UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
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ITEM 3.01 NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD.
On February 16, 2024, Adamas One Corp. (the “Company” or the “Registrant”) received a letter (the “Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, since the Company has not yet filed its Quarterly Report on Form 10-Q for the quarterly period December 31, 2023 (the “Form 10-Q”), and because, as previously disclosed, the Company remains delinquent in filing its Annual Report on Form 10-K for the period ended September 30, 2023 (the “Form 10-K”), the Company does not comply with Nasdaq Listing Rule 5250(c)(1) for continued listing.
As a result of this delinquency of not timely filing the Form 10-Q and Form 10-K, the Company has until March 19, 2024, to submit a plan to regain compliance (the “Compliance Plan Due Date”) and if Nasdaq accepts such plan, Nasdaq may grant an exception of up to 180 calendar days from the original due date of the Form 10-K, or until July 16, 2024, to regain compliance. The Company intends to submit the plan by the Compliance Plan Due Date. However, there is no assurance that Nasdaq will accept the Company’s plan to regain compliance or, if accepted, that the Company will be able to regain compliance with Nasdaq’s rules by July 16, 2024. 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.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ADAMAS ONE CORP. | ||
Dated: February 23, 2024 | By: | /s/ John G. Grdina |
Name: Title: |
John G. Grdina President and Chief Executive Officer |