SAN DIEGO, CA – Hempacco Co., Inc., an organization specialised within the manufacturing of cigarettes, obtained a discover from the Nasdaq Inventory Market LLC on September 4, 2024, indicating the corporate’s securities would now not be listed on the alternate.
The choice comes after Hempacco failed to fulfill Nasdaq’s necessities for holding an annual shareholders’ assembly and submitting periodic monetary studies, as stipulated in Nasdaq Itemizing Guidelines 5620(a) and 5250(c)(1).
The corporate, which is integrated in Nevada and has its principal government places of work in San Diego, California, now has the chance to enchantment Nasdaq’s choice. Hempacco intends to request a overview by the Nasdaq Itemizing and Listening to Overview Council and has scheduled an annual assembly of shareholders in an effort to deal with the compliance points.
Moreover, the corporate is engaged on submitting the overdue periodic studies. Regardless of these efforts, Hempacco has acknowledged that there is no such thing as a assure that they’ll meet the 15-day deadline to request the overview or that the overview will lead to a reversal of the delisting choice.
Following the discover, Hempacco’s frequent inventory, traded underneath the image HPCO, started buying and selling on the Knowledgeable Market of the OTC Hyperlink different buying and selling system operated by OTC Markets Group Inc. as of September 6, 2024.
If the corporate’s enchantment to Nasdaq is unsuccessful, or in the event that they select to not enchantment, Hempacco plans to use for its frequent inventory to be quoted on the OTCQB Enterprise Market. Nevertheless, there is no such thing as a certainty that the inventory will likely be accepted for citation or will proceed to be quoted on this market.
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