US LNG exports surge but will buyers in China turn up?
In a challenging market environment, Imac Holdings Inc (NASDAQ:BACK). stock has touched a new 52-week low, reaching a price level of just $0.41, marking a dramatic decline from its 52-week high of $7.75. According to InvestingPro data, the company’s market capitalization has shrunk to just $1.1 million, with a concerning "WEAK" Financial Health Score of 1.42. This latest dip reflects a significant downturn for the company, which has seen its stock value plummet by 63.24% over the past year. Investors have been closely monitoring Imac Holdings as it navigates through a period marked by volatility and uncertainty, with the stock’s performance raising concerns about the company’s near-term prospects. With earnings expected in just 14 days, stakeholders are keenly awaiting the company’s response to this latest challenge. InvestingPro subscribers can access 8 additional key insights about IMAC’s financial health and market position.
In other recent news, IMAC Holdings has been actively addressing several compliance issues with Nasdaq. The company recently filed a definitive proxy statement with the SEC, seeking stockholder approval for proposals related to its Series G Preferred Stock and an increase in authorized common stock shares. Concurrently, IMAC Holdings is facing a potential delisting from the Nasdaq Capital Market due to not meeting the minimum stockholders’ equity requirement of $2.5 million. The company has appealed this decision, with a hearing scheduled, allowing its stock to continue trading during the process.
IMAC Holdings also resolved a compliance issue by reconstituting its audit committee, meeting Nasdaq’s requirements after appointing Jeffrey Busch. Additionally, the company addressed a separate compliance matter by filing overdue periodic financial reports, regaining compliance with Nasdaq’s periodic reporting requirements. Despite these challenges, the company has made strides to align with regulatory standards and ensure its governance is in accordance with Nasdaq’s listing rules. These developments reflect IMAC Holdings’ ongoing efforts to maintain its listing status and secure shareholder support for its strategic initiatives.
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