Adamas One Corp. filed SEC Form 8-K: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
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ITEM 3.01 NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD.
As previously disclosed, on August 21, 2024, Adamas One Corp. (the “Company”) received a letter from the Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) notifying the Company that, per Nasdaq Listing Rule 5250(c)(1) (the “Filings Rule”), the Company was delinquent in filing its Quarterly Report on Form 10-Q for the period ended June 30, 2024, which served as an additional basis for delisting the Company’s securities from Nasdaq (previous delinquency and delisting letters from the Listing Qualifications Department and a decision letter from the Nasdaq Hearings Panel that heard the Company’s appeal on May 30th (the “Panel”) were disclosed in Current Reports on Form 8-K the Company previously filed).
On September 3, 2024, the Company received a letter from the Panel that, due to the Company not curing its previous 10-K and 10-Q filing delinquencies until after the expiration of the August 20th deadline (a deadline extended from July 29th by the Panel at the Company’s request) and, as of September 3rd, the Company not demonstrating compliance with the Filings Rule (with the June 30th 10-Q not having been filed prior to September 3rd), the Panel had determined it would delist the Company’s common stock from Nasdaq. Trading in the common stock was suspended at the open of trading on September 5th. The Company’s common stock is currently quoted on the OTC Pink Limited Information marketplace maintained by OTC Markets Group, Inc. Nasdaq will complete the delisting by filing a Form 25 Notification of Delisting with the Securities and Exchange Commission after applicable appeal periods have lapsed. The Company does not plan to appeal the Panel’s decision.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ADAMAS ONE CORP. | ||
| Dated: September 9, 2024 | By: | /s/ John G. Grdina |
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Name: Title: |
John G. Grdina President and Chief Executive Officer | |