Wrap Technologies Receives Nasdaq Notification of Non-Compliance With Listing Rule 5250(c)(1)
Wrap Technologies Receives Nasdaq Notification of Non-Compliance With Listing Rule 5250(c)(1)
MIAMI, April 19, 2024 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (Nasdaq: WRAP) ("Wrap" or the "Company"), the makers of BolaWrap and the innovative public safety solutions platform powered by artificial intelligence ("AI"), virtual reality and data, today reports that it has received a letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it is not in compliance with the requirements of Nasdaq Listing Rule 5250(c)(1) as a result of not having timely filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the "Form 10-K"), with the Securities and Exchange Commission ("SEC").
迈阿密，2024年4月19日（环球新闻专线）——BolaWrap和由人工智能（“AI”）、虚拟现实和数据提供支持的创新公共安全解决方案平台的制造商Wrap Technologies, Inc.（纳斯达克股票代码：WRAP）（“Wrap” 或 “公司”）今天报告说，它已收到纳斯达克股票市场有限责任公司（“纳斯达克”）上市资格部门的来信，通知该公司不是符合《纳斯达克上市规则》第 5250 (c) (1) 条的要求，因为没有及时提交其 10-K 表格的年度报告美国证券交易委员会（“SEC”）截至2023年12月31日的财政年度（“10-K表格”）。
This notification has no immediate effect on the listing of the Company's common stock on the Nasdaq. However, if the Company fails to timely regain compliance with this Nasdaq Listing Rule, the Company's common stock will be subject to delisting from Nasdaq.
该通知对公司普通股在纳斯达克的上市没有立即影响。但是，如果公司未能及时恢复对本《纳斯达克上市规则》的遵守，则该公司的普通股将被从纳斯达克退市。
Under the Nasdaq rules, the Company has 60 calendar days to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rule. If Nasdaq accepts the Company's plan, then Nasdaq may grant the Company until October 14, 2024 to regain compliance. If Nasdaq does not accept the Company's plan, then the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel.
根据纳斯达克规则，公司有60个日历日的时间向纳斯达克提交恢复遵守纳斯达克上市规则的计划。如果纳斯达克接受该公司的计划，那么纳斯达克可能会批准该公司在2024年10月14日之前恢复合规。如果纳斯达克不接受公司的计划，那么公司将有机会向纳斯达克听证小组对该决定提出上诉。