TSX drop after Canadian index edges higher in prior session
NEW YORK - Integrated Media Technology Limited (NASDAQ:IMTE) announced Friday it has received a delisting determination letter from Nasdaq due to its failure to file its annual Form 20-F for the year ended December 31, 2024. The micro-cap company, currently trading at $0.93 with a market capitalization of just $3.02 million, has seen its stock price plummet 47% over the past year.
According to the company’s press release statement, IMTE faces suspension and delisting from the Nasdaq Capital Market on November 10, 2025, unless it successfully appeals the decision. InvestingPro data shows the stock generally trades with high price volatility, with shares down nearly 27% year-to-date.
The Australian company, which operates in Halal products trading and manufactures nano coated plates for filters and electronic glass, had previously been granted an exception until October 29, 2025, to comply with Nasdaq’s Listing Rule 5250(c)(1) requiring timely filing of periodic financial reports.
IMTE stated it plans to request a hearing before the Nasdaq Hearings Panel, which will automatically stay any suspension or delisting action for 15 days from the request date. The company may also apply for an extended stay pending the hearing outcome.
The Panel will review the extended stay request and notify IMTE of its decision within 15 calendar days following the hearing request deadline.
The delisting determination comes after Nasdaq staff determined IMTE failed to file the required financial documents during the previously granted extension period.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.