SMX announces receipt of Nasdaq delisting notice from Investing.com
NEW YORK, NY / ACCESSWIRE / January 10, 2025 / SMX (Security Matters) PLC (NASDAQ:SMX; SMXWW) announces that on January 7, 2025 it received a notice of deficiency letter from the Listing Qualifications Staff of Nasdaq Stock Market LLC regarding the Company’s non-compliance with Nasdaq Listing Rules 5620 (a), as the Company has not held the annual general meeting of shareholders within twelve months of the end of the Company’s fiscal year ending on December 31, 2023.
The Company intends to hold an annual general meeting of shareholders in February 2025, during which the Company will present to the shareholders for approval all issues that would have been presented at the annual general meeting held during the calendar year 2024 (if so held).
The Nasdaq panel of hearings scheduled for February 6, 2025 to consider the continued listing of the Company on Nasdaq will consider this additional deficiency in making its decision.
There can be no assurance that the Hearing Panel will determine the Company’s continued listing on the Nasdaq Capital Market or that the Company will demonstrate timely compliance with the terms of any extension Nasdaq may grant following the hearing.
For additional information, please contact:
SMX GENERAL INQUIRIES |
Follow us via our social channel @secmattersltd |
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Email: info@securitymattersltd.com |
@smx.tech |
About SMX:
SMX specializes in advanced labeling, tracking and verification solutions, ensuring product authenticity and supply chain transparency across industries. As global businesses face new and complex challenges related to carbon neutrality and meeting new government and regional regulations and standards, SMX is able to offer players along the value chain access to its labeling, tracking, measurement and digital platform technology for a more successful low-carbon transition economy
Forward-looking statements
Information in this press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements of expectations, hopes, beliefs, intentions or strategies regarding the future. Furthermore, any statements relating to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate”, “believe”, “consider”, “continue”, “could”, “estimate”, “expect”, “anticipate”, “intend”, “may”, “will”, “could” “plan”, “may”, “potential”, “anticipate”, “project”, “should”, “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that the statement is not forward-looking on the future. Forward-looking statements in this press release may include, for example: statements regarding the Company’s plans to regain compliance with Nasdaq rules for continued listing; the successful completion of the planned merger transaction with Ybyra on terms favorable to SMX or at all; successful initiation and implementation of SMX joint projects with manufacturers and other participants in the supply chain of steel, rubber and other materials; changes in SMX’s strategy, future operations, financial position, estimated revenues and losses, anticipated costs, prospects and plans; SMX’s ability to develop and launch new products and services, including the planned Plastic Cycle Token; SMX’s ability to successfully and efficiently integrate future expansion plans and opportunities; SMX’s ability to grow its business in a cost-effective manner; SMX’s product development timeline and estimated research and development costs; the implementation, market acceptance and success of SMX’s business model; developments and projections relating to SMX’s competitors and the industry; and SMX’s approach and goals with respect to technology. These forward-looking statements are based on information available as of the date of this press release and current expectations, forecasts and assumptions and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing views as of any subsequent date, and no obligation is assumed to update forward-looking statements to reflect events or circumstances after the date they are made, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. As a result of a number of known and unknown risks and uncertainties, actual results or performance may differ materially from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: the ability to maintain a listing of the Company’s stock on Nasdaq; changes in applicable laws or regulations; all long-term effects of the COVID-19 pandemic on SMX’s operations; the ability to implement business plans, forecasts and other expectations and to identify and realize additional opportunities; downside risk and the possibility of rapid change in the highly competitive industry in which SMX operates; the risk that SMX and its current and future collaborators will not be able to successfully develop and commercialize SMX’s products or services or will experience significant delays in doing so; the risk that the Company may never achieve or maintain profitability; the risk that the Company will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; the risk that the Company will have difficulties in managing its growth and business expansion; the risk that third-party suppliers and manufacturers are unable to fulfill their obligations fully and on time; the risk that SMX is unable to secure or protect its intellectual property; the possibility that SMX may be adversely affected by other economic, business and/or competitive factors; and other risks and uncertainties described in SMX’s filings from time to time with the Securities and Exchange Commission.
SOURCE: SMX (security issues)
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