Summary by Moomoo AI
On August 29, 2024, HUB Cyber Security Ltd., a developer of cybersecurity solutions, announced that it had received a notification from Nasdaq regarding non-compliance with the Total Assets and Total Revenue Requirement for continued listing on The Nasdaq Global Market. The company's total assets and total revenue for the most recently completed fiscal year and two of the last three fiscal years were each below the minimum $50 million threshold. Despite the notice, HUB Cyber Security's shares will continue to trade on Nasdaq under the symbol 'HUBC.' The company has until October 7, 2024, to submit a Compliance Plan to Nasdaq to regain compliance, with the possibility of an extension until February 19, 2025. If the plan is not accepted, the company's shares may face delisting, although HUB Cyber Security can request a hearing before the Nasdaq Hearings Panel. The company is exploring options to meet Nasdaq's listing standards. HUB Cyber Security was founded in 2017 by veterans of the Israeli Defense Forces and operates in over 30 countries, offering cybersecurity solutions and services.
