Cosmos Health Regains Full Compliance with Nasdaq Listing Requirements

Rhea-AI Summary

Cosmos Health (NASDAQ:COSM) has regained full compliance with Nasdaq listing requirements. The company addressed two key issues:

1. Filing Compliance: Cosmos filed its 2023 Annual Report (Form 10-K) and Q1 2024 financial results (Form 10-Q), resolving concerns raised in Nasdaq's notification letters from April and May 2024.

2. Minimum Bid Price Rule: The company met this requirement earlier in July 2024.

CEO Greg Siokas expressed satisfaction with the company's return to full compliance across all Nasdaq listing requirements. This development marks a positive turn for Cosmos Health, a diversified healthcare group involved in R&D, pharmaceutical and nutraceutical brands, healthcare product distribution, and telehealth services.

Positive

• Regained full compliance with Nasdaq listing requirements
• Successfully filed 2023 Annual Report and Q1 2024 financial results
• Met Nasdaq's Minimum Bid Price Rule in July 2024

Negative

• None.

CHICAGO, IL / ACCESSWIRE / August 23, 2024 / Cosmos Health Inc. ("Cosmos Health" or the "Company'') (NASDAQ:COSM), a diversified, vertically integrated global healthcare group engaged in innovative R&D, owner of proprietary pharmaceutical and nutraceutical brands, manufacturer and distributor of healthcare products, and operator of a telehealth platform, announced today that the Company has regained compliance with Listing Rule 5250(c)(1) (the "Filing Rule"), in connection with the filing of its 2023 Annual Report on Form 10-K (the "Annual Report") and its financial results for the first quarter ended March 31, 2024, on Form 10-Q (the "First Quarter Report").

On April 17 and May 21, 2024, the Company received notification letters (the "Notification Letters") from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq") stating that it no longer met the periodic filing requirement for The Nasdaq Stock Market Filing Rule.

Based on the August 5 and August 19, 2024, filings of the Company's Form 10-K for the year ended December 31, 2023, and Form 10-Q for the period ended March 31, 2024, Nasdaq has determined that the Company complies with the Filing Rule. Accordingly, this matter is now closed.

Greg Siokas, CEO of Cosmos Health, stated: "We are extremely pleased to have regained compliance with Nasdaq, both in terms of filing our Annual Report and First Quarter Report, and meeting Nasdaq's Minimum Bid Price Rule earlier in July. As a result, Cosmos is now fully compliant with all Nasdaq listing requirements."

About Cosmos Health Inc.

Cosmos Health Inc. (Nasdaq:COSM), incorporated in 2009 in Nevada, is a diversified, vertically integrated global healthcare group. The Company owns a portfolio of proprietary pharmaceutical and nutraceutical brands, including Sky Premium Life®, Mediterranation®, bio-bebe® and C-Sept®. Through its subsidiary Cana Laboratories S.A., licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency (EMA), it manufactures pharmaceuticals, food supplements, cosmetics, biocides, and medical devices within the European Union. Cosmos Health also distributes a broad line of pharmaceuticals and parapharmaceuticals, including branded generics and OTC medications, to retail pharmacies and wholesale distributors through its subsidiaries in Greece and the UK. Furthermore, the Company has established R&D partnerships targeting major health disorders such as obesity, diabetes, and cancer, enhanced by artificial intelligence drug repurposing technologies, and focuses on the R&D of novel patented nutraceuticals, specialized root extracts, proprietary complex generics, and innovative OTC products. Cosmos Health has also entered the telehealth space through the acquisition of ZipDoctor, Inc., based in Texas, USA. With a global distribution platform, the Company is currently expanding throughout Europe, Asia, and North America, and has offices and distribution centers in Thessaloniki and Athens, Greece, and in Harlow, UK. More information is available at www.cosmoshealthinc.com, www.skypremiumlife.com, www.cana.gr, www.zipdoctor.co, as well as LinkedIn and X.

Forward-Looking Statements

With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise, include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could", are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company's ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic and the war in Ukraine, on the Company's business, operations and the economy in general, and the Company's ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's filings with the SEC, which are available at the SEC's website (www.sec.gov). The Company disclaims any intention or obligation to update, or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations Contact:

BDG Communications
cosm@bdgcommunications.com
+44 207 0971 653

SOURCE: Cosmos Health Inc.

View the original press release on accesswire.com

FAQ

What Nasdaq compliance issues did Cosmos Health (COSM) resolve in August 2024?

Cosmos Health resolved two main compliance issues: 1) Filing compliance by submitting its 2023 Annual Report and Q1 2024 financial results, and 2) Meeting the Minimum Bid Price Rule, which was achieved earlier in July 2024.

When did Cosmos Health (COSM) receive notification letters from Nasdaq regarding compliance issues?

Cosmos Health received notification letters from Nasdaq on April 17 and May 21, 2024, stating that the company no longer met the periodic filing requirement for The Nasdaq Stock Market Filing Rule.

What specific reports did Cosmos Health (COSM) file to regain Nasdaq compliance in August 2024?

Cosmos Health filed its Form 10-K (Annual Report) for the year ended December 31, 2023, on August 5, 2024, and its Form 10-Q (First Quarter Report) for the period ended March 31, 2024, on August 19, 2024.

How did Cosmos Health's (COSM) CEO react to regaining Nasdaq compliance in August 2024?

CEO Greg Siokas stated that the company was 'extremely pleased' to have regained compliance with Nasdaq, both in terms of filing requirements and meeting the Minimum Bid Price Rule, resulting in full compliance with all Nasdaq listing requirements.