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OneMedNet Corporation, a Delaware-incorporated company specializing in commercial physical and biological research, has been notified by The Nasdaq Stock Market LLC that its stock does not meet the minimum bid price requirement, according to a recent 8-K filing with the U.S. Securities and Exchange Commission. The company’s common stock, currently trading at $0.53, has closed below the required $1.00 minimum bid price for the past 30 consecutive business days, violating Nasdaq’s Listing Rule 5550(a)(2). InvestingPro data shows the stock has fallen 63.54% year-to-date, with its price ranging from $0.43 to $3.37 over the past 52 weeks.
The notice, received on Monday, April 10, 2025, triggers a 180-day period ending on October 7, 2025, for OneMedNet to regain compliance. To do so, the company’s common stock must maintain a minimum bid price of $1.00 or more for at least ten consecutive business days within this timeframe. If OneMedNet fails to meet this requirement by the deadline, it may be granted an additional 180 days to comply, provided it meets all other initial listing standards for The Nasdaq Capital Market, except for the bid price. With a market capitalization of just $14.39 million, the company faces significant challenges ahead.
OneMedNet is considering all available options to address the deficiency, including a potential reverse stock split. The company is actively monitoring its stock’s bid price and intends to take necessary actions to achieve compliance and avoid delisting. However, there is no guarantee that OneMedNet will successfully meet the Nasdaq’s requirements within the given grace period or that it will continue to comply with other Nasdaq listing rules. InvestingPro analysis indicates concerning liquidity metrics, with a current ratio of 0.23, suggesting short-term obligations exceed liquid assets. The company maintains a "FAIR" overall financial health score of 2.2 out of 5.
This development is significant for investors as failure to regain compliance could lead to the delisting of OneMedNet’s common stock, which would affect its marketability and potentially its value. The company’s management is expected to provide updates on its efforts to address this issue and maintain its listing on The Nasdaq Capital Market. The information in this article is based on the statements made in the SEC filing by OneMedNet and enhanced with InvestingPro data, which offers 8 additional key insights about the company’s financial health and market position.
In other recent news, OneMedNet Corporation has faced regulatory challenges as it received a notification from The Nasdaq Stock Market regarding potential delisting due to non-compliance with certain listing requirements. The company has until September 8, 2025, to address deficiencies related to its Market Value of Listed Securities and stockholders’ equity to avoid delisting. Additionally, OneMedNet has expanded its Board of Directors, appointing Dr. Kenneth Alleyne as a Class III Director and member of the Audit Committee, fulfilling Nasdaq’s criteria for an independent director. In another development, Robert Golden has been named the permanent Chief Financial Officer, following his interim role, effective January 31, 2025. Golden’s appointment includes a cash bonus and restricted stock units, with details disclosed in the company’s latest SEC filing. These recent developments reflect OneMedNet’s ongoing efforts to strengthen its governance and financial leadership. The company continues to focus on aligning with Nasdaq’s listing standards and enhancing its strategic direction.
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