TUCSON,
Ariz., April 21, 2023 /PRNewswire/
-- COMSovereign Holding Corp. (NASDAQ: COMS and COMSP)
("COMSovereign" or the "Company"), a U.S.-based developer of 4G LTE
Advanced and 5G communication systems today announced that it
has received a letter from the Listing Qualifications Department of
the Nasdaq Stock Market ("Nasdaq") stating that the Company is not
in compliance with Nasdaq Listing Rule 5250(c)(1) (the "Rule")
because the Company failed to timely file its Annual Report on Form
10-K for the year ended December 31, 2022 (the "Form 10-K") with
the Securities and Exchange Commission (the "SEC").
As previously disclosed in the Form 12b-25 filed on March 31, 2023 by the Company with the SEC, the
Company was unable to file the Form 10-K by the required due date
of March 31, 2023 due to delays in
obtaining appraisals of intangibles and impairments of
goodwill.
Under Nasdaq rules the Company now has 60 calendar days to
submit a plan to regain compliance. If Nasdaq accepts the Company's
plan, it may grant an exception of up to 180 calendar days from the
Filing's due date, or until October 16,
2023, for it to regain compliance.
For more information about COMSovereign, please visit
www.COMSovereign.com and connect with us on Facebook and
Twitter.
About COMSovereign Holding Corp.
COMSovereign
Holding Corp. (Nasdaq: COMS) has assembled a portfolio of
communications technology companies that enhance connectivity
across the entire data transmission spectrum. Through strategic
acquisitions and organic research and development efforts,
COMSovereign has become a U.S.-based communications provider able
to provide 4G LTE Advanced and 5G telecom solutions to network
operators and enterprises. For more information about COMSovereign,
please visit www.COMSovereign.com.
Forward-Looking Statements
Certain statements in
this press release that are not historical facts are
forward-looking statements that reflect management's current
expectations, assumptions, and estimates of future performance and
economic conditions, and involve risks and uncertainties that could
cause actual results to differ materially from those anticipated by
the statements made herein. Forward-looking statements are
generally identifiable by the use of forward-looking terminology
such as "believe," "expects," "may," "looks to," "will," "should,"
"plan," "intend," "on condition," "target," "see," "potential,"
"estimates," "preliminary," or "anticipates" or the negative
thereof or comparable terminology, or by discussion of strategy or
goals or other future events, circumstances, or effects. Further
information relating to factors that may impact the Company's
results and forward-looking statements are disclosed in the
Company's filings with the SEC. The forward-looking statements
contained in this press release are made as of the date of this
press release, and the Company disclaims any intention or
obligation, other than imposed by law, to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
Contacts:
Steve Gersten, Director of
Investor Relations
COMSovereign Holding Corp.
813-334-9745
investors@comsovereign.com
Media Relations for COMSovereign Holding Corp.:
Michael Glickman
MWGCO, Inc.
917-397-2272
mike@mwgco.net
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SOURCE COMSovereign Holding Corp.