Faraday Future Receives Delisting Warning from Nasdaq, Asked to Submit Compliance Plan within 60 Days

Faraday Future Receives Delisting Warning from Nasdaq, Asked to Submit Compliance Plan within 60 Days

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( Source: Faraday Future)

Faraday Future (FF) stated on Tuesday that it had actually gotten a delisting caution letter from The Nasdaq Stock Exchange outdated November17 According to the letter, FF stopped working to send its 3rd quarter monetary report within the proposed time frame and was consequently noted as a non-compliant noted business.

The Nasdaq letter recommended the EV business that it has 60 calendar days to send a strategy to gain back compliance with Nasdaq Listing Rules, which the Nasdaq personnel can approve the business an exception, as much as 180 calendar days from the due date of the Q3 report, to gain back compliance.

FF stated that 2 days prior to getting the caution letter, the business had actually sent a file to the Securities and Exchange Commission on why it postponed the release of monetary report. According to the file, FF is examining “accusations of unreliable disclosures” by J Capital Research. When it comes to when the examination will end, FF itself can not make sure.

SEE ALSO: Faraday Future Delays Q3 Earnings Filing While Investigating Claims of Inaccurate Disclosures

Earlier, it was reported that FF91 will be mass-produced and released in2022 There are likewise lots of reports about FF’s website choice and factory building in China distributing on the Internet, however there has actually been no main reaction.

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