098

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