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Cosmos Health Regains Full Compliance with Nasdaq Listing Requirements

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Cosmos Health (NASDAQ:COSM) has regained full compliance with Nasdaq listing requirements. The company addressed two key issues:

1. Filing Compliance: Cosmos filed its 2023 Annual Report (Form 10-K) and Q1 2024 financial results (Form 10-Q), resolving concerns raised in Nasdaq's notification letters from April and May 2024.

2. Minimum Bid Price Rule: The company met this requirement earlier in July 2024.

CEO Greg Siokas expressed satisfaction with the company's return to full compliance across all Nasdaq listing requirements. This development marks a positive turn for Cosmos Health, a diversified healthcare group involved in R&D, pharmaceutical and nutraceutical brands, healthcare product distribution, and telehealth services.

Cosmos Health (NASDAQ:COSM) ha ripristinato il pieno rispetto dei requisiti di quotazione di Nasdaq. L'azienda ha affrontato due questioni chiave:

1. Conformità al deposito: Cosmos ha presentato il suo Rapporto Annuale 2023 (Modulo 10-K) e i risultati finanziari del Q1 2024 (Modulo 10-Q), risolvendo le preoccupazioni sollevate nelle lettere di notifica di Nasdaq da aprile e maggio 2024.

2. Regola del prezzo minimo di offerta: L'azienda ha soddisfatto questo requisito all'inizio di luglio 2024.

Il CEO Greg Siokas ha espresso soddisfazione per il ritorno dell'azienda alla piena conformità con tutti i requisiti di quotazione di Nasdaq. Questo sviluppo segna una svolta positiva per Cosmos Health, un gruppo sanitario diversificato coinvolto in R&S, marchi farmaceutici e nutraceutici, distribuzione di prodotti sanitari e servizi di telemedicina.

Cosmos Health (NASDAQ:COSM) ha recuperado el pleno cumplimiento de los requisitos de cotización de Nasdaq. La empresa abordó dos problemas clave:

1. Cumplimiento de presentación: Cosmos presentó su Informe Anual 2023 (Formulario 10-K) y los resultados financieros del Q1 2024 (Formulario 10-Q), resolviendo las preocupaciones planteadas en las cartas de notificación de Nasdaq de abril y mayo de 2024.

2. Regla del precio mínimo de oferta: La empresa cumplió con este requisito a principios de julio de 2024.

El CEO Greg Siokas expresó su satisfacción por el regreso de la empresa al pleno cumplimiento de todos los requisitos de cotización de Nasdaq. Este desarrollo marca un giro positivo para Cosmos Health, un grupo de atención médica diversificado que participa en I+D, marcas farmacéuticas y nutracéuticas, distribución de productos de salud y servicios de telemedicina.

코스모스 헬스 (NASDAQ:COSM)는 나스닥 상장 요건을 완전히 준수하게 되었습니다. 회사는 두 가지 주요 문제를 해결했습니다:

1. 제출 준수: 코스모스는 2023 연례 보고서(폼 10-K)와 2024년 1분기 재무 결과(폼 10-Q)를 제출하여 2024년 4월과 5월에 나스닥의 통지서에서 제기된 우려를 해결했습니다.

2. 최소 공모가 규정: 회사는 2024년 7월 초에 이 요건을 충족했습니다.

CEO 그렉 시오카스는 회사가 나스닥 상장 요건을 모두 완전히 준수하게 된 것에 대해 만족감을 표명했습니다. 이 발전은 연구개발, 제약 및 건강기능식품 브랜드, 건강 제품 유통, 원격 의료 서비스에 참여하는 다각화된 헬스케어 그룹인 코스모스 헬스에 긍정적인 전환점을 나타냅니다.

Cosmos Health (NASDAQ:COSM) a retrouvé sa pleine conformité avec les exigences de cotation de Nasdaq. L'entreprise a traité deux problèmes clés :

1. Conformité de dépôt: Cosmos a déposé son Rapport Annuel 2023 (Formulaire 10-K) et les résultats financiers du T1 2024 (Formulaire 10-Q), ce qui a résolu les préoccupations soulevées dans les lettres de notification de Nasdaq d'avril et mai 2024.

2. Règle du prix minimum d'offre: L'entreprise a satisfait à cette exigence début juillet 2024.

Le CEO Greg Siokas a exprimé sa satisfaction quant au retour de l'entreprise à la pleine conformité avec toutes les exigences de cotation de Nasdaq. Ce développement marque un tournant positif pour Cosmos Health, un groupe de santé diversifié impliqué dans la R&D, les marques pharmaceutiques et nutraceutiques, la distribution de produits de santé et les services de télémédecine.

Cosmos Health (NASDAQ:COSM) hat die volle Compliance mit den Nasdaq-Listing-Anforderungen wiederhergestellt. Das Unternehmen hat zwei wichtige Themen angesprochen:

1. Einreichungs-Compliance: Cosmos hat seinen Jahresbericht 2023 (Formular 10-K) und die Finanzergebnisse für das Q1 2024 (Formular 10-Q) eingereicht und damit die Bedenken aus den Benachrichtigungsschreiben von Nasdaq aus April und Mai 2024 ausgeräumt.

2. Mindestgebotsregel: Das Unternehmen hat diese Anforderung bereits Anfang Juli 2024 erfüllt.

CEO Greg Siokas äußerte seine Zufriedenheit mit der Rückkehr des Unternehmens zur vollständigen Compliance aller Nasdaq-Listing-Anforderungen. Diese Entwicklung markiert eine positive Wende für Cosmos Health, eine diversifizierte Gesundheitsgruppe, die in Forschung und Entwicklung, pharmazeutische und nutraceutical Marken, Vertrieb von Gesundheitsprodukten und Telemedizin tätig ist.

Positive
  • Regained full compliance with Nasdaq listing requirements
  • Successfully filed 2023 Annual Report and Q1 2024 financial results
  • Met Nasdaq's Minimum Bid Price Rule in July 2024
Negative
  • None.

Insights

Cosmos Health's regained compliance with Nasdaq listing requirements is a positive development for the company. This resolution eliminates the immediate risk of delisting, which could have severely impacted investor confidence and the company's ability to raise capital. The timely filing of both the Annual Report and First Quarter Report demonstrates improved financial management and transparency. However, investors should note that compliance alone doesn't indicate financial health or growth prospects. It's important to analyze the content of these reports to assess Cosmos Health's actual financial performance and future outlook. The company's diversified healthcare portfolio and recent compliance might provide a more stable foundation, but careful examination of revenue trends, profitability and market positioning is necessary for a comprehensive investment decision.

From a legal standpoint, Cosmos Health's compliance with Nasdaq's Filing Rule is significant. It demonstrates the company's ability to meet regulatory requirements and maintain its listing status. This compliance reduces legal and regulatory risks associated with potential delisting proceedings. However, investors should be aware that maintaining compliance is an ongoing obligation. The company must continue to meet all Nasdaq requirements, including timely filings and maintaining minimum bid price. It's worth noting that the company also met the Minimum Bid Price Rule earlier in July, which is another positive legal aspect. Moving forward, monitoring the company's ability to consistently meet these requirements will be crucial. Any future non-compliance could lead to renewed listing issues and potential legal challenges.

CHICAGO, IL / ACCESSWIRE / August 23, 2024 / Cosmos Health Inc. ("Cosmos Health" or the "Company'') (NASDAQ:COSM), a diversified, vertically integrated global healthcare group engaged in innovative R&D, owner of proprietary pharmaceutical and nutraceutical brands, manufacturer and distributor of healthcare products, and operator of a telehealth platform, announced today that the Company has regained compliance with Listing Rule 5250(c)(1) (the "Filing Rule"), in connection with the filing of its 2023 Annual Report on Form 10-K (the "Annual Report") and its financial results for the first quarter ended March 31, 2024, on Form 10-Q (the "First Quarter Report").

On April 17 and May 21, 2024, the Company received notification letters (the "Notification Letters") from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq") stating that it no longer met the periodic filing requirement for The Nasdaq Stock Market Filing Rule.

Based on the August 5 and August 19, 2024, filings of the Company's Form 10-K for the year ended December 31, 2023, and Form 10-Q for the period ended March 31, 2024, Nasdaq has determined that the Company complies with the Filing Rule. Accordingly, this matter is now closed.

Greg Siokas, CEO of Cosmos Health, stated: "We are extremely pleased to have regained compliance with Nasdaq, both in terms of filing our Annual Report and First Quarter Report, and meeting Nasdaq's Minimum Bid Price Rule earlier in July. As a result, Cosmos is now fully compliant with all Nasdaq listing requirements."

About Cosmos Health Inc.

Cosmos Health Inc. (Nasdaq:COSM), incorporated in 2009 in Nevada, is a diversified, vertically integrated global healthcare group. The Company owns a portfolio of proprietary pharmaceutical and nutraceutical brands, including Sky Premium Life®, Mediterranation®, bio-bebe® and C-Sept®. Through its subsidiary Cana Laboratories S.A., licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency (EMA), it manufactures pharmaceuticals, food supplements, cosmetics, biocides, and medical devices within the European Union. Cosmos Health also distributes a broad line of pharmaceuticals and parapharmaceuticals, including branded generics and OTC medications, to retail pharmacies and wholesale distributors through its subsidiaries in Greece and the UK. Furthermore, the Company has established R&D partnerships targeting major health disorders such as obesity, diabetes, and cancer, enhanced by artificial intelligence drug repurposing technologies, and focuses on the R&D of novel patented nutraceuticals, specialized root extracts, proprietary complex generics, and innovative OTC products. Cosmos Health has also entered the telehealth space through the acquisition of ZipDoctor, Inc., based in Texas, USA. With a global distribution platform, the Company is currently expanding throughout Europe, Asia, and North America, and has offices and distribution centers in Thessaloniki and Athens, Greece, and in Harlow, UK. More information is available at www.cosmoshealthinc.com, www.skypremiumlife.com, www.cana.gr, www.zipdoctor.co, as well as LinkedIn and X.

Forward-Looking Statements

With the exception of the historical information contained in this news release, the matters described herein, may contain 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. Statements preceded by, followed by, or that otherwise, include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could", are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company's ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic and the war in Ukraine, on the Company's business, operations and the economy in general, and the Company's ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's filings with the SEC, which are available at the SEC's website (www.sec.gov). The Company disclaims any intention or obligation to update, or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations Contact:

BDG Communications
cosm@bdgcommunications.com
+44 207 0971 653

SOURCE: Cosmos Health Inc.



View the original press release on accesswire.com

FAQ

What Nasdaq compliance issues did Cosmos Health (COSM) resolve in August 2024?

Cosmos Health resolved two main compliance issues: 1) Filing compliance by submitting its 2023 Annual Report and Q1 2024 financial results, and 2) Meeting the Minimum Bid Price Rule, which was achieved earlier in July 2024.

When did Cosmos Health (COSM) receive notification letters from Nasdaq regarding compliance issues?

Cosmos Health received notification letters from Nasdaq on April 17 and May 21, 2024, stating that the company no longer met the periodic filing requirement for The Nasdaq Stock Market Filing Rule.

What specific reports did Cosmos Health (COSM) file to regain Nasdaq compliance in August 2024?

Cosmos Health filed its Form 10-K (Annual Report) for the year ended December 31, 2023, on August 5, 2024, and its Form 10-Q (First Quarter Report) for the period ended March 31, 2024, on August 19, 2024.

How did Cosmos Health's (COSM) CEO react to regaining Nasdaq compliance in August 2024?

CEO Greg Siokas stated that the company was 'extremely pleased' to have regained compliance with Nasdaq, both in terms of filing requirements and meeting the Minimum Bid Price Rule, resulting in full compliance with all Nasdaq listing requirements.

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