Adamas One Receives Nasdaq Notification of Non-Compliance with Listing Rule 5250(c)(1)
Company Overview
SCOTTSDALE, Ariz., Aug. 27, 2024 (GLOBE NEWSWIRE) — Adamas One Corp. (Nasdaq: JEWL) (“Adamas One,” “Adamas” or the “Company”), The Original Lab-Grown Diamond Company™, is a high-tech company that leverages proprietary technology to produce high-quality, single-crystal, Lab-Grown Diamonds for jewelry and diamond materials for industrial uses.
Non-Compliance Notification
Adamas One recently received a notification from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1). The Company had a hearing scheduled before a Nasdaq Hearings Panel regarding its plan to regain compliance with various Nasdaq Listing Rules. The Panel granted Adamas One’s request for continued listing on The Nasdaq Capital Market, subject to specific conditions.
By July 29, 2024, the Company must cure its filing delinquencies and demonstrate compliance with the Filings Rule. Additionally, by August 30, 2024, Adamas One needs to demonstrate compliance with the Minimum Bid Price Rule by evidencing a closing bid price of $1 or more per share for a minimum of ten consecutive trading sessions.
Impact on Individuals
For individual investors, the non-compliance notification received by Adamas One can have a direct impact on their investments. The uncertainty surrounding the Company’s compliance with Nasdaq Listing Rules may lead to fluctuations in stock prices and potential losses for investors who hold JEWL shares. It is essential for individual investors to closely monitor the situation and make informed decisions regarding their investment in Adamas One.
Global Impact
From a global perspective, Adamas One’s non-compliance notification can affect the diamond industry and the perception of lab-grown diamonds. As a key player in producing high-quality lab-grown diamonds for both jewelry and industrial uses, any issues faced by Adamas One could potentially impact the supply chain and demand for lab-grown diamonds worldwide. It is crucial for the Company to address its compliance issues promptly to maintain its reputation and credibility in the global market.
Conclusion
In conclusion, Adamas One’s receipt of a non-compliance notification from Nasdaq regarding Listing Rule 5250(c)(1) underscores the importance of regulatory compliance and transparency in the financial markets. Individual investors should stay informed about the Company’s efforts to regain compliance with Nasdaq Listing Rules, while the global diamond industry should closely monitor the situation to assess potential impacts on supply chains and demand for lab-grown diamonds. Adamas One must take the necessary steps to address its compliance issues and ensure its continued success in the market.
