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ORLANDO, FL - Laser Photonics Corp, a company specializing in miscellaneous electrical machinery, equipment, and supplies, has received a notification from the Nasdaq Stock Market LLC indicating a potential delisting due to non-compliance with Nasdaq's continued listing requirements. The notice, dated Monday, August 20, 2024, was issued because the company failed to file its Form 10-Q for the period ended June 30, 2024, on time.
Laser Photonics Corp, trading under the ticker NASDAQ:LASE, now has 60 days to submit a plan to regain compliance with Nasdaq's Listing Rules. If Nasdaq accepts the company's plan, it may grant an extension of up to 180 calendar days from the original filing due date, or until February 17, 2025, for the company to file its overdue financials and regain compliance.
The company has announced that it anticipates making the required filing by Tuesday, August 27, 2024, which should resolve the current issue and bring the company back into compliance with Nasdaq's listing standards.
This development is crucial for investors and stakeholders of Laser Photonics Corp, as failure to regain compliance within the given timeframe could result in the company's stock being delisted from the Nasdaq exchange. Delisting typically leads to reduced liquidity and visibility in the market, which can affect stock valuation and shareholders' investments.
As of now, Laser Photonics Corp's management has not provided further details on the reasons for the delay in filing the Form 10-Q. This information is based on a press release statement filed with the Securities and Exchange Commission. The company's leadership, including President and CEO Wayne Tupuola, is expected to address the compliance issue promptly to avoid the repercussions of a delisting.
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