Ideanomics Receives Anticipated Notice of Additional Filing Delinquency from Nasdaq
Ideanomics (NASDAQ: IDEX) announced it has received an additional notice of non-compliance from Nasdaq due to its failure to file the Form 10-Q for the quarter ended June 30, 2022. This follows previous notices related to non-compliance with other filing requirements. The company aims to regain compliance by September 12, 2022, to avoid further repercussions, including a hearing panel request. The press release emphasizes the company's commitment to the commercial adoption of electric vehicles.
- Company aims to regain compliance with Nasdaq listing requirements by September 12, 2022.
- Received multiple notices of non-compliance from Nasdaq related to late filings.
- Failure to file Form 10-Q could lead to increased scrutiny and potential delisting.
NEW YORK, Aug. 12, 2022 /PRNewswire/ -- Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company"), a global company focused on accelerating the adoption of commercial electric vehicles (EV), today announced that, as expected, the Company received an additional notice of non-compliance from the Listing Qualifications Staff (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq") due to the Company's failure to timely file the Form 10-Q for the quarter ended June 30, 2022 with the Securities and Exchange Commission (the "SEC"), as required by Nasdaq Listing Rule 5250(c)(1). As previously disclosed, the Company earlier received notices from Nasdaq regarding its non-compliance with the Rule with respect to the Forms 10-K and 10-Q for the fiscal year ended December 31, 2021, and quarter ended March 31, 2022, respectively. The Company plans to regain compliance with the filing requirement by no later than September 12, 2022, which is the deadline in order to remain compliant with Nasdaq requirements. In the event that such deadline is not met then the Company will apply to Nasdaq for a hearing panel.
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.
This press release contains certain statements that may include "forward-looking statements". 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 statements regarding the Company's plans to provide the Staff with an update regarding its compliance efforts and its plan to regain compliance with the filing requirement by no later than September 12, 2022. 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. All forward-looking statements in this press release are expressly qualified in their entirety by these risk factors in our most recent Form 10-K and Form 10-Q filed with the SEC, and similar disclosures in subsequent reports filed with the SEC, which are available on the SEC website at www.sec.gov. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Contacts
Ideanomics, Inc.
Tony Sklar, SVP of Investor Relations
1441 Broadway, Suite 5116 New York, NY 10018.
Email: ir@ideanomics.com
Malory Van Guilder, Skyya PR for Ideanomics
malory@skyya.com
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SOURCE Ideanomics
FAQ
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