Stran & Company announced on November 22, 2024, that it received a written notification from Nasdaq's Listing Qualifications staff due to its failure to timely file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024. This indicates non-compliance with Nasdaq Listing Rule 5250(c)(1).
Nasdaq had previously granted the company an exception until December 16, 2024, to file its delinquent Quarterly Reports for the quarters ended March 31, 2024, and June 30, 2024. Any further exception will be limited to a maximum of 180 calendar days from the due date of the initial delinquent filing.
The company has until December 6, 2024, to submit an update to its plan to regain compliance with Nasdaq Listing Rules. While the notification has no immediate effect on the listing, it highlights a significant regulatory challenge that could impact the company's ability to maintain its Nasdaq listing.
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