TRxADE Health, Inc. Announces Receipt of Notice from Nasdaq Regarding Late Filing of Annual Report on Form 10-K
April 23 2024 - 4:05PM
TRxADE HEALTH, Inc. (
Nasdaq: MEDS) (the
“Company”), announced that, on April 17, 2024, the Company received
a notice (the “Notice”) from the Nasdaq Listing Qualifications
Department (“Nasdaq”) indicating that because the Company had not
yet filed its Annual Report on Form 10-K for the 2023 fiscal year
(the “Form 10-K”), the Company was not compliant with the timely
filing requirement for continued listing under Nasdaq Listing Rule
5250(c)(1) (the “Listing Rule”), which requires listed companies to
timely file all required periodic reports with the Securities and
Exchange Commission.
The Notice had no immediate effect on the
listing or trading of the Company’s common stock.
The Notice indicated that the Company must, no
later than June 17, 2024, submit a plan to regain compliance with
respect to the filing requirement. On April 22, 2024, the Company
filed the Form 10-K with the Securities and Exchange Commission,
and, as a result of that filing the Company believes it has
regained compliance with the Listing Rule.
Forward-Looking Statements
This press release contains certain statements
that may be deemed to be “forward-looking statements” within the
federal securities laws, including the safe harbor provisions under
the Private Securities Litigation Reform Act of 1995. Statements
that are not historical are forward- looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Forward-looking
statements relate to future events or our future performance or
future financial condition. These forward-looking statements are
not historical facts, but rather are based on current expectations,
estimates and projections about our Company, our industry, our
beliefs and our assumptions. Such forward-looking statements
include, but are not limited to, statements regarding our or our
management team’s expectations, hopes, beliefs, intentions or
strategies regarding the future. In addition, any statements that
refer to projections, forecasts or other characterizations of
future events or circumstances, including any underlying
assumptions, are forward-looking statements. In some cases, you can
identify forward-looking statements by the following words:
“anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,”
“intend,” “may,” “ongoing,” “plan,” “potential,” “predict,”
“project,” “should,” or the negative of these terms or other
similar expressions, but the absence of these words does not mean
that a statement is not forward-looking. Forward-looking statements
are subject to a number of risks and uncertainties (some of which
are beyond our control) that may cause actual results or
performance to be materially different from those expressed or
implied by such forward-looking statements. Accordingly, readers
should not place undue reliance on any forward-looking statements.
These risks include risks relating to agreements with third
parties; our ability to raise funding in the future, as needed, and
the terms of such funding, including potential dilution caused
thereby; our ability to continue as a going concern; security
interests under certain of our credit arrangements; our ability to
maintain the listing of our common stock on the Nasdaq Capital
Market; claims relating to alleged violations of intellectual
property rights of others; the outcome of any current legal
proceedings or future legal proceedings that may be instituted
against us; unanticipated difficulties or expenditures relating to
our business plan; and those risks detailed in the Company’s most
recent Annual Report on Form 10-K and subsequent reports filed with
the Securities and Exchange Commission.
Forward-looking statements speak only as of the
date they are made. The Company undertakes no obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise that occur after that
date, except as otherwise provided by law.
Investor Contact:
TRxADE Health, Inc.2420 Brunello TraceLutz, Florida
33558Email: IR@trxade.com
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