Summary by Futu AI
On August 22, 2024, Nukkleus received a notification from Nasdaq indicating non-compliance with Listing Rule 5250(c)(1) due to failure to timely file its Q2 2024 10-Q. This is the latest in a series of compliance issues, including failure to meet minimum bid price, market value of publicly held shares, and market value of listed securities requirements.Nukkleus has until October 21, 2024, to submit a compliance plan to Nasdaq. If accepted, the company may receive an extension until February 17, 2025, to file the Form 10-Q and regain compliance. The company is working to file the 10-Q and address other listing issues, but there's no assurance of success or additional extensions.Currently, this notification doesn't affect Nukkleus' listing on Nasdaq Global Market. However, failure to resolve these issues within prescribed timeframes could result in delisting, potentially impacting investor confidence and stock liquidity.