Adamas One Corp.: Nasdaq/NYSE listing notice — Adamas One faces Nasdaq delisting after failing bid price rule, will request hearing

Adamas One Corp.

On April 11, 2024, Nasdaq notified Adamas One of noncompliance with minimum bid price rule (Rule 5550(a)(2)) after failing to regain compliance by April 9, 2024.
Company is not eligible for second 180-day compliance period due to failure to meet $5M minimum stockholders' equity requirement as of Dec 31, 2023.
Adamas One will request a hearing before the Nasdaq Hearings Panel to stay delisting; Panel can grant extension until Oct 8, 2024.
No assurance that the Panel will grant the request or that compliance will be regained.

item 3.01 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 0.98

Adamas One Corp. received a nasdaq delisting notice notice regarding minimum bid price (rules 5550(a)(2)).

Exchange: nasdaq
Notice: delisting notice
Deficiency: minimum bid price
Rules: 5550(a)(2)

Exact text from the filing

April 11, 2024, the Company received notification that it had failed to regain compliance with the Rule and is not eligible for a second 180 day compliance period because of its failure to comply with the $5 million minimum stockholders’ equity initial listing requirement for the period ended December 31, 2023. Unless the Company timely requests a hearing before an independent Nasdaq Hearings Panel (the “Panel”), the Company’s securities will be subject to delisting. Accordingly, the Company will request a hearing before the Panel. The hearing request will automatically stay any suspension or

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Source: SEC EDGAR

accession 0001199835-24-000163

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