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$PMGC Holdings (ELAB.US)$ DELISTING ON MONDAY? Elevai Labs I...
DELISTING ON MONDAY?
Elevai Labs Inc. (NASDAQ:ELAB), a pharmaceutical company, is grappling with compliance challenges that could lead to the delisting of its common stock from The Nasdaq Capital Market. On Monday, the company received a deficiency notice from Nasdaq due to its failure to meet the minimum bid price and stockholders’ equity requirements for continued listing.
The Nasdaq Listing Rule 5550(a)(2), known as the Bid Price Rule, mandates that the company's common stock maintain a minimum closing bid price of $1.00 per share. Elevai Labs has been unable to meet this standard since March 6, 2024, and despite a 180-day grace period that ended on September 3, 2024, the company has not regained compliance. The firm's inability to request an extension, partly because of insufficient stockholders’ equity, has exacerbated the situation.
The Nasdaq Listing Rule 5550(a)(2), known as the Bid Price Rule, mandates that the company's common stock maintain a minimum closing bid price of $1.00 per share. Elevai Labs has been unable to meet this standard since March 6, 2024, and despite a 180-day grace period that ended on September 3, 2024, the company has not regained compliance. The firm's inability to request an extension, partly because of insufficient stockholders’ equity, has exacerbated the situation.
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Zak Cruz : I own the stock and haven’t heard anything about delisting, I do know they have permission to do a reverse split, but no official date yet. There could be a big pop in the near future but just watch out for that RS announcement it could drop the stock
102154453 : Hi. We all know that it will be delisted sooner or later unless it can do a reverse stock split. But there is no mention anywhere that it’s going to be Monday. It could be Tuesday or Wednesday so how do you know it’s definitely Monday? Unless you have evidence to back it up, it seems to be just plucked out of thin air and false information.