The form is an annual report required by the U.S. Securities and Change Charge that gives a top level view of a publicly traded agency’s financial effectivity.
The company launched in a press launch that it has acquired a letter from Nasdaq’s Itemizing {{Qualifications}} Division after it did not file a Form 10-Okay for its fiscal yr ended Sept. 30.
The lab-grown diamond producer is headquartered in Scottsdale, Arizona, and has companies in Greenville, South Carolina.
The company holds 36 patents, using a proprietary chemical vapor deposition course of to develop diamond crystals.
It trades beneath the ticker picture JEWL and its stock remaining closed at about $0.60 per share.
If the company would not regain compliance in a nicely timed technique, its widespread stock will possible be subject to delisting from Nasdaq.
Adamas One has until March 19 to file the report or submit a plan to Nasdaq to be once more in compliance, in accordance with the discharge.
If Nasdaq accepts the plan, Adamas One has as a lot as 180 days from the due date for submitting to regain compliance.
If the plan should not be accepted, the company should attraction that decision to a Nasdaq Hearings Panel.
Inside the launch, Adamas One mentioned, “The company is working diligently and expects to file its Annual Report 2023 Form 10-Okay shortly, which could eradicate the need for the company to submit a correct plan to regain compliance.”
The company launched plans in August to build up India-based lab-grown diamond producer Flawless Appeal to Grown Diamonds LLP.
Adamas One did not reply to a request for an change on the acquisition.