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OneMedNet Corporation (NASDAQ:ONMD), a company specializing in commercial physical and biological research currently trading at $0.69 with a market capitalization of $19.32 million, has been notified by The Nasdaq Stock Market LLC of a potential delisting due to non-compliance with certain listing requirements. According to InvestingPro analysis, the stock appears overvalued at current levels, having declined nearly 49% year-to-date. The notice, received on Monday, March 12, 2025, indicated that OneMedNet’s Market Value of Listed Securities (MVLS) had not met the minimum $35 million threshold for 31 consecutive business days.
The Nasdaq notification also highlighted that OneMedNet is not meeting the stockholders’ equity requirement of $2.5 million, as well as the net income from continuing operations minimum of $500,000. This notice does not immediately affect the listing or trading of OneMedNet’s securities, but serves as a warning of compliance issues.
OneMedNet has been given a deadline of September 8, 2025, to rectify these deficiencies and bring its MVLS above $35 million for at least ten consecutive business days. Failure to achieve compliance within this 180-day period could lead to delisting from The Nasdaq Capital Market. The company may appeal any delisting decision to a hearings panel.
The Eden Prairie, Minnesota-based company has stated its intention to closely monitor its MVLS and consider all available options to address the non-compliance. As OneMedNet works towards maintaining its Nasdaq listing, the company’s future compliance with the Nasdaq’s listing standards remains uncertain. InvestingPro subscribers can access 8 additional key insights and detailed financial metrics to better understand the company’s challenges and prospects.
This development follows OneMedNet’s transition from its former identity as Data Knights Acquisition Corp., which took place on March 4, 2021. The company’s shares and redeemable warrants are currently listed on The Nasdaq Stock Market under the ticker symbols ONMD and ONMDW, respectively.
This report is based on a press release statement and reflects the latest regulatory challenges faced by OneMedNet as it strives to align with Nasdaq’s listing standards.
In other recent news, OneMedNet Corporation has achieved compliance with Nasdaq’s Listing Rule 5250(c)(1) after submitting its financial reports for the first three quarters of 2024. This compliance marks a significant milestone for the company as it continues to focus on business expansion. Additionally, OneMedNet announced the appointment of Robert Golden as the permanent Chief Financial Officer, following his interim role, with a compensation package that includes a cash bonus and restricted stock units. In another strategic move, the company expanded its Board of Directors and appointed Dr. Kenneth Alleyne as a Class III Director. Dr. Alleyne will also serve on the company’s Audit Committee, meeting Nasdaq’s criteria for an independent director. These governance enhancements aim to strengthen OneMedNet’s oversight capabilities. Furthermore, the company has secured $6.4 million through private placements and adopted a Bitcoin treasury strategy to improve its financial position. OneMedNet’s recent agreement with Bayer (OTC:BAYRY)’s AI Innovation Platform highlights its efforts to expand its commercial footprint in the Real World Data sector.
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