Summary by Futu AI
Collective Audience received a delisting determination from Nasdaq on June 24, 2024, after failing to meet multiple continued listing requirements by the June 19 compliance deadline. The company failed to maintain the required $50 million market value of listed securities, $15 million market value of publicly held shares, and did not file its 2023 annual report and Q1 2024 quarterly report.The company plans to appeal the delisting determination to a Nasdaq hearings panel by July 1, 2024, and will request a stay of the suspension. Without a successful appeal, trading of the company's shares will be suspended on July 3, 2024. Collective Audience intends to file its delinquent reports by early July 2024.The potential delisting could significantly impact the company's stock trading, making it more difficult to buy or sell shares and potentially affecting its ability to raise capital. Hearings are typically scheduled 30-45 days after the request, with an initial 15-day automatic suspension stay period available during the appeal process.
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