Summary by Futu AI
Global Gas Corporation, a company listed on the Nasdaq Stock Market, is set to be delisted following a decision by the Nasdaq Hearings Panel. The company, which trades under the symbol HGAS, had previously been warned on December 22, 2023, that it was not in compliance with Nasdaq's initial listing standards after a business combination. Despite being given until June 20, 2024, to meet the requirements concerning Stockholders Equity, Publicly Held Shares, and Market Value of Listed Securities, Global Gas was unable to demonstrate compliance. Consequently, on June 21, 2024, the company was notified of the Panel's decision to delist its securities, with suspension of trading to commence at the opening of business on June 25, 2024. Following the delisting, Global Gas's securities are expected to trade on the OTC marketplace. The company has also indicated the possibility of seeking listing on another securities exchange, although this is forward-looking and subject to risks and uncertainties.