UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
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ITEM 3.01 NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD.
On August 29, 2023, Adamas One Corp. (the “Company” or the “Registrant”) received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, since the Company has not yet filed its Quarterly Report on Form 10-Q for the period ended June 30, 2023, it no longer complies with Nasdaq Listing Rule 5250(c)(1) for continued listing.
As a result of this delinquency of not timely filing the Form 10-Q, the Company now has 60 calendar days, until October 30, 2023 (the first business day after the 60th calendar day), to submit a plan to regain compliance and if Nasdaq accepts such plan, Nasdaq may grant an exception of up to 180 calendar days from the original due date of the 10-Q, or until February 20, 2024 (the first business day after the 180th calendar day), to regain compliance. The Company intends to submit the plan within the 60-day calendar period. However, there is no assurance that Nasdaq will accept the Company’s plan to regain compliance or, if accepted, that the Company will be able to regain compliance with Nasdaq’s rules by February 20, 2024. If Nasdaq does not accept the Company’s plan, then the Company will have the opportunity to appeal that decision to a Nasdaq hearings panel.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ADAMAS ONE CORP. | ||
Dated: September 5, 2023 | By: | /s/ John G. Grdina |
Name: Title: |
John G. Grdina President and Chief Executive Officer |