TRxADE Health, Inc. Announces Receipt of Notice from Nasdaq Regarding Late Filing of Quarterly Report on Form 10-Q
May 29 2024 - 3:05PM
TRxADE HEALTH, Inc. (
Nasdaq: MEDS) (the
“Company”), announced that, on May 23, 2024, the Company received a
notice (the “Notice”) from the Nasdaq Listing Qualifications
Department (“Nasdaq”) indicating that because the Company had not
yet filed its Quarterly Report on Form 10-Q for the period ending
March 31, 2024 (the “Form 10-Q”), the Company is not compliant with
the timely filing requirement for continued listing under Nasdaq
Listing Rule 5250(c)(1) (the “Listing Rule”), which requires listed
companies to timely file all required periodic reports with the
Securities and Exchange Commission.
The Notice indicates that the Company must, no
later than July 22, 2024, submit a plan to regain compliance with
respect to the filing requirement. Following receipt of such plan,
Nasdaq may grant an extension of up to 180 calendar days from the
Form 10-Q due date, or until November 18, 2024, for the Company to
regain compliance.
The Notice has no immediate effect on the
listing or trading of the Company’s common stock, although there
can be no assurances that further delays in the filing of the Form
10-Q will not have an impact on the listing or trading of the
Company’s common stock. While the Company can provide no assurances
as to timing, the Company is working diligently and plans to file
the Form 10-Q as soon as practicable to regain compliance with the
Listing Rule.
Forward-Looking Statements
This press release contains certain statements
that may be deemed to be “forward-looking statements” within the
federal securities laws, including the safe harbor provisions under
the Private Securities Litigation Reform Act of 1995. Statements
that are not historical are forward- looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Forward-looking
statements relate to future events or our future performance or
future financial condition. These forward-looking statements are
not historical facts, but rather are based on current expectations,
estimates and projections about our Company, our industry, our
beliefs and our assumptions. Such forward-looking statements
include, but are not limited to, statements regarding our or our
management team’s expectations, hopes, beliefs, intentions or
strategies regarding the future. In addition, any statements that
refer to projections, forecasts or other characterizations of
future events or circumstances, including any underlying
assumptions, are forward-looking statements. In some cases, you can
identify forward-looking statements by the following words:
“anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,”
“intend,” “may,” “ongoing,” “plan,” “potential,” “predict,”
“project,” “should,” or the negative of these terms or other
similar expressions, but the absence of these words does not mean
that a statement is not forward-looking. Forward-looking statements
are subject to a number of risks and uncertainties (some of which
are beyond our control) that may cause actual results or
performance to be materially different from those expressed or
implied by such forward-looking statements. Accordingly, readers
should not place undue reliance on any forward-looking statements.
These risks include risks relating to agreements with third
parties; our ability to raise funding in the future, as needed, and
the terms of such funding, including potential dilution caused
thereby; our ability to continue as a going concern; security
interests under certain of our credit arrangements; our ability to
maintain the listing of our common stock on the Nasdaq Capital
Market; claims relating to alleged violations of intellectual
property rights of others; the outcome of any current legal
proceedings or future legal proceedings that may be instituted
against us; unanticipated difficulties or expenditures relating to
our business plan; and those risks detailed in the Company’s most
recent Annual Report on Form 10-K and subsequent reports filed with
the Securities and Exchange Commission.
Forward-looking statements speak only as of the
date they are made. The Company undertakes no obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise that occur after that
date, except as otherwise provided by law.
Investor Contact:
TRxADE Health, Inc.2420 Brunello TraceLutz, Florida
33558Email: IR@trxade.com
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