Greenwave Announces Receipt of a Staff Determination Letter from Nasdaq and That it Will Seek a Hearing & Continued Listing
Greenwave (Nasdaq: GWAV) received a Staff Determination Letter from Nasdaq on November 18, 2025 for non‑compliance with Nasdaq Listing Rule 5250(c)(1) after failing to file Form 10‑Q reports for periods ended Mar 31, 2025; Jun 30, 2025; and Sep 30, 2025. The company filed the Mar 31, 2025 Form 10‑Q on Nov 19, 2025 and says it is working to file the Jun 30 and Sep 30, 2025 reports.
The Staff letter granted an exception until Nov 17, 2025, which the company missed, and states trading will be suspended at the open on Nov 28, 2025 unless Greenwave requests an appeal by Nov 25, 2025. The company intends to request a hearing and a stay of suspension; hearings are typically scheduled ~30–45 days after request and an appeal request automatically stays suspension for at least 15 days.
Greenwave (Nasdaq: GWAV) ha ricevuto una lettera di Determinazione dello Staff da Nasdaq il 18 novembre 2025 per non conformità al Nasdaq Listing Rule 5250(c)(1) dopo aver omesso di presentare i report Form 10-Q per i periodi terminati il 31 marzo 2025; 30 giugno 2025; e 30 settembre 2025. L'azienda ha presentato il Form 10-Q per il 31 marzo 2025 il 19 novembre 2025 e afferma di lavorare per presentare i report del 30 giugno e del 30 settembre 2025. La lettera dello Staff ha concesso un'eccezione fino al 17 novembre 2025, che l'azienda ha mancato, e indica che il trading sarà sospeso all'apertura del 28 novembre 2025 a meno che Greenwave non richieda un ricorso entro il 25 novembre 2025. L'azienda intende richiedere un'udienza e una sospensione della sospensione; le udienze di solito sono fissate ~30–45 giorni dopo la richiesta e una richiesta di ricorso sospende automaticamente la sospensione per almeno 15 giorni.
Greenwave (Nasdaq: GWAV) recibió una Carta de Determinación del Personal de Nasdaq el 18 de noviembre de 2025 por incumplimiento de la Regla de Listado de Nasdaq 5250(c)(1) tras no presentar los informes Form 10-Q para los periodos vencidos el 31 de marzo de 2025; 30 de junio de 2025; y 30 de septiembre de 2025. La empresa presentó el Form 10-Q de 31 de marzo de 2025 el 19 de noviembre de 2025 y dice que está trabajando para presentar los informes de 30 de junio y 30 de septiembre de 2025. La carta del personal concedió una excepción hasta el 17 de noviembre de 2025, la cual la empresa no cumplió, y señala que el comercio será suspendido al inicio del 28 de noviembre de 2025 a menos que Greenwave solicite una apelación antes del 25 de noviembre de 2025. La empresa tiene la intención de solicitar una audiencia y una suspensión de la suspensión; las audiencias suelen programarse aproximadamente 30–45 días después de la solicitud y una solicitud de apelación suspende automáticamente la suspensión por al menos 15 días.
Greenwave(Nasdaq: GWAV)는 2025년 11월 18일 Nasdaq의 직원 결정서(Staff Determination Letter)를 받아 Nasdaq Listing Rule 5250(c)(1) 위반으로 2025년 3월 31일; 2025년 6월 30일; 2025년 9월 30일로 마감되는 기간에 대한 Form 10-Q 보고서를 제출하지 않아 비준수를 이유로 받았습니다. 회사는 2025년 3월 31일 Form 10-Q를 2025년 11월 19일에 제출했으며 2025년 6월 30일 및 2025년 9월 30일 보고서를 제출하기 위해 노력 중이라고 합니다. 직원 서한은 2025년 11월 17일까지의 예외를 부여했으나 회사가 이를 놓쳤고, 2025년 11월 28일의 개장 시 거래가 중단될 것이라고 명시되어 있으며 Greenwave가 2025년 11월 25일까지 항소를 요청하지 않으면 중단될 것이라고 합니다. 회사는 청문회를 요청하고 일시적 중단의 중단도 요청할 예정이며; 청문회는 일반적으로 요청 후 약 30~45일 정도에 일정이 잡히며 항소 요청은 자동으로 최소 15일 동안 중단을 유지합니다.
Greenwave (Nasdaq : GWAV) a reçu une lettre de détermination du personnel de Nasdaq le 18 novembre 2025 pour non-conformité à la règle de cotation Nasdaq 5250(c)(1) après n'avoir pas déposé les rapports Form 10-Q pour les périodes arrêtées au 31 mars 2025 ; 30 juin 2025 ; et 30 septembre 2025. L'entreprise a déposé le Form 10-Q du 31 mars 2025 le 19 novembre 2025 et indique qu'elle travaille à déposer les rapports du 30 juin et du 30 septembre 2025. La lettre du personnel a accordé une exception jusqu'au 17 novembre 2025, que l'entreprise a manquée, et indique que les négociations seront suspendues à l'ouverture du 28 novembre 2025 sauf si Greenwave demande un appel d'ici le 25 novembre 2025. L'entreprise a l'intention de demander une audience et une suspension de la suspension ; les audiences sont généralement prévues environ 30 à 45 jours après la demande et une demande d'appel suspend automatiquement la suspension pour au moins 15 jours.
Greenwave (Nasdaq: GWAV) erhielt am 18. November 2025 von Nasdaq einen Staff Determination Letter wegen Nichteinhaltung von Nasdaq Listing Rule 5250(c)(1) nach dem Versäumnis, Form 10-Q Berichte für die Zeiträume beendet am 31. März 2025; 30. Juni 2025; und 30. September 2025 einzureichen. Das Unternehmen reichte das Form 10-Q zum 31. März 2025 am 19. November 2025 ein und gibt an, daran zu arbeiten, die Berichte zum 30. Juni und 30. September 2025 nachzureichen. Das Staff Letter gewährte eine Ausnahme bis zum 17. November 2025, die das Unternehmen versäumt hat, und besagt, dass der Handel zum Eröffnungskurs am 28. November 2025 ausgesetzt wird, sofern Greenwave nicht bis zum 25. November 2025 einen Einspruch beantragt. Das Unternehmen beabsichtigt, eine Anhörung und eine Aussetzung der Suspension zu beantragen; Anhörungen werden typischerweise etwa 30–45 Tage nach der Anfrage angesetzt, und eine Einspruchsanfrage setzt die Suspension automatisch für mindestens 15 Tage aus.
Greenwave (ناسداك: GWAV) تلقت رسالة قرار من موظفي ناسداك في 18 نوفمبر 2025 بسبب عدم الامتثال للقواعد 5250(c)(1) للائحة الإدراج في ناسداك بعد فشلها في تقديم تقارير Form 10-Q للفترات المنتهية في 31 مارس 2025 و30 يونيو 2025 و30 سبتمبر 2025. قدمت الشركة نموذج Form 10-Q الخاص ب31 مارس 2025 في 19 نوفمبر 2025 وتقول إنها تعمل على تقديم تقارير 30 يونيو و30 سبتمبر 2025. منحت رسالة الموظفين استثناءً حتى 17 نوفمبر 2025، وهو الموعد الذي فشلته الشركة، وتذكر أن التداول سيعلق عند الافتتاح في 28 نوفمبر 2025 ما لم تطلب Greenwave استئنافاً بحلول 25 نوفمبر 2025. تعتزم الشركة طلب جلسة ونقل وقف التعليق؛ عادة ما تحدد الجلسات في غضون ~30-45 يوماً بعد الطلب، كما أن طلب الاستئناف سيوقف التعليق تلقائياً لمدة لا تقل عن 15 يوماً.
- Filed Form 10‑Q for period ended Mar 31, 2025 on Nov 19, 2025
- Intends to request a Nasdaq hearing and a stay of suspension
- Appeal request automatically stays suspension for at least 15 calendar days
- Delinquent Form 10‑Qs for Mar 31, 2025; Jun 30, 2025; Sep 30, 2025
- Missed Nasdaq exception Nov 17, 2025 for regaining compliance
- Nasdaq may suspend trading at open on Nov 28, 2025 unless appeal filed by Nov 25, 2025
Insights
Nasdaq issued a staff determination for non‑compliance; the company will appeal to stay suspension and seek time to file two missing 10-Qs.
Greenwave missed SEC periodic filings for the quarters ended
Operationally, the immediate mechanism is procedural: requesting a hearing automatically stays suspension for at least 15 days and may allow extensions pending the Hearings Panel decision, with hearings typically scheduled ~30–45 days after the request. The path to maintain listing depends strictly on timely filing of the outstanding Form 10‑Qs and any extensions the Hearings Panel grants; there is no assurance the panel will grant more time.
Watch for the company to file the
Chesapeake, VA, Nov. 20, 2025 (GLOBE NEWSWIRE) -- Greenwave Technology Solutions, Inc. (“Greenwave” or the “Company”) (Nasdaq: GWAV), an operator of metal recycling facilities in Virginia, North Carolina, and Ohio, today announced that, on November 18, 2025, the Company received a Staff Determination Letter (the “Staff Determination Letter”) from the Nasdaq Listing Qualifications Staff (the “Staff”) based on the Company's non-compliance with Nasdaq Listing Rule 5250(c)(1) (the “Filing Rule”), as previously notified by the Staff on May 23, 2025, and August 22, 2025. The basis for the Staff Determination Letter is that the Company has not yet filed its Quarterly Reports on Form 10-Q for the periods ended March 31, 2025, June 30, 2025 and September 30, 2025, with the Securities and Exchange Commission (the “SEC”).
The Company filed its Quarterly Report on Form 10-Q for the period ended March 31, 2025 on November 19, 2025 and is actively working towards the filing of the Quarterly Reports on Form 10-Q for the periods ended June 30, 2025 and September 30, 2025 to ensure full compliance with the Filing Rule.
The Staff Determination Letter noted that, after the Staff’s review of the materials submitted by the Company on September 5, 2025, it granted the Company an exception until November 17, 2025 (the “Exception Deadline Date”) to regain compliance with the Filing Rule. It further stated that since the Company failed to file the its Quarterly Reports on Form 10-Q for the periods ended March 31, 2025 and June 30, 2025 by the Exception Deadline Date and failed to file its Quarterly Report on Form 10-Q for the period ended September 30, 2025 by its due date, the trading of the Company’s securities will be suspended from the Nasdaq at the opening of business on November 28, 2025 unless the Company requests an appeal of this determination by November 25, 2025. The Staff Determination Letter has no immediate effect and will not immediately result in the suspension of trading or delisting of the Company’s securities.
The Staff Determination Letter notified the Company that it may appeal the Staff’s determination by requesting a hearing before a Nasdaq Hearings Panel (“Hearings Panel”), pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series. A request for a hearing regarding one or more delinquent filings will automatically stay the suspension of the Company’s securities for a period of at least 15 calendar days from the date of the hearing request. By Nasdaq rule, when a company requests a hearing for one or more late SEC periodic public filings, it may also request an extension of the stay pending the hearing date and subsequently during any additional extension period granted by a Hearings Panel following the hearing. Hearings are typically scheduled to occur approximately 30-45 days after the date of the hearing request. The Company intends to timely submit a request for a hearing including a stay of the suspension of the Company’s securities pending the hearing and the Hearings Panel’s decision. There can be no assurance that the Hearings Panel will grant any of the Company’s requests for additional time.
About Greenwave
Greenwave Technology Solutions, Inc., through its wholly owned subsidiary Empire Services, Inc., is an operator of 13 metal recycling facilities in Virginia, North Carolina, and Ohio. The Company’s recycling facilities collect, classify, and process raw scrap metal (ferrous and nonferrous) and implement several unique technologies to increase metal processing volumes and operating efficiencies, including a downstream recovery system and cloud-based ERP system.
Steel is one of the world’s most recycled products with the ability to be re-melted and re-cast numerous times. Recycling steel provides key environmental benefits over virgin metals, including reduced energy use, lower CO2 emissions, lower waste, and conserving natural resources. The Company’s customers include large corporations, industrial manufacturers, retail customers, and government organizations. The Company plans to aggressively expand its footprint of locations by acquiring independent, profitable scrap yards in the coming months. For more information, please visit www.GWAV.com.
Forward-looking Statements
The Company cautions you certain of the statements in this press release may represent “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. These statements are based on assumptions believed by the Company to be reasonable and speak only as of the date on which such statements are made. Without limiting the generality of the foregoing, words such as “expect,” “believe,” “anticipate,” “intend,” “plan,” “project,” “will” or “estimate,” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. Except as required by law, the Company undertakes no obligation to update such statements to reflect events or circumstances arising after such date and cautions investors not to place undue reliance on any such forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those described in the statements based on a number of factors, including but not limited to the following: that there can be no assurance that the Company will comply with Nasdaq Listing Rules during any compliance period or otherwise in the future; that there can be no assurance that the Company will otherwise meet Nasdaq compliance standards for continued listing on the Nasdaq Capital Market; that there can be no assurance that Nasdaq will grant the Company any relief from delisting as necessary or whether the Company can agree to or ultimately meet applicable Nasdaq requirements for any such relief; and other risk factors described from time to time in the Company’s Forms 10-K, Forms 10-Q, and Form 8-K reports (including all amendments to those reports).
Contact Info:
(800) 490-5020
Info@GWAV.com
FAQ
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