OneMedNet receives Nasdaq notice of non-compliance

As a result of BF Borgers’ dismissal and the time necessary for its new independent accounting firm to review its financial statements, the Company has not yet filed its Quarterly Report on Form 10-Q for the first quarter ended March 31, 2024. On June 20, 2024, the Company received a notice from the Listing Qualifications Department of Nasdaq indicating that, due to the Company’s failure to timely file its Form 10-Q with the SEC, the Company is not in compliance with Nasdaq’s continued listing requirements under Nasdaq Listing Rule 5250(c)(1), which requires the timely filing of all required periodic reports with the SEC. The Notice states that the Company has 60 days, or until August 19, 2024, to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rules. If Nasdaq accepts the Company’s plan, then Nasdaq may grant the Company an exception of up to 180 calendar days from the filing’s due date, or until December 11, 2024, to regain compliance. The Company continues to work diligently with its new auditor, WithumSmith+Brown, to complete and file the Form 10-Q as soon as practicable. Neither the Notice nor the Company’s non-compliance with the Listing Rule has an immediate effect on the listing or trading of the Company’s securities on Nasdaq, which will continue to trade on The Nasdaq Capital Market under the symbol “ONMD.” This announcement is made in compliance with the Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a notification of deficiency.