AmpliTech Group Addresses Nasdaq Non-Compliance Notice
AmpliTech Group Addresses Nasdaq Non-Compliance Notice
Located in Hauppauge, New York, AmpliTech Group, Inc. (Nasdaq: AMPG, AMPGW) is a prominent designer, developer, and manufacturer of sophisticated signal processing components tailored for satellite communications, Public and Private 5G networks, and various other communication technologies. The company has recently received a notification from The NASDAQ Stock Market indicating its non-compliance with the minimum bid price requirement under Listing Rule 5550(a)(2).
Understanding the Nasdaq Notification
This deficiency notice was triggered due to the company's closing bid price falling below the necessary $1.00 per share threshold for a span of 30 consecutive business days, specifically between mid-August and late September. However, it's important to note that this notice serves only as an alert to the company and does not currently affect the listing or trading of its securities on The Nasdaq Capital Market.
Details of the Compliance Period
According to the notification, AmpliTech Group has a compliance period of 180 calendar days, extending until the end of March. To achieve compliance, the company will need its common stock price to reach at least $1.00 for a minimum of ten consecutive business days within this timeframe. Failure to meet this requirement may result in additional notifications or potential delisting.
Company’s Action Plan
In response to the notification, the company is actively monitoring its common stock's bid price and will explore all available options for regaining compliance throughout the compliance period. This proactive approach aims to ensure that the necessary measures are in place to sustain the company's listing.
About AmpliTech Group
AmpliTech Group, Inc. operates through five distinct divisions, which include AmpliTech Inc., Specialty Microwave, Spectrum Semiconductors Materials, AmpliTech Group Microwave Design Center, and AmpliTech Group True G Speed Services. The company has established a reputation for itself as a leader in the design and manufacturing of advanced radio frequency (RF) microwave components, as well as cutting-edge solutions for 5G networks.
Commitment to Technology and Innovation
Serving various global markets—ranging from satellite communications and telecommunications (5G & IoT) to space exploration and defense—AmpliTech Group is resolute in its dedication to advancing technology and fostering innovation. This commitment emphasizes the importance the company places on remaining at the forefront of the rapidly evolving tech landscape.
Frequently Asked Questions
What triggered the Nasdaq notice for AmpliTech Group?
The notice was triggered by the company's common stock bid price falling below the required $1.00 threshold for 30 consecutive business days.
How long does AmpliTech Group have to regain compliance?
AmpliTech Group has a compliance period of 180 calendar days, lasting until March 26, 2025.
What happens if AmpliTech Group does not regain compliance?
If the company does not meet the compliance requirement by the deadline, it may face additional notifications or potentially be delisted.
What is AmpliTech Group known for?
AmpliTech Group is recognized for its advanced signal processing components and 5G network solutions across various communication sectors.
What steps is the company taking to address the notice?
The company is closely monitoring the bid prices of its stocks and evaluating options to regain compliance during the specified period.
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