Cosmos Health Requests Appeal from the Nasdaq Stock Market
Cosmos Health (NASDAQ: COSM) announced its appeal against a Nasdaq delisting due to a failure to maintain a minimum bid price of $0.10 per share. The company received a non-compliance letter on November 10, 2022, following a previous notice regarding its inability to meet a $1.00 per share requirement. Trading under Nasdaq will continue beyond November 21, 2022, as the company seeks a reverse stock split approval at its December 2, 2022, shareholder meeting. CEO Greg Siokas emphasized their commitment to remedying the situation for shareholders.
- The stock will continue to trade on Nasdaq beyond November 21, 2022, due to the appeal.
- The company plans to propose a reverse stock split to meet compliance requirements.
- Received a non-compliance letter from Nasdaq for failing to maintain a minimum bid price.
- Prior non-compliance could lead to delisting if not properly addressed.
Stock will continue to trade on Nasdaq beyond November 21, 2022
CHICAGO, IL / ACCESSWIRE / November 17, 2022 / Cosmos Holdings d/b/a Cosmos Health, Inc. ("the Company") (NASDAQ:COSM), a global healthcare group with proprietary lines of nutraceuticals and distributor of pharmaceuticals, branded generics, OTC medications and medical devices, today announced that on November 10, 2022, Cosmos Holdings received a non-compliance letter from the Nasdaq Stock Market for its failure to maintain a minimum closing bid price of
Pursuant to a prior non-compliance letter from Nasdaq dated July 26, 2022, the Company had until January 23, 2023, to regain compliance by the closing bid price of the Company's common stock being at least
Greg Siokas, Chief Executive Officer of Cosmos Health, said, "We have requested a hearing with Nasdaq to address this issue. By virtue of that request our stock will continue to trade on the Nasdaq exchange beyond November 21, 2022. We are taking all the necessary steps to remedy this situation and to maintain our Nasdaq listing for the benefit of our loyal shareholders."
About Cosmos Health, Inc.
Cosmos Health Inc. (Nasdaq: COSM) is a global healthcare group that was incorporated in 2009 and is headquartered in Chicago, Illinois. Cosmos Health is engaged in the nutraceuticals sector through its own proprietary lines of products "Sky Premium Life" and "Mediterranation." Additionally, the Company is operating in the pharmaceutical sector through the provision of a broad line of branded generics and OTC medications and is involved in the healthcare distribution sector through its subsidiaries in Greece and UK serving retail pharmacies and wholesale distributors. Cosmos Health is strategically focused on the R&D of novel patented nutraceuticals (IP) and specialized root extracts as well as on the R&D of proprietary complex generics and innovative OTC products. Cosmos has developed a global distribution platform and is currently expanding throughout Europe, Asia and North America. Cosmos Health has offices and distribution centers in Thessaloniki and Athens, Greece and Harlow, UK. More information is available at www.cosmosholdingsinc.com and www.skypremiumlife.com.
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:
Lytham Partners, LLC
Ben Shamsian
E: shamsian@lythampartners.com
P: 646-829-9701
SOURCE: Cosmos Holdings, Inc.
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https://www.accesswire.com/726723/Cosmos-Health-Requests-Appeal-from-the-Nasdaq-Stock-Market
FAQ
What is the current status of Cosmos Holdings on Nasdaq as of November 2022?
Why did Cosmos Holdings receive a non-compliance letter from Nasdaq?
What is Cosmos Health planning to do to regain compliance with Nasdaq?
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