NEW YORK, May 29, 2020 /PRNewswire/ -- Pareteum
Corporation (Nasdaq: TEUM), (the "Company"), a cloud
communications platform company, today announced that on
May 27, 2020 the Company received a
letter from the Office of General Counsel of The Nasdaq Stock
Market LLC ("Nasdaq") informing the Company that the Nasdaq
Hearings Panel (the "Panel") has granted the Company's stay request
to continue to be eligible to trade on the Nasdaq Capital
Market, pending the issuance of a formal decision on behalf of
the Panel following the hearing.
As previously reported, on May 12,
2020, the Company received a determination letter from the
Listing Qualifications Staff of The Nasdaq Stock Market LLC
("Nasdaq") indicating that the Company is not in compliance with
the requirement that a listed company timely file all required
periodic financial reports with the Securities and Exchange
Commission to remain listed on The Nasdaq Capital Market, as set
forth in Nasdaq Listing Rule 5250(c)(1) (the "Rule").
On May 19, 2020, the Company
appealed the delisting determinations to Nasdaq's Panel, and
requested that the stay of delisting, which otherwise would expire
on June 3, 2020, pursuant to Rule
5815(a)(1)(B), be extended until the Panel issued a final decision
on the matter.
About Pareteum Corporation
Millions of people and devices are connected around the world using
Pareteum's Global Cloud Communications Platform, enhancing their
mobile experience. Pareteum unleashes the power of applications and
mobile services to bring secure, ubiquitous, scalable, and
seamlessly available voice, video, SMS/text messaging, data, media,
and content enablement to our customers. In so doing, we are able
to make worldwide communications services easily and economically
accessible to everyone. By harnessing the value of our cloud
communications platform, Pareteum serves enterprises,
communications service providers, early stage innovators,
developers, IoT, and telecommunications infrastructure providers.
Pareteum envisions a new mobile communications experience,
imagining what will be and delivering now. For more information
please visit: www.pareteum.com.
Forward Looking Statements
Certain statements contained in this press release constitute
"forward-looking statements" as defined by the Private Securities
Litigation Reform Act of 1995. Such statements may include, without
limitation, statements with respect to the Company's plans and
objectives, projections, expectations and intentions. These
forward-looking statements are based on current expectations,
estimates and projections about the Company's industry,
management's beliefs and certain assumptions made by management.
Readers are cautioned that any such forward-looking statements are
not guarantees of future performance and are subject to certain
risks, uncertainties and assumptions that are difficult to predict.
We discuss many of these risks, uncertainties and assumptions in
Item 1A under the heading "Risk Factors" in our Annual Report on
Form 10-K for the year ended December 31,
2018, as updated by our other filings with the SEC.
Because such statements involve risks and uncertainties, the actual
results and performance of the Company may differ materially from
the results expressed or implied by such forward-looking
statements. Given these risks and uncertainties, readers are
cautioned not to place undue reliance on such forward-looking
statements. Unless otherwise required by law, the Company also
disclaims any obligation to update its view of any such risks or
uncertainties or to announce publicly the result of any revisions
to the forward-looking statements made here. Additional information
concerning certain risks and uncertainties that could cause actual
results to differ materially from those projected or suggested in
the Company's filings with the Securities and Exchange Commission,
copies of which are available from the SEC or may be obtained upon
request from the Company.
Media Inquiries
Press@pareteum.com
Pareteum Investor Relations Contacts:
Investor
Relations +1 (646) 975-0400
Investor.relations@pareteum.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/pareteum-receives-listing-extension-from-nasdaq-301067531.html
SOURCE Pareteum Corporation