お知らせ • Aug 23
BIMI Holdings Inc.(OTCPK:BIMI) dropped from NASDAQ Composite Index BIMI Holdings Inc. has been dropped from Nasdaq Composite Index. New Risk • Jul 31
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$5.46m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (25% average weekly change). Earnings have declined by 51% per year over the past 5 years. Shareholders have been substantially diluted in the past year (218% increase in shares outstanding). Market cap is less than US$10m (US$5.46m market cap). Minor Risk Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). お知らせ • Jul 30
BIMI Holdings Receives Staff Determination Letter from Nasdaq On July 23, 2024, BIMI Holdings Inc. received a staff determination letter (the ‘Notice’) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (‘Nasdaq’) stating that the Company’s common stock will be delisted from Nasdaq. As previously reported, the Company received two delinquency compliance alert notices on April 19, 2024 and May 17, 2024, respectively, for failing to file its Form 10-K for the fiscal year ended December 31, 2024, and Form 10-Q for the period ended March 31, 2024, as required under Nasdaq Listing Rule 5250(c)(1). In response, the Company submitted plans of compliance to Nasdaq on June 16, 2024 and July 5, 2024. However, based on staff's review of those materials, Nasdaq has determined to deny the Company's request for continued listing on Nasdaq. The Nasdaq staff highlighted the Company’s ongoing internal control deficiencies, specifically noting that internal controls over financial reporting were not effective in the last three annual reports. The Company has been searching for a qualified CFO since June 2023 to address these issues but has not yet succeeded in making significant progress. The Notice further mentioned that the Company has been delinquent in filing 5 of its last 6 periodic reports, further indicating non-compliance with Nasdaq’s continued listing requirements. As a result, Nasdaq has determined that the Company has not provided a definitive plan to regain and sustain compliance with the listing rules. In response, the Company intends to request a hearing before a Nasdaq Hearings Panel to appeal the delisting determination. The Company has until July 30, 2024, to request this hearing, which will stay the suspension of the Company’s securities for 15 days from the date of the request. The Company may further request an extended stay of the suspension, which will be reviewed by the Hearings Panel within 15 days following the deadline to request the hearing. If the Company does not request for an appeal, trading of its common stock will be suspended at the opening of business on August 1, 2024, and a Form 25-NSE will be filed with the Securities and Exchange Commission to remove the Company’s securities from listing and registration on Nasdaq. The Company is committed to addressing these issues and restoring compliance with Nasdaq’s listing requirements. New Risk • Jul 07
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 51% per year over the past 5 years. Shareholders have been substantially diluted in the past year (218% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Market cap is less than US$100m (US$17.9m market cap). お知らせ • Jun 06
Bimi Holdings Inc. Announces Directorate Changes BIMI Holdings Inc. announced that Mr. Barry I. Regenstein resigned as director as well as Chairman of the Compensation Committee and a member of the Audit Committee, effective immediately. On the same date, Mr. Symington W. Smith also resigned as a director of the Company, effective immediately. The decisions of Mr. Regenstein and Mr. Smith did not result from any disagreement with the Company relating to its operations, policies, or practices. The board of directors of the Company is in the process of finding directors to fill the vacancy resulting from the resignations of Mr. Regenstein and Mr. Smith. お知らせ • May 21
BIMI Holdings Announces Receipt of Delinquency Compliance Alert Notice from Nasdaq Due to its Failure to Timely File its Form 10-Q for the Period Ended March 31, 2024 On May 17, 2024, BIMI Holdings Inc. (the ‘Company’) received a delinquency compliance alert notice (the ‘Notice’) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (‘Nasdaq’) advising the Company that due to its failure to timely file its Form 10-Q for the period ended March 31, 2024, with the Securities and Exchange Commission (the ‘SEC’), and because the Company remains delinquent in filing its Form 10-K for the fiscal year ended December 31, 2023, it is not in compliance with Nasdaq’s continued listing requirements under Nasdaq Listing Rule 5250(c)(1) (the ‘Rule’), which requires the timely filing of all required periodic reports with the SEC. In accordance with Nasdaq’s letter dated April 19, 2024, Nasdaq provided the Company 60 days, or until June 18, 2024, to submit a plan to regain compliance with the Rule with respect to delinquent reports (the ‘Plan’). The Company intends to submit its plan of compliance to Nasdaq by June 18, 2024. If Nasdaq accepts the Plan, the Company may be granted an extension of up to 180 calendar days from the due date of the Form 10-K, or until October 14, 2024, to regain compliance with the Rule. In the event the Plan is not accepted by Nasdaq, the Company may appeal that decision to a Hearings Panel.