Alpine 4 Holdings (ALPP) Announces Receipt of Nasdaq Notice of Additional Staff Determination

Rhea-AI Summary

Alpine 4 Holdings (Nasdaq:ALPP) announced on November 22, 2022, it received a staff determination notice from Nasdaq for non-compliance with Listing Rule 5250(c)(1) due to the failure to file its Form 10-Q for the quarter ending September 30, 2022. The company has 60 days to submit a plan to regain compliance, which includes filing the overdue Quarterly Report. Alpine 4 aims to provide Nasdaq with necessary information and anticipate the completion of required filings.

Positive

• The company has 60 days to submit a compliance plan to regain Nasdaq listing compliance.
• Alpine 4 intends to file the overdue Form 10-Q as soon as possible.

Negative

• Non-compliance with Nasdaq Listing Rule 5250(c)(1) raises risks of potential delisting.
• Uncertainty regarding the timing and completion of the Form 10-Q could delay compliance.

PHOENIX, AZ / ACCESSWIRE / November 25, 2022 / Alpine 4 Holdings, Inc. (Nasdaq:ALPP), a leading operator and owner of small market businesses announced that on November 22, 2022, it received an additional staff determination notice (the "November Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") advising that Nasdaq had not received Alpine 4's Form 10-Q for the quarterly period ended September 30, 2022 (the "Quarterly Report"), and that as such, Alpine 4 was not in compliance with Nasdaq Listing Rule 5250(c)(1) (the " Listing Rule").

Alpine 4 has 60 calendar days from November 21, 2022, to submit to Nasdaq a plan outlining Alpine 4's anticipated steps to regain compliance with the Listing Rule. Alpine 4 plans to submit the plan explaining the strategy to make the required SEC filings, and to regain compliance with the Listing Rule.

Alpine 4 plans to file the Quarterly Report as soon as possible and will provide such information to Nasdaq as part of the proposed plan.

Forward-Looking Statements:

This press release contains forward-looking statements that involve risks and uncertainties. For example, forward-looking statements include statements regarding the timing of the filing of the Form 10-Q, the submission of a plan to regain compliance with the Listing Rule and Nasdaq's potential acceptance of such a plan. Actual results could differ materially from the results projected in or implied by the forward-looking statements made in this report. Factors that might cause these differences include, but are not limited to: the possibility of unanticipated delays that will prevent the filing of the Form 10-Q within the allotted 60-day period, the risk that the work necessary to complete the Form 10-Q is greater than anticipated or may involve the resolution of additional issues identified during the review process, the potential inability to file a plan to regain compliance in a timely manner, the risk of potential additional violations of Listing Rule 5250(c)(1), the risk that the Company may not respond adequately to further inquiries from Nasdaq, and the risk that Nasdaq will not accept any plan to regain compliance and will delist the Company's Class A common stock. Other risk factors that may impact these forward-looking statements are discussed in more detail in the Company's Quarterly Report on Form 10-Q filed with the SEC on August 12, 2022. Copies are available through the Company's Investor Relations department and website, alpine4.com. The Company expressly disclaims any obligation or intention to update these forward-looking statements to reflect new information and developments.

Contact:
Investor Relations
investorrelations@alpine4.com
www.alpine4.com

SOURCE: Alpine 4 Holdings, Inc.

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https://www.accesswire.com/728517/Alpine-4-Holdings-ALPP-Announces-Receipt-of-Nasdaq-Notice-of-Additional-Staff-Determination

FAQ

What did Alpine 4 Holdings announce on November 22, 2022?

Alpine 4 announced it received a Nasdaq notice for non-compliance due to not filing its Form 10-Q for the quarter ended September 30, 2022.

What is the deadline for Alpine 4 to submit a compliance plan to Nasdaq?

Alpine 4 has 60 calendar days from November 21, 2022, to submit its compliance plan.

What could happen if Alpine 4 does not regain compliance with Nasdaq?

Failure to regain compliance may result in the delisting of Alpine 4's Class A common stock from Nasdaq.

What steps is Alpine 4 planning to take regarding the Form 10-Q filing?

Alpine 4 plans to file the overdue Form 10-Q as soon as possible and submit this information as part of its compliance plan.