BIMI Receives Nasdaq Notification of Non-Compliance with Listing Rule 5250(c)(1)
April 20 2023 - 6:00AM
On April 18, 2023, BIMI International Medical Inc. (the “Company”)
today announced that on April 18, 2023, the Company received a
notification letter from The Nasdaq Stock Market LLC (“Nasdaq”)
stating that, because the Company has not yet filed its Annual
Report on Form 10-K for the period ended December 31, 2022 (the
“Form 10-K”), the Company is no longer in compliance with Nasdaq
Listing Rule 5250(c)(1). Nasdaq Listing Rule 5250(c)(1) requires
listed companies to timely file all required periodic financial
reports with the Securities and Exchange Commission. The Nasdaq
letter has no immediate effect on the listing of the Company’s
shares.
Nasdaq’s notification letter states that the Company has 60
calendar days to submit to Nasdaq a plan to regain compliance with
the Nasdaq Listing Rules. If Nasdaq accepts the Company’s plan,
then Nasdaq may grant the Company up to 180 days from the
prescribed due date for filing the Form 10-K to regain compliance.
If Nasdaq does not accept the Company’s plan, then the Company will
have the opportunity to appeal that decision to a Nasdaq hearings
panel.
The Company intends to resolve the deficiency and regain
compliance with the Nasdaq Listing Rules.
About BIMI International Medical Inc.
BIMI International Medical Inc. is a healthcare products and
services provider, offering a broad range of healthcare products
and related services. For more information, please visit
www.usbimi.com.
Safe Harbor Statement
Certain matters discussed in this news release are
forward-looking statements that involve a number of risks and
uncertainties including, but not limited to, the Company’s ability
to achieve profitable operations, its ability to continue to
operate as a going concern, its ability to continue to meet NASDAQ
continued listing requirements, the effects of the spread of
COVID-19, the demand for the Company’s products and services in the
People’s Republic of China, general economic conditions and other
risk factors detailed in the Company’s annual report and other
filings with the United States Securities and Exchange
Commission.
Investor Relations Contact
Investor Relations Department of BIMI International Medical Inc.
Email: vinson@usbimi.com Tel: +1 949 981 6274
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