Warrantee Inc. Regains Compliance with Nasdaq Filing Requirements
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Insights
The confirmation of Warrantee Inc.'s compliance with Nasdaq's filing requirements is a significant development, particularly for current and potential investors. Achieving compliance indicates that the company has addressed the concerns related to timely financial reporting, which is a critical aspect of corporate governance and transparency. The immediate effect is likely to be a boost in investor confidence, potentially reflected in the company's stock performance.
From a financial perspective, the maintenance of the company’s listing on the Nasdaq Capital Market ensures continued access to a broad pool of institutional investors and maintains the liquidity of Warrantee's shares. This is crucial for facilitating capital-raising activities and for providing shareholders with the ability to trade shares freely. The cancellation of the delisting hearing also removes an overhang of uncertainty that may have been affecting the stock price negatively.
Warrantee's core business in marketing and market research technology is highly dependent on investor and market perception. The news of regaining compliance with Nasdaq's filing requirements could be seen as an indicator of operational stability and managerial effectiveness. This could potentially lead to increased business opportunities as clients and partners may interpret this development as a sign of reliability and improved risk profile.
Furthermore, the company's ability to file the required Form 20-F on time after previous delays may suggest improvements in internal processes, which could be a positive signal to the market about Warrantee's operational capabilities. Company stakeholders, including clients, employees and suppliers, might also view this as a positive development, reinforcing their commitment to the company.
Compliance with regulatory requirements, such as the Nasdaq Listing Rule 5250(c)(1), is fundamental for publicly traded companies. This rule mandates timely filing of periodic financial reports, which is essential for maintaining market integrity and protecting investors. Warrantee's successful navigation of this regulatory hurdle demonstrates that the company has remedied the previous shortcomings in its reporting process.
It is also noteworthy that the swift resolution of this compliance issue may mitigate potential legal risks associated with being delisted, such as shareholder lawsuits or loss of investor trust. By avoiding delisting, Warrantee preserves its reputation and minimizes disruption to its operations, which could have resulted from the complexities of transitioning to an over-the-counter (OTC) market.
TOKYO, Japan, Feb. 05, 2024 (GLOBE NEWSWIRE) -- Warrantee Inc. (Nasdaq: WRNT) (the "Company" or "Warrantee"), a Japanese marketing and market research technology company, today announced that it had received a letter from the Nasdaq Office of General Office dated February 1, 2024, confirming that the Company had regained compliance with Nasdaq's filing requirement set forth in Listing Rule 5250(c)(1), since the Company filed its Form 20-F for the period ended March 31, 2023 on January 31, 2024. As a result, the scheduled hearing before the Hearings Panel on February 8, 2024 relating to the delisting determination resulting from the failure to file such Form 20-F had been cancelled and the matter was closed. The Company’s American Depositary Shares will continue to be listed and traded on the Nasdaq Capital Market under the symbol “WRNT.”
About Warrantee Inc.
Founded in Japan in 2013, Warrantee is a Japanese marketing and market research technology company that helps corporate sponsors unlock value through targeted marketing campaigns while providing its corporate sponsors' potential customers who participate in its campaigns with extended warranty coverage on durables or certain healthcare benefits sponsored by its corporate sponsors. Warrantee focuses on developing a suite of specialized marketing and market research services and these services are designed to collect and leverage targeted and specialty data of its corporate sponsors' potential customers to provide proprietary market insights to its corporate sponsors and promote the sales of their products. At the core of Warrantee's current business of providing marketing campaign services is its trinity model, which connects three stakeholders: corporate sponsors, campaign participants, whom Warrantee also refers to as users, and Warrantee, and is designed to benefit all three stakeholders. For more information, please visit the Company's website: https://warrantee.com/ir/.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as "may," "will," "should," "believe," "expect," "could," "intend," "plan," "anticipate," "estimate," "continue," "predict," "project," "potential," "target," "goal," or other similar expressions in this prospectus. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission.
For investor and media inquiries, please contact:
Warrantee Inc.
Investor Relations Department
Email: info@warrantee.co.jp
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
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