Platinum Analytics Cayman Limited (Nasdaq: PLTS) reported that on July 7, 2026 it received a Nasdaq Staff Delisting Determination from the Listing Qualifications Department, seeking to delist its securities under Nasdaq Listing Rule IM-5101-4.
The company plans to appeal by requesting an oral hearing before the Nasdaq Hearings Panel under Rule 5815 and will submit a detailed written submission outlining its legal arguments. The current trading halt under Rule 4120(a)(5) will continue during any automatic or Panel-granted stay. Platinum Analytics will ask the Panel to find it compliant with all applicable listing standards but cautions there is no assurance the Panel will agree.
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Positive
Company intends to appeal Nasdaq delisting via oral hearing request
Potential automatic 15-day stay on suspension if hearing is timely requested
Company will submit a detailed written submission including all legal arguments to the Panel
Negative
Nasdaq issued a Staff Delisting Determination for PLTS securities under Rule IM-5101-4
PLTS securities are subject to a trading halt under Rule 4120(a)(5) during any stay
Outcome of the appeal is uncertain; no assurance of continued Nasdaq listing
Market Context
Nasdaq’s Staff Delisting Determination and the planned appeal place listing status at the center of ...
Analysis
Nasdaq’s Staff Delisting Determination and the planned appeal place listing status at the center of PLTS’s story, against a backdrop of halted trading, prior SEC suspension, a $2,022,575 annual net loss, and highly concentrated customers that add fundamental risk.
Key Figures
Hearing stay period:15 daysAnnual revenue:$1,675,239Net loss:$2,022,575+5 more
8 metrics
Hearing stay period15 daysAutomatic stay of suspension per Nasdaq Listing Rule 5815(a)(1)(B)
Annual revenue$1,675,239Year ended September 30, 2025 (Form 20‑F)
Net loss$2,022,575Year ended September 30, 2025 (Form 20‑F)
Accumulated deficit$10,764,802As of September 30, 2025 (Form 20‑F)
Operating cash outflow$5,518,850Year ended September 30, 2025 (Form 20‑F)
Increase in prepayments$3,678,951Driver of operating cash outflow in 2025 (Form 20‑F)
Customer revenue concentration97.0%Two clients’ share of 2025 revenue (Form 20‑F)
Accounts receivable concentration91.8%One customer’s share of accounts receivable (Form 20‑F)
Key Terms
staff delisting determination, nasdaq hearings panel, trading halt, form 20‑f, +1 more
5 terms
staff delisting determinationregulatory
"received a Staff Delisting Determination (the “Staff Determination”) from the Listing Qualifications"
A staff delisting determination is a formal finding by exchange or regulatory staff that a listed security no longer meets the rules required to stay listed, similar to an official notice that a rental property no longer qualifies for occupancy. It matters to investors because it often precedes removal from the exchange, which can sharply reduce a stock’s visibility, trading liquidity and value, and may trigger urgent choices like selling, appealing the decision or seeking alternative markets.
nasdaq hearings panelregulatory
"request for oral hearing before the Nasdaq Hearings Panel (the “Panel”) pursuant to Nasdaq Listing Rule 5815"
A Nasdaq hearings panel is a group of experts that reviews cases when a company's stock listing is at risk of being removed from the exchange. They evaluate whether the company has met certain standards and determine if it can keep trading on Nasdaq. This process matters to investors because it can affect a company's ability to raise money and maintain credibility in the market.
trading haltregulatory
"The current trading halt under Rule 4120(a)(5) with regards to the Company’s securities will remain in place"
A trading halt is a temporary pause on buying and selling a particular stock imposed by an exchange or regulator, like pressing the pause button on a game so everyone can catch up. It is used to give the market time to absorb important new information or to prevent chaotic price swings, and matters to investors because it freezes the ability to trade, delays price discovery, and can change risk and strategy until normal trading resumes.
"files its annual Form 20‑F, outlining a niche FX trading software and ECN business"
A Form 20-F is the annual disclosure document that foreign companies must file with the U.S. securities regulator when they have securities traded in U.S. markets; it contains audited financial statements, explanations of business operations, governance, risks and accounting methods. Investors use it like a company’s detailed report card or dossier to compare performance, spot red flags and judge transparency and regulatory compliance before buying or holding a stock.
sec trading suspensionregulatory
"significant risks from an SEC trading suspension and ongoing Nasdaq inquiry that have halted trading"
A SEC trading suspension is a temporary pause on buying and selling a company's securities imposed by the U.S. Securities and Exchange Commission. The suspension is used when regulators need time to investigate missing or misleading information, suspected fraud, or other concerns that would make markets unfair or unsafe; like a referee hitting a pause button to sort out a dispute. For investors it stops normal trading, freezes price discovery and access to liquidity until the regulator lifts the suspension.
SINGAPORE, July 10, 2026 (GLOBE NEWSWIRE) -- Platinum Analytics Cayman Limited (the “Company” or “PLTS”), a software developer specializing in the provision of FX trading software development solutions, data analytics solutions and technology development solutions to financial institutions with a strategic focus on serving Asia and other emergent markets, today announced that on July 7, 2026, the Company received a Staff Delisting Determination (the “Staff Determination”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”), notifying the Company that Nasdaq has determined to delist the Company’s securities pursuant to its discretionary authority contained in Nasdaq Listing Rule IM-5101-4.
The Company intends to appeal the Staff Determination by filing a request for oral hearing before the Nasdaq Hearings Panel (the “Panel”) pursuant to Nasdaq Listing Rule 5815.Per Rule 5815(a)(1)(B), a request for a hearing regarding a delinquent filing will only stay the suspension of the Company’s securities for a period of 15 days from the deadline to request a hearing unless the Company specifically requests, and the Hearings Panel grants, a further stay.The current trading halt under Rule 4120(a)(5) with regards to the Company’s securities will remain in place during any automatic stay or further stay granted by the Panel.
Per Listing Rule 5815(a)(5), the Company will submit to the Hearings Panel a written submission stating with specificity the grounds on which the Company is seeking review of the Staff Determination notification in accordance with Listing Rule 5815(a) (1) (“Written Submission”), and the Company will include in the Written Submission all legal arguments on which it intends to rely. The Company will request that the Panel find the Company in compliance with all applicable listing standards, pursuant to Rule 5815(c)(1)(E). There can be no assurance, however, that the Panel will find the Company in compliance with all applicable listing standards.
About Platinum Analytics Cayman Limited
Established in 2017 in Singapore, Platinum Analytics Cayman Limited, through its wholly-owned Singapore subsidiary, Platinum Analytics Singapore Pte. Ltd., develops FX trading software, data analytics, and technology solutions for financial institutions, focusing on Asia and other emergent markets. Supported by the Monetary Authority of Singapore (MAS), it addresses rapid growth in currency trade volumes, complex cross-border transactions, and emerging market volatility.
The Company operates the Platinum ECN spot FX trading platform for institutional and enterprise clients. Its products – Platinum AI, Platinum ECN, and Platinum Smart Trade – deliver scalable, flexible, AI-driven, low-latency trading and analytics. For more information, please visit: www.platinumanalytics.net.
Forward-Looking Statement
This press release contains forward-looking statements that involve risks and uncertainties. The risks and uncertainties involved include the Company’s ability to regain compliance with Nasdaq’s rules for continued listing, market conditions, and other risks detailed from time to time in the Company’s periodic reports and other filings with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance on forward-looking statements, which are based on the Company’s current expectations and assumptions and speak only as of the date of this press release. The Company does not intend to revise or update any forward-looking statement in this press release as a result of new information, future events or otherwise, except as required by law.
For more information, please contact: International Elite Capital Annabelle Zhang Email: management@iecapitalusa.com 646-866-7928
FAQ
What did Platinum Analytics (PLTS) announce about its Nasdaq listing on July 10, 2026?
Platinum Analytics announced it received a Nasdaq Staff Delisting Determination on July 7, 2026. According to the company, Nasdaq intends to delist PLTS securities under Listing Rule IM-5101-4, and the company plans to appeal through a hearing request.
Why is Nasdaq seeking to delist Platinum Analytics (PLTS) shares?
Nasdaq is seeking to delist Platinum Analytics securities under its discretionary authority in Listing Rule IM-5101-4. According to the company, the Staff Delisting Determination was issued by Nasdaq’s Listing Qualifications Department, although specific reasons beyond the cited rule are not detailed in this announcement.
How will Platinum Analytics (PLTS) respond to the Nasdaq delisting notice?
Platinum Analytics intends to appeal by requesting an oral hearing before the Nasdaq Hearings Panel. According to the company, it will file a written submission specifying its grounds for review and all legal arguments, and will ask the Panel to deem it compliant with listing standards.
What happens to PLTS trading during the Nasdaq delisting and appeal process?
PLTS securities remain under a current trading halt imposed under Nasdaq Rule 4120(a)(5). According to the company, this halt will continue during any automatic 15-day stay or further stay that might be granted by the Nasdaq Hearings Panel following a hearing request.
Does requesting a hearing automatically prevent the delisting of PLTS shares?
Requesting a hearing can temporarily stay suspension for 15 days from the hearing request deadline. According to the company, any further stay must be specifically requested and granted by the Panel, and there is no assurance the Panel will ultimately uphold PLTS’s listing.
What will Platinum Analytics include in its appeal to the Nasdaq Hearings Panel?
Platinum Analytics will submit a written statement detailing the specific grounds for review and all legal arguments. According to the company, it will request that the Panel find it in compliance with all applicable Nasdaq listing standards under Rule 5815(c)(1)(E).
