Wrap Technologies Receives Nasdaq Notification of Non-Compliance With Listing Rule 5250(c)(1)
Wrap Technologies Receives Nasdaq Notification of Non-Compliance With Listing Rule 5250(c)(1)
MIAMI, April 19, 2024 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (Nasdaq: WRAP) ("Wrap" or the "Company"), the makers of BolaWrap and the innovative public safety solutions platform powered by artificial intelligence ("AI"), virtual reality and data, today reports that it has received a letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it is not in compliance with the requirements of Nasdaq Listing Rule 5250(c)(1) as a result of not having timely filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the "Form 10-K"), with the Securities and Exchange Commission ("SEC").
邁阿密，2024年4月19日（環球新聞專線）——BolaWrap和由人工智能（“AI”）、虛擬現實和數據提供支持的創新公共安全解決方案平台的製造商Wrap Technologies, Inc.（納斯達克股票代碼：WRAP）（“Wrap” 或 “公司”）今天報告說，它已收到納斯達克股票市場有限責任公司（“納斯達克”）上市資格部門的來信，通知該公司不是符合《納斯達克上市規則》第 5250 (c) (1) 條的要求，因爲沒有及時提交其 10-K 表格的年度報告美國證券交易委員會（“SEC”）截至2023年12月31日的財政年度（“10-K表格”）。
This notification has no immediate effect on the listing of the Company's common stock on the Nasdaq. However, if the Company fails to timely regain compliance with this Nasdaq Listing Rule, the Company's common stock will be subject to delisting from Nasdaq.
該通知對公司普通股在納斯達克的上市沒有立即影響。但是，如果公司未能及時恢復對本《納斯達克上市規則》的遵守，則該公司的普通股將被從納斯達克退市。
Under the Nasdaq rules, the Company has 60 calendar days 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 until October 14, 2024 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.
根據納斯達克規則，公司有60個日曆日的時間向納斯達克提交恢復遵守納斯達克上市規則的計劃。如果納斯達克接受該公司的計劃，那麼納斯達克可能會批准該公司在2024年10月14日之前恢復合規。如果納斯達克不接受公司的計劃，那麼公司將有機會向納斯達克聽證小組對該決定提出上訴。