Longfin Announces Receipt of Nasdaq Non-Compliance Letter

Longfin (NASDAQ:LFIN) has announced that on April 6 that it received a NASDAQ delinquency compliance plan alert letter stating the company was not in compliance with the NASDAQ listing rule 5250(c)(1) because it hasn’t filed its Form 10-Q for the period ended September 30, 2017.

As quoted in the press release:

The Nasdaq Staff has determined to shorten the deadline for the Company to submit its plan pursuant to Nasdaq’s discretionary authority set forth in Listing Rule 5101.2 and Longfin must submit a plan of compliance not later than April 13, 2018. If Nasdaq accepts the Company’s plan, Nasdaq can grant an exception of up to 180 calendar days from the Filing’s due date, or until July 9, 2018, to regain compliance.

The Company is preparing its Form 10-Q to regain compliance with the continued listing requirement.

Click here to read the full press release.