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COMSovereign Holding Corp. (NASDAQ: COMS, COMSP) announced on October 5, 2022, that it received a notice from Nasdaq regarding potential delisting due to a closing bid price below $0.10 for 10 consecutive trading days and non-compliance with filing requirements. The company plans to request a hearing before the Nasdaq Hearings Panel to contest this decision and seek a stay of further actions. This follows the company's efforts to improve its compliance and maintain its listing status on the exchange.
COMSovereign Holding Corp. (NASDAQ: COMS, COMSP) announced on August 25, 2022, that it received a notice from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1) for failing to file its Quarterly Report on Form 10-Q for Q2 2022. The delay arose from complex valuations due to six acquisitions, including two outside the U.S. The company previously received an extension to file its Form 10-K by September 1, 2022. An update to its compliance plan is also required by that date following this additional filing delinquency.
COMSovereign Holding Corp. (NASDAQ: COMS, COMSP) has announced a suspension of dividends on its 9.25% Series A Cumulative Redeemable Perpetual Preferred Stock. This decision comes after the payment of the May 2022 dividend, previously announced. The Board aims to preserve cash while finalizing the audit of its Annual Report for the year ended December 31, 2021, and seeking to sell non-core business operations. The suspension will last until further notice, with dividends accruing until authorized or declared in the future.
COMSovereign Holding Corp. (NASDAQ: COMS, COMSP) announced it received a non-compliance notice from Nasdaq due to late filings of its Annual Report on Form 10-K and Quarterly Report on Form 10-Q. The delay is attributed to complexities arising from six acquisitions made in the last fiscal year, which required outside valuations and impairment appraisals. The company has until June 20, 2022, to submit a compliance plan, with a potential extension until October 12, 2022, if accepted by Nasdaq.
COMSovereign Holding Corp. (NASDAQ: COMS, COMSP) announced it is non-compliant with Nasdaq Listing Rule 5250(c)(1) due to its failure to file the Annual Report on Form 10-K by the March 31, 2022 deadline. The delay stems from six acquisitions in the past year, including two outside the U.S., complicating necessary valuations under U.S. GAAP. COMSovereign has 60 days to submit a compliance plan and expects to file the Form 10-K within 30 days, aiming to regain compliance by October 12, 2022.
COMSovereign Holding Corp. (NASDAQ: COMS, COMSP) announced the departure of CFO Fran Jandjel due to personal commitments. The company has initiated a search for a new CFO while retaining a senior financial professional to assist with its annual report for 2021. CEO Dan Hodges expressed gratitude for Jandjel's leadership during a challenging period. The company's focus remains on developing advanced communication technologies for 4G LTE and 5G systems.
COMSovereign Holding Corp. (NASDAQ: COMS, COMSP) has announced a cash dividend of $0.1927 per share on its 9.25% Series A Cumulative Redeemable Perpetual Preferred Stock. This dividend is set to be paid on May 20, 2022, to shareholders of record as of April 29, 2022. The Board of Directors authorized this dividend to enhance shareholder value while highlighting the company's commitment to its investors.
COMSovereign Holding Corp. (NASDAQ: COMS, COMSP) will exhibit at the International Wireless Communications Expo (IWCE) from March 21-24, 2022, in Las Vegas. The company will showcase its secure wireless network technology, including Fastback microwave radios and FeatherLite™ 4G LTE solutions, alongside its HoverMast drone for temporary networks. IWCE, North America's premier mission-critical communications event, attracts professionals from public safety and various sectors. For more details, visit www.COMSovereign.com.
COMSovereign Holding Corp. (NASDAQ: COMS, COMSP) announced that Dr. Scott Velazquez, Chief Research Officer, will present three whitepapers at the GOMACTech 2022 conference from March 21-24. The whitepapers focus on advanced communication technologies, including Lextrum's ASTARA™ In-Band Full Duplex antenna, TM Technologies' Transpositional Modulation for enhanced spectral efficiency, and VEO's innovative modulator and photodetector designs. These technologies aim to improve the efficiency of 5G communications and optical networking, showcasing COMSovereign's commitment to advancing telecommunications solutions.
COMSovereign Holding Corp. (NASDAQ: COMS, COMSP) announced its participation in the Aegis Capital Virtual Conference on February 24, 2022, at 12:00 PM ET. The company, specializing in 4G LTE and 5G communication systems, will be represented by its Chairman and CEO, Dan Hodges, who will present and engage in a Q&A session. Presentation materials will be available on the company's Investor Relations page. The conference aims to enhance investor engagement and share insights into the company's performance and future prospects.