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MDJM Ltd (NASDAQ:MDJH) announced Tuesday that it has received notice from the Nasdaq Stock Market that a one-year Discretionary Panel Monitor has been imposed on the company, effective from November 19. The decision was made under Nasdaq Listing Rule 5815(d)(4)(A), according to a statement from the company.
The notification follows a previous communication, reported in a Form 6-K filed on October 31, in which MDJM Ltd was advised that it had maintained compliance with Nasdaq listing rules through October 20, as required by a June 10 decision from the Nasdaq Hearings Panel.
According to the latest letter from Nasdaq, if MDJM Ltd fails to maintain compliance with any continued listing requirement during the one-year monitoring period, the Nasdaq Listing Qualifications Department will issue a Delist Determination Letter. The company will not be permitted to submit a plan of compliance for any deficiency that arises during this period, and the department will not grant additional time to regain compliance.
MDJM Ltd is a Cayman Islands-incorporated real estate services company with its principal executive office in the United Kingdom. Its shares are listed on the Nasdaq Capital Market under the ticker NASDAQ:MDJH.
This information is based on a press release statement contained in the company’s recent SEC filing.
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