Cemtrex Achieves Compliance with NASDAQ Standards for Listing

Cemtrex's Recent Achievement with NASDAQ Compliance

Cemtrex Inc. (NASDAQ: CETX, CETXP) proudly announces that it has regained compliance with the minimum bid price requirement set forth by Nasdaq. This important notification from the Listing Qualifications Department allows Cemtrex to continue its listing and trading on The Nasdaq Stock Market, reinforcing the company's position in the financial arena.

Background of Nasdaq Notification

The journey to regain compliance began when Cemtrex received a notification regarding its stock's performance. On June 14, it was indicated that for 30 consecutive business days, the closing bid price fell below the minimum requirement of $1 per share. This served as a clear challenge for the company, prompting an urgent response to rectify the situation.

Efforts to Comply

Cemtrex was granted a period of 180 calendar days to meet Nasdaq's requirements. This timeline created a pressing yet manageable window for the company to restore its compliance status. During this period, Cemtrex's management implemented a strategic response plan aimed at achieving the necessary stock price.

Strategic Stock Adjustment

To adhere to Nasdaq's listing standards effectively, Cemtrex executed a 1-for-35 reverse stock split on November 26. This strategic move aims to enhance the stock's market value, providing a fresh start for trading under stricter compliance measures. As of the split, shares of common stock are traded under the established symbol “CETX” and a new CUSIP number, helping to streamline their identification in the marketplace.

About Cemtrex Inc.

Cemtrex not only operates as a publicly traded company but also comprises two significant subsidiaries: Vicon Industries Inc. and Advanced Industrial Services Inc. Each subsidiary brings a wealth of experience and innovation to the company's portfolio.

Vicon Industries' Role

Vicon Industries, a premier subsidiary of Cemtrex, defines itself as a global leader in security and surveillance technology. Founded in 1967, Vicon has built a solid reputation by providing advanced security solutions to businesses, municipalities, educational institutions, and healthcare facilities. The company excels in crafting comprehensive security surveillance systems, affording peace of mind and operational efficiency through cutting-edge technology.

AIS and its Contribution

Advanced Industrial Services (AIS) is another vital component of Cemtrex’s operations. Specializing in industrial contracting services, AIS is distinguished in the fields of millwrighting, rigging, piping, electrical work, and welding. The firm utilizes a fleet of state-of-the-art equipment to guarantee prompt and secure installation of production machinery across diverse industrial sectors, including automotive, packaging, and chemical industries.

Continuous Innovation

Cemtrex is deeply committed to staying at the forefront of innovation in both the security and industrial service markets. By investing in the latest technologies and maintaining actively trained staff, the company ensures it meets and exceeds industry standards. Each project reflects its dedication to quality service and operational excellence.

Looking Ahead: Compliance and Beyond

With its regained compliance status under Nasdaq requirements, Cemtrex looks toward the future with optimism. The company’s leadership is not only focused on solidifying its position on the stock market but also on spearheading advancements in its service sectors. As Cemtrex continues to adapt to market demands and technological innovations, it is poised for sustained growth and success.

Frequently Asked Questions

What does compliance with NASDAQ mean for Cemtrex?

Compliance with NASDAQ means that Cemtrex can continue trading on the exchange, which is vital for attracting investors and maintaining capital.

How did Cemtrex regain compliance?

Cemtrex regained compliance by executing a 1-for-35 reverse stock split, increasing the stock's value above the required minimum bid price.

What are the main subsidiaries of Cemtrex?

The main subsidiaries of Cemtrex are Vicon Industries Inc. and Advanced Industrial Services Inc.

What services does Vicon Industries provide?

Vicon Industries specializes in advanced security and surveillance solutions tailored for various sectors like education, healthcare, and municipal services.

What industrial services does Advanced Industrial Services offer?

Advanced Industrial Services provides comprehensive industrial contracting services, including installation of machinery and operational support across multiple industries.

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