Quantum Corporation announced that in accordance with Nasdaq Listing Rules, the Company has submitted its plan to regain compliance on January 16, 2024. If the plan is accepted by the Nasdaq Stock Market LLC, the company expects to be granted an extension of up to 180 calendar days from the original due date of the quarterly report on Form 10-Q for the period ended September 30, 2023, or until May 7, 2024, to regain compliance. On November 13, 2023, Quantum filed a Form 12b-25 stating that it was unable to complete its preparation and review of the second fiscal quarter 10-Q within the prescribed time period due to a re-evaluation of the company’s application of standalone selling price under Accounting Standards Codification Topic 606.
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