Blue Star Foods Moves its Listing to OTC Markets under its current symbol BSFC
Blue Star Foods Corp. (NASDAQ: BSFC) announced its delisting from Nasdaq due to violation of the Minimum Bid Price Requirement. The company will begin trading on OTC Markets on Friday, December 20, 2024. The company opted not to appeal the delisting decision, citing potential benefits including lower public company costs and elimination of immediate reverse split requirements. CEO John Keeler emphasized that the delisting does not reflect operational performance, stating the company has returned to revenue growth with a strong cash position. Blue Star plans to apply for listing on the OTCQB as soon as practicable.
Blue Star Foods Corp. (NASDAQ: BSFC) ha annunciato la sua esclusione dal Nasdaq a causa della violazione del requisito di prezzo minimo per le offerte. L'azienda inizierà a essere scambiata su OTC Markets venerdì 20 dicembre 2024. La società ha scelto di non fare ricorso contro la decisione di esclusione, citando potenziali vantaggi come la riduzione dei costi per le aziende pubbliche e l'eliminazione dei requisiti immediati di frazionamento inverso. Il CEO John Keeler ha sottolineato che l'esclusione non riflette le performance operative, affermando che la società è tornata a crescere in termini di ricavi con una solida posizione di liquidità. Blue Star prevede di fare richiesta per essere quotata su OTCQB appena possibile.
Blue Star Foods Corp. (NASDAQ: BSFC) anunció su exclusión del Nasdaq debido a la violación del requisito de precio mínimo por oferta. La empresa comenzará a cotizar en OTC Markets el viernes 20 de diciembre de 2024. La compañía optó por no apelar la decisión de exclusión, citando beneficios potenciales que incluyen menores costos de empresa pública y la eliminación de los requisitos inmediatos de división inversa. El CEO John Keeler enfatizó que la exclusión no refleja el rendimiento operativo, afirmando que la empresa ha regresado al crecimiento de ingresos con una sólida posición de efectivo. Blue Star planea solicitar una lista en el OTCQB tan pronto como sea posible.
블루 스타 푸드 주식회사 (NASDAQ: BSFC)는 최소 입찰 가격 요건 위반으로 인해 나스닥에서 상장 폐지된다고 발표했습니다. 이 회사는 2024년 12월 20일 금요일에 OTC 마켓에서 거래를 시작할 것입니다. 회사는 상장 폐지 결정에 항소하지 않기로 결정했으며, 이는 공기업 비용 절감 및 즉각적인 역 분할 요구 사항의 제거와 같은 잠재적 이점을 포함한다고 밝혔습니다. CEO 존 켈러는 상장 폐지가 운영 성과를 반영하지 않으며, 회사가 강력한 현금 위치로 수익 성장으로 돌아왔다는 점을 강조했습니다. 블루 스타는 가능한 한 빨리 OTCQB에 상장 신청을 할 계획입니다.
Blue Star Foods Corp. (NASDAQ: BSFC) a annoncé son désenregistrement de Nasdaq en raison de la violation de l'exigence de prix minimum d'offre. L'entreprise commencera à être négociée sur OTC Markets le vendredi 20 décembre 2024. La société a choisi de ne pas faire appel de la décision de désenregistrement, invoquant des avantages potentiels tels que des coûts réduits pour les entreprises cotées en bourse et l'élimination des exigences immédiates de fractionnement inverse. Le PDG John Keeler a souligné que le désenregistrement ne reflète pas la performance opérationnelle, affirmant que l'entreprise est revenue à la croissance des revenus avec une solide position de liquidités. Blue Star prévoit de demander à être cotée sur le OTCQB dès que possible.
Blue Star Foods Corp. (NASDAQ: BSFC) hat seine Delisting vom Nasdaq aufgrund eines Verstoßes gegen die Mindestgebotsanforderung angekündigt. Das Unternehmen wird am Freitag, dem 20. Dezember 2024, auf OTC Markets gehandelt werden. Die Gesellschaft hat sich entschieden, gegen die Delisting-Entscheidung nicht Berufung einzulegen und verweist auf potenzielle Vorteile wie niedrigere Kosten für öffentlich gehandelte Unternehmen und die Abschaffung sofortiger Anforderungen an eine Umkehr-Aktiensplit. CEO John Keeler betonte, dass das Delisting keine Rückschlüsse auf die operative Leistung zulässt, und erklärte, dass das Unternehmen mit einer starken Liquiditätslage in das Umsatzwachstum zurückgekehrt sei. Blue Star plant, so schnell wie möglich einen Antrag auf Listung im OTCQB zu stellen.
- Company reports return to revenue growth
- Strong cash position reported
- Expected reduction in public company costs through OTC listing
- No immediate need for reverse stock split
- Delisting from Nasdaq due to minimum bid price requirement violation
- Downgrade to less prestigious OTC Markets trading venue
Insights
Will Commence Trading on OTC Markets on Friday, December 20
Miami, FL, Dec. 19, 2024 (GLOBE NEWSWIRE) -- Blue Star Foods Corp., (“Blue Star,” the “Company,” “we,” “our” or “us”) (NASDAQ: BSFC), an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS), today announced that it received formal notice from The Nasdaq Stock Market LLC that its securities will be delisted from Nasdaq. The Company has decided not to appeal its delisting determination, which was based on the Company’s violation of Listing Rule 5550(a)(2), the “Minimum Bid Price Requirement” and will begin trading on OTC Markets on Friday, December 20.
John Keeler, Chairman and CEO of Blue Star Foods, commented, “this by no means has any reflection on our operations, nothing has changed and we have returned to revenue growth and our current cash position is in a very good place.”
Keeler, continued, “in deciding to not appeal the Nasdaq delisting notice, we realized some positives by listing in OTC Markets:
- Lowers our public company costs
- No immediate plans for reverse split as no longer needed to comply with Nasdaq listing standards
- We intend to apply to list our securities on the OTCQB as soon as practicable.
About Blue Star Foods Corp. (NASDAQ: BSFC)
Blue Star Foods Corp. an integrated Environmental, Social, and Governance (ESG) sustainable seafood company with a focus on Recirculatory Aquaculture Systems (RAS) that processes, packages and sells high-value seafood products. The Company believes it utilizes best-in-class technology, in both resource sustainability management and traceability, and ecological packaging. The Company also owns and operates the oldest continuously operating Recirculating Aquaculture System (RAS) full grow-out salmon farm in North America. The company is based in Miami, Florida, and its corporate website is: https://bluestarfoods.com
Forward-Looking Statements:
The foregoing material may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the Company’s product development and business prospects, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available to the Company and its current plans or expectations and are subject to a number of risks and uncertainties that could significantly affect current plans. Risks concerning the Company’s business are described in detail in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, and other periodic and current reports filed with the Securities and Exchange Commission. The Company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Contacts:
investors@bluestarfoods.com
FAQ
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