BIMI International Medical receives Nasdaq notification of non-compliance

BIMI International Medical announced that on November 21, 2023, the Company received a notification letter from The Nasdaq Stock Market LLC stating that, because the Company has not yet filed its Quarterly Report on Form 10-Q for the period ended September 30, 2023, the Company is no longer in compliance with Nasdaq Listing Rule 5250(c)(1). Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission. The Nasdaq letter has no immediate effect on the listing of the Company’s shares. The Nasdaq letter also stated that previously Nasdaq had granted the Company an exception until December 8, 2023, to file its delinquent Form 10-Q for the period ended June 30, 2023. As a result, any additional Nasdaq exception to allow the Company to regain compliance with all delinquent filings, will be limited to a maximum of 180 calendar days from the due date of the Initial Delinquent Filing, or February 20, 2024. As a result of this additional delinquency, the Company must submit an update to its original plan to regain compliance with respect to the filing requirement. The update should be as definitive as possible, including plans to file the Form 10-Q for the period ended September 30, 2023, and indicate the progress the Company has made towards implementing the plan submitted in connection with the Initial Delinquent Filing.