Graphjet Technology announced the filing of its Annual Report on Form 10-K for the fiscal year ended September 30, 2024. This filing addresses one of the key non-compliance issues previously cited by Nasdaq regarding delayed financial reports.
The company also disclosed that new controlling shareholder, Mr. Aiden Lee, has provided funds to support the company's transformation and the completion of its audit. Graphjet is actively engaging an experienced accounting services firm to expedite the finalization and filing of its Quarterly Reports on Form 10-Q for December 31, 2024, and March 31, 2025.
A hearing before the Nasdaq Hearings Panel is scheduled for July 17, 2025, where the company will appeal its delisting determination. Furthermore, Graphjet plans to hold a shareholders’ meeting on July 30, 2025, to approve a reverse stock split, aiming to meet Nasdaq's minimum bid price requirements and attract new investors.
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