Wow at least I don’t have any of these problems,
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Posted On: 08/01/2019 4:54:49 PM
Wow at least I don’t have any of these problems, ouch!
Emmaus Life Sciences Receives Notice of Nasdaq Delisting Following Merger with MYnd Analytics
-- Emmaus to Appeal Nasdaq Staff's Determination --
TORRANCE, Calif., July 22, 2019 /PRNewswire/ -- Emmaus Life Sciences, Inc. (Nasdaq: EMMA), a leader in sickle cell disease treatment, announced today that it received a notice (the "Notice"
from the Listing Qualifications Staff of The Nasdaq Stock Market indicating that the company is not compliant with the $5 million minimum stockholders' equity requirement under Nasdaq Listing Rule 5550(b)(1) (the "Minimum Stockholders' Equity Requirement" for continued listing of Emmaus common stock on The Nasdaq Capital Market. The Notice also indicated that the company is not compliant with the 400 minimum Round Lot holder requirement under Nasdaq Listing Rule 5515(a)(1) for continued listing of Emmaus warrants listed under the ticker symbol "EMMAW." As previously disclosed, Emmaus anticipates filing a Form 25 to voluntarily delist the warrants. The delisting would take place 10 days thereafter, at which time the warrants are expected to be eligible for quotation on the OTC market.
On July 17, Emmaus and MYnd Analytics, Inc. jointly announced they completed a merger transaction. MYnd Analytics, formerly traded on Nasdaq under the ticker symbol "MYND," changed its name to Emmaus Life Sciences, Inc. and the formerly privately-owned Emmaus Life Sciences, Inc. changed its name to EMI Holding, Inc., and became a wholly owned operating subsidiary of the merged company.
The Notice stated that Nasdaq plans delist the common stock and the warrants on July 30, 2019 unless Emmaus timely requests an appeal of the Staff's determination as described below. The Notice indicated that Emmaus may appeal the Staff's determination before a Nasdaq appeals board by 4:00 P.M. Eastern time on July 26, 2019. The Notice also indicated that, if Emmaus does not request an appeal, the common stock and the warrants may be eligible to continue to be quoted on the OTC Market or in the "Pink Sheets."
Emmaus intends to timely file a request for an appeal of the Staff's determination and to take actions necessary to satisfy the Minimum Stockholders' Equity Requirement. There can be no assurance, however, that the appeal will be successful or that Emmaus will be able to satisfy this requirement. If the appeal is unsuccessful and the common stock is eventually delisted, it would be likely to have a material adverse effect on the market for the common stock and any trading prices of the common stock.
Emmaus Life Sciences Receives Notice of Nasdaq Delisting Following Merger with MYnd Analytics
-- Emmaus to Appeal Nasdaq Staff's Determination --
TORRANCE, Calif., July 22, 2019 /PRNewswire/ -- Emmaus Life Sciences, Inc. (Nasdaq: EMMA), a leader in sickle cell disease treatment, announced today that it received a notice (the "Notice"
from the Listing Qualifications Staff of The Nasdaq Stock Market indicating that the company is not compliant with the $5 million minimum stockholders' equity requirement under Nasdaq Listing Rule 5550(b)(1) (the "Minimum Stockholders' Equity Requirement" for continued listing of Emmaus common stock on The Nasdaq Capital Market. The Notice also indicated that the company is not compliant with the 400 minimum Round Lot holder requirement under Nasdaq Listing Rule 5515(a)(1) for continued listing of Emmaus warrants listed under the ticker symbol "EMMAW." As previously disclosed, Emmaus anticipates filing a Form 25 to voluntarily delist the warrants. The delisting would take place 10 days thereafter, at which time the warrants are expected to be eligible for quotation on the OTC market. On July 17, Emmaus and MYnd Analytics, Inc. jointly announced they completed a merger transaction. MYnd Analytics, formerly traded on Nasdaq under the ticker symbol "MYND," changed its name to Emmaus Life Sciences, Inc. and the formerly privately-owned Emmaus Life Sciences, Inc. changed its name to EMI Holding, Inc., and became a wholly owned operating subsidiary of the merged company.
The Notice stated that Nasdaq plans delist the common stock and the warrants on July 30, 2019 unless Emmaus timely requests an appeal of the Staff's determination as described below. The Notice indicated that Emmaus may appeal the Staff's determination before a Nasdaq appeals board by 4:00 P.M. Eastern time on July 26, 2019. The Notice also indicated that, if Emmaus does not request an appeal, the common stock and the warrants may be eligible to continue to be quoted on the OTC Market or in the "Pink Sheets."
Emmaus intends to timely file a request for an appeal of the Staff's determination and to take actions necessary to satisfy the Minimum Stockholders' Equity Requirement. There can be no assurance, however, that the appeal will be successful or that Emmaus will be able to satisfy this requirement. If the appeal is unsuccessful and the common stock is eventually delisted, it would be likely to have a material adverse effect on the market for the common stock and any trading prices of the common stock.
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