WESTLAKE VILLAGE, Calif., Oct. 20, 2022 (GLOBE NEWSWIRE) — SRAX, Inc. (NASDAQ: SRAX), a monetary expertise firm that unlocks knowledge and insights for publicly traded firms, at the moment introduced that on October 14, 2022, the Company acquired discover from the Nasdaq Listing Qualifications Staff (the “Staff”) indicating that the Staff had decided to delist the Company’s securities from Nasdaq except the Company well timed requests a listening to earlier than the Nasdaq Hearings Panel (the “Panel”). The Staff’s dedication was primarily based upon the Company’s non-compliance with the submitting requirement set forth in Nasdaq Listing Rule 5250(c)(1). On October 12, 2022, the Company filed its Annual Report on Form 10-Ok for the fiscal yr ended December 31, 2021 with the Securities and Exchange Commission (the “SEC”); nevertheless, the Company has not but filed the Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022 and June 30, 2022 with the SEC.
The Company plans to well timed request a listening to earlier than the Panel and, in accordance with Nasdaq Listing Rule 5815(a)(1)(B), a keep of any additional suspension or delisting motion by Nasdaq no less than pending the issuance of a choice and the expiration of any extension that could be granted by the Panel following the listening to.
At the listening to, the Company will current its plan to proof compliance with the Filing Requirement and request an extension of time to take action. The Company is diligently working to file all vital periodic studies with the SEC as quickly as practicable; nevertheless, there could be no assurance that the Panel will decide to proceed the Company’s itemizing on Nasdaq or that the Company will be capable to well timed fulfill the phrases of any extension that could be granted by the Panel consequently of the listening to.
About SRAX
SRAX (NASDAQ: SRAX) is a monetary expertise firm that unlocks knowledge and insights for publicly traded firms. Through its premier investor intelligence and communications platform, Sequire, firms can observe their traders’ behaviors and developments and use these insights to interact present and potential traders throughout advertising channels. For extra info on SRAX, go to srax.com and mysequire.com.
Cautionary Statement Regarding Forward-Looking Information:
This information launch accommodates “forward-looking statements” made pursuant to the “protected harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to future, not past, events and may often be identified by words such as “count on,” “anticipate,” “intend,” “plan,” “imagine,” “search” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Specific risks and uncertainties that could cause our actual results to differ materially from those expressed in our forward-looking statements include risks inherent in our business, and our need for future capital. Actual results may differ materially from the results anticipated in these forward-looking statements. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed from time to time in SRAX’s periodic reports filed with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2021, its Quarterly Reports on Form 10-Q as well as and in other reports filed with the SEC. We do not assume any obligation to update any forward-looking statements.
