Ideanomics Announces Receipt of Notice from Nasdaq Regarding Late Filing of Quarterly Report on Form 10-Q

Rhea-AI Summary

Ideanomics (NASDAQ: IDEX) received a notice from Nasdaq stating that the company is not in compliance with listing rules due to the delay in filing its Form 10-Q for the period ended June 30, 2023.

Positive

• The delay in filing the Form 10-Q may negatively impact investor confidence and result in a decrease in stock price.

Negative

• The company's non-compliance with Nasdaq listing rules could lead to potential delisting and a loss of investor trust.

NEW YORK, Aug. 16, 2023 /PRNewswire/ -- Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company") today announced that on August 15, 2023, the Company received a notice (the "10-Q Notice") from the staff of the Nasdaq Listing Qualifications department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") stating that because the Company has not yet filed its Form 10-Q for the period ended June 30, 2023 (the "Form 10-Q"), the Company is not in compliance with Nasdaq Listing Rules for continued listing.

About Ideanomics 

Ideanomics (NASDAQ: IDEX) is a global group with a simple mission: to accelerate the commercial adoption of electric vehicles. By bringing together vehicles and charging technology with design, implementation, and financial services, we provide the completeness of solutions needed for the commercial world to commit to an EV future. To keep up with Ideanomics, please follow the company on social @ideanomicshq or visit https://ideanomics.com. 

Safe Harbor Statement 

This press release contains "forward-looking statements" within the meaning of the federal securities laws. All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," or similar expressions, involve known and unknown risks and uncertainties, and include the statement regarding the completion of the business combination within a certain period of time, if ever. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and uncertainties, such as risks related to: our ability to obtain necessary regulatory approvals and other risks and uncertainties disclosed under the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and similar disclosures in subsequent reports filed with the SEC, which are available on the SEC website at www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. 

Contacts: 

Tony Sklar, SVP of Investor Relations
1441 Broadway, Suite 5116, New York, NY 10018
ir@ideanomics.com

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SOURCE Ideanomics

FAQ

What is the notice received by Ideanomics?

Ideanomics received a notice from Nasdaq stating non-compliance with listing rules due to the delay in filing its Form 10-Q.

What is the Form 10-Q?

Form 10-Q is a quarterly report filed by publicly traded companies with the Securities and Exchange Commission (SEC) that provides financial performance and other relevant information.

What are the potential consequences of non-compliance with Nasdaq listing rules?

Non-compliance with Nasdaq listing rules could lead to potential delisting and a loss of investor trust.