Adamas One Corp. (Nasdaq: JEWL), a lab-grown diamond company, received a Nasdaq notification of non-compliance with Listing Rule 5250(c)(1) on August 21, 2024. This is due to the company's failure to file its Q2 2024 10-Q report. The notification serves as an additional basis for potential delisting from Nasdaq. Previously, on June 07, 2024, Adamas received a decision letter from the Nasdaq Hearings Panel granting continued listing subject to two conditions: curing filing delinquencies by July 29, 2024, and demonstrating a closing bid price of $1 or more for 10 consecutive trading sessions by August 30, 2024. The company plans to present a compliance plan to Nasdaq but cannot guarantee it will regain compliance or maintain its Nasdaq listing.
Adamas One Corp. (Nasdaq: JEWL) has received a notification from Nasdaq regarding non-compliance with listing rules. The issues arise from the company's failure to meet the Minimum Bid Price Rule, Fees Rule, and Filings Rule, specifically for not filing its Quarterly Report for Q1 2024. A hearing is scheduled for May 30, 2024, where Adamas One will present a plan to regain compliance. There is no guarantee that Nasdaq will approve the plan or that Adamas One will meet the necessary requirements to avoid delisting.
Adamas One Corp. (Nasdaq: JEWL) faces non-compliance issues with Nasdaq listing rules, including failure to pay annual listing fee and late filing of required reports. The company has a hearing scheduled to address these issues and present a plan for compliance. Non-compliance could lead to delisting of securities, with uncertainty regarding the outcome.
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