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Ideanomics Announces Receipt of Notice from Nasdaq Regarding Late Filing of Quarterly Report on Form 10-Q

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On May 24, 2024, Ideanomics (NASDAQ: IDEX) announced receiving a notice from Nasdaq's Listing Qualifications department due to its failure to file the Form 10-Q for the period ending on March 31, 2024. This non-compliance with Nasdaq Listing Rules threatens its continued listing on the exchange.

Ideanomics is actively working to regain compliance and will provide updates as more information becomes available.

Positive
  • Ideanomics is actively working to regain Nasdaq compliance.
  • The company is committed to providing updates to shareholders.
Negative
  • Ideanomics failed to file its Form 10-Q for the period ending March 31, 2024.
  • The company received a non-compliance notice from Nasdaq.
  • Continued listing on Nasdaq is currently in jeopardy.

New York, May 24, 2024 (GLOBE NEWSWIRE) -- Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company") today announced that on May 21, 2024, the Company received a notice (the "10-Q Notice") from the staff of the Nasdaq Listing Qualifications department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") stating that because the Company has not yet filed its Form 10-Q for the period ended March 31, 2024 (the "Form 10-Q"), the Company is not in compliance with Nasdaq Listing Rules for continued listing.

The Company is working diligently to regain compliance and will provide an update once more information is available.

About Ideanomics

Ideanomics (NASDAQ: IDEX) is a global group with a simple mission: to accelerate the commercial adoption of electric vehicles. By bringing together vehicles and charging technology we provide solutions for the commercial world to commit to an EV future. To keep up with Ideanomics, please follow the company on social @ideanomicshq or visit: https://ideanomics.com.


Safe Harbor Statement

Any statements contained in this press release that do not describe historical facts may constitute 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, including statements regarding the expected timing for the filing of the Form 10-K, the Company's ability to regain compliance with the Nasdaq requirements for continued listing and related matters. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," or similar expressions that involve known and unknown risks and uncertainties. Any forward-looking statements contained herein are based on current expectations, but are subject to risks and uncertainties that could cause actual results to differ materially from those indicated, including, but not limited to, risks and uncertainties relating to the failure of the Company to file the Form 10-K on its expected timeline and other risk factors discussed from time to time in the Company's filings with the SEC. These and other factors are identified and described in more detail in the Company's filings with the SEC, including, without limitation, the Company's most recent Form 10-K and Form 10-Q. The Company expressly disclaims any intent or obligation to update these forward-looking statements other than as required by law.


Contacts:

Ideanomics, Inc.

Tony Sklar, SVP of Investor Relations

1441 Broadway, Suite 5116, New York, NY 10018

ir@ideanomics.com 


FAQ

Why did Ideanomics receive a notice from Nasdaq?

Ideanomics received a notice from Nasdaq due to its failure to file Form 10-Q for the period ending March 31, 2024, leading to non-compliance with listing rules.

What is the impact of Ideanomics failing to file Form 10-Q?

Failing to file Form 10-Q has resulted in a non-compliance notice from Nasdaq, which threatens Ideanomics' continued listing on the exchange.

What steps is Ideanomics taking to address the Nasdaq notice?

Ideanomics is working diligently to regain compliance with Nasdaq listing rules and has committed to providing updates as more information becomes available.

What is the significance of the Form 10-Q for Ideanomics?

The Form 10-Q is important for Ideanomics as it ensures compliance with Nasdaq listing rules. Failure to file it can result in a non-compliance notice and risk of delisting.

When did Ideanomics announce the receipt of the Nasdaq notice?

Ideanomics announced the receipt of the Nasdaq notice on May 24, 2024.

Ideanomics, Inc.

NASDAQ:IDEX

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About IDEX

ideanomics, inc. focuses on monetizing the adoption of commercial electric vehicles, associated energy consumption, and developing financial services and fintech products. its mobile energy global division provides financial services and incentives for commercial fleet operators, including group purchasing discounts and battery buy-back programs. this division also offers solutions for the procurement, financing, charging, and energy management needs for fleet operators of commercial electric vehicles. the company's ideanomics capital division provides financial services solutions. this division is involved in the areas of capital markets, such as financial products advisory and creation, with specific focus on the application of blockchain and artificial intelligence in financial technology. this division also operates ekar, an exchange traded fund that tracks the innovation labs next generation vehicles index, which comprises of global stocks that have exposure to the theme of electr