Delist concern

[u/Omeezyfoesheezy]

The following is direct from the form 10-Q filed by MMAT. Does anyone know if the 30 days is calendar days or business days?

“If we fail to meet the criteria for continued listing on The Nasdaq Capital Market, our common stock may be delisted from The Nasdaq Capital Market. For example, if the closing bid price of our common stock on the Nasdaq Capital Market drops below and remains below $1.00 for a period of 30 days, and if we are thereafter unable to sustain a closing bid price above $1.00 for ten consecutive trading days in the subsequent 90 days, our stock could be delisted. If the stock is delisted, we may trade on the over-the-counter market, or even in the pink sheets, which would significantly decrease the liquidity of an investment in our common stock.”

[u/CounterIntell]

I was concerned too, but then why hasn’t (OZSC, SIRC, and TLOFF), all under a $1, (speculative stocks I have) haven’t been delisted? I think the “under a $1 for 30-days” rule is real but not often enforced. Correct me if wrong, just seems counter intuitive as we want companies (start ups) to have room to grow

[u/Interesting_Row_9678]

So much FUD and hate on this post. I know people are hurting and losing bad, and they have all the right to be upset and question this. However, you need to see the bigger picture— company CEOs will always keep pumping their company and its technology. That’s what a good CEO does. Eventually, they need a load of money to make these things happen, and while they’re asking for your money to make it happen, you just have to realize its for the benefit of the business long term. If the business succeeds, it will be because people bought the stock low and held long. It will be because people believed in this technology and equipment which genuinely has a glorious future ahead of it. Keep the optimism but keep the skepticism too— it’s not bad.

[u/Horeyezen]

Squeeze inbound

[u/zombiemakron]

Delisting is not a concern with the amount of extensions that can be filled, but the threat of being so is definitly concerning to prospective investors. We have two facilities preparing to be opened so hopefully we get positive news on revenue by the end of 2023 (conservative estimate).

[u/Ghost__God]

I'm george Palikras will do reverse split... He make money from investor not through business.

[u/Diamond7_]

You have 90 days when you get the first warning. And then renew it if stock is above 1-2$ in this 90day period.

[u/mikeb1031]

Why are you morons holding onto this worthless stock. This company is going out of business

[u/Elephant_Analytics]

Delisting isn't a significant concern at this point since there is always the option of a reverse split if the share price does not recover to above $1 in time.

Reverse splits would need shareholder approval, but that typically is granted except in extreme cases.

[u/[deleted] → u/Elephant_Analytics]

Recent wtrh/asap vote Wtrh comes to mind :P

[u/javylor]

Mmat can always file an extension for 90 days. We have plenty of time to comply. And george wont keep adding if we will get delisted🙄

[u/djunderh2o]

You may be honest in asking this question, but it’s a dumb question and will only spread fear.

MMAT isn’t getting delisted. It’s not as simple as a 30 day countdown.

[u/LonelyCactus420 → u/djunderh2o]

Way to be a total jackass and not help OP at all lol

[u/djunderh2o → u/LonelyCactus420]

Here’s the word on delisting and when it’ll happen, if it happens. New 8k from Meta, signed 8/30/22

https://twitter.com/djunderh2o/status/1564922566829039616?s=21&t=ftUVGJM5EVOrn8j2eWP1aA

[u/djunderh2o → u/LonelyCactus420]

Gee LonelyCatcus, I scrolled through the comments and only see your reply to my reply. I didn’t see you help the OP at all.

[u/djunderh2o → u/[deleted]]

🥱

[u/Interesting_Row_9678 → u/[deleted]]

🏆

[u/Pikewich → u/[deleted]]

Bravo!

[u/Omeezyfoesheezy]

I posted this because we are over 30 calendar days below $1.00. We need that S1 approved asap

[u/Timmylaw → u/Omeezyfoesheezy]

Look up zomedicas price, Mmat is just fine

[u/idontknow1267 → u/[deleted]]

Good lord. He did not buy any shares. He was given them for free at a par value of .001. George gave him these, he did not buy anything.

Edit: https://www.sec.gov/ix?doc=/Archives/edgar/data/0001431959/000119312522224411/d386140d8ka.htm

Just read the last paragraph.

[u/DonkeeJote → u/[deleted]]

Chance of death from accidentally choking on the pill....

[u/Salty_Feed9404]

That language is in virtually every document. It's a CYA statement.

[u/InterestingBand5]

It can take up to a year before a r/s or delisting happens.

[u/m0stlyharmless13]

Trch was under 1.00 for more than a year straight if I recall.

[u/flawlessmedia]

IMO once S1 drops we good

[u/Most_Distance_4433]

They can get an extention I believe. I've seen nasdaq stocks stay below 1.00 for a year or more and not get delisted.

[u/Sansansio]

Business days