Announcement • 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). Announcement • 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). Announcement • 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. Announcement • 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. Announcement • Apr 24
BIMI Announces Receipt of a Delinquency Compliance Alert Notice from Nasdaq BIMI Holdings Inc. announced that on April 19, 2024, it received a delinquency compliance alert notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") advising the Company that due to the Company's failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, with the Securities and Exchange Commission (the "SEC"), the Company 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. Nasdaq provided the Company 60 days to submit a plan to regain compliance with the Rule (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 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. Announcement • Apr 03
BIMI Holdings Inc. announced delayed annual 10-K filing On 04/02/2024, BIMI Holdings Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Board Change • Feb 15
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Symington Smith was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 05
BIMI International Medical, Inc. Announces Management Appointments BIMI International Medical, Inc. announced appointment of Barry I. Regenstein as member of Audit Committee; Mia Kuang Ching as member of Nominating Committee; Timothy H. Safransky as Chair of Compensation Committee, Mia Kuang Ching as member of Compensation Committee. Announcement • Dec 19
BIMI International Medical, Inc., Annual General Meeting, Dec 29, 2023 BIMI International Medical, Inc., Annual General Meeting, Dec 29, 2023, at 09:00 US Eastern Standard Time. Location: 725 5thAvenue, 15th Floor, NewYork NY New York United States Agenda: To elect seven directors to serve on the board of directors of the Company (the Board), until the next annual meeting of stockholders and until their respective successors have been duly elected and qualified, assuming Proposal2 is approved; to elect three ClassI nominees to serve on the Board until the 2026 annual meeting, assuming Proposal2 is not approved; to approve the adoption of an amendment to the Company's Amended and Restated Bylaws to change the Company's staggered board to a standard board composition; to approve the adoption of an amendment to the Company's Amended and Restated Certificate of Incorporation to change the Company's name; and to consider other matters if any. Announcement • Nov 29
BIMI Receives Nasdaq Notification of Non-Compliance with Listing Rule 5250(c)(1 BIMI International Medical Inc. (the "Company") announced that on November 21, 2023, the Company received a notification letter from The Nasdaq Stock Market LLC ("Nasdaq") stating that, because the Company has not yet filed its Quarterly Report on Form 10-Q for the period ended September 30, 2023 (the "Third Quarter Form 10-Q"), the Company is no longer in compliance with Nasdaq Listing Rule 5250(c)(1). Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission. The Nasdaq letter has no immediate effect on the listing of the Company's shares. The Nasdaq letter also stated that previously Nasdaq had granted the Company an exception until December 8, 2023, to file its delinquent Form 10-Q for the period ended June 30, 2023 (the "Initial Delinquent Filing"). As a result, any additional Nasdaq exception to allow the Company to regain compliance with all delinquent filings, will be limited to a maximum of 180 calendar days from the due date of the Initial Delinquent Filing, or February 20, 2024. As a result of this additional delinquency, the Company must submit an update to its original plan to regain compliance with respect to the filing requirement. The update should be as definitive as possible, including plans to file the Form 10-Q for the period ended September 30, 2023, and indicate the progress the Company has made towards implementing the plan submitted in connection with the Initial Delinquent Filing. The Initial Delinquent Filing was resolved when the Company filed its Form 10-Q for the period ended June 30, 2023 on November 22, 2023. The Company intends to resolve the deficiency with respect to the Third Quarter Form 10-Q and regain compliance with the Nasdaq Listing Rules. Announcement • Nov 17
BIMI International Medical, Inc. announced delayed 10-Q filing On 11/15/2023, BIMI International Medical, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Barry I. Regenstein was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 25
BIMI International Medical Receives Nasdaq Notification of Non-Compliance with Listing Rule 5250(c)(1) BIMI International Medical Inc. announced that on August 22, 2023, the Company received a notification letter from The Nasdaq Stock Market LLC stating that, because the Company has not yet filed its Quarterly Report on Form 10-Q for the period ended June 30, 2023, the Company is no longer in compliance with Nasdaq Listing Rule 5250(c)(1). Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission. The Nasdaq letter has no immediate effect on the listing of the Company’s shares. Nasdaq’s notification letter states that the Company has 60 calendar days to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rules. If Nasdaq accepts the Company’s plan, then Nasdaq may grant the Company up to 180 days from the prescribed due date for filing the Form 10-Q to regain compliance. If Nasdaq does not accept the Company’s plan, then the Company will have the opportunity to appeal that decision to a Nasdaq hearings panel. The Company intends to resolve the deficiency and regain compliance with the Nasdaq Listing Rules. Announcement • Aug 18
BIMI International Medical, Inc. announced delayed 10-Q filing On 08/16/2023, BIMI International Medical, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Board Change • Aug 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Barry I. Regenstein was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • May 17
BIMI International Medical, Inc. announced delayed 10-Q filing On 05/16/2023, BIMI International Medical, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Reported Earnings • May 06
Full year 2022 earnings released: US$8.15 loss per share (vs US$65.24 loss in FY 2021) Full year 2022 results: US$8.15 loss per share (improved from US$65.24 loss in FY 2021). Revenue: US$11.8m (down 56% from FY 2021). Net loss: US$21.7m (loss narrowed 38% from FY 2021). Board Change • Feb 15
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Barry Regenstein was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 06
Yu Xiang entered into an agreement to 87% stake in Chaohu Zhongshan Minimally Invasive Hospital from BIMI International Medical, Inc. (NasdaqCM:BIMI). Yu Xiang entered into an agreement to 87% stake in Chaohu Zhongshan Minimally Invasive Hospital from BIMI International Medical, Inc. (NasdaqCM:BIMI) on December 28, 2022. Pursuant to the Zhongshan Agreement, BIMI International will transfer 87% of the equity interests in Zhongshan to Yu Xiang and will continue to own 13% of the equity interests in Chaohu Zhongshan Minimally. As consideration for the Zhongshan Transfer, Yu Xiang will return to BIMI International the 2,000,000 shares of the BIMI International’s common stock, which were previously issued to Yu Xiang when Zhongshan was purchased by BIMI International. The closing of the Zhongshan Agreement is expected to take place in the first quarter of 2023, subject to necessary regulatory approvals and other closing conditions. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Barry Regenstein was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Mar 11
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Ju Li was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 18
Third quarter 2021 earnings released The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: US$13.8m (up 346% from 3Q 2020). Net loss: US$1.70m (loss narrowed 11% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 48% per year whereas the company’s share price has fallen by 51% per year. Reported Earnings • Aug 18
Second quarter 2021 earnings released: US$0.01 loss per share (vs US$0.46 profit in 2Q 2020) The company reported a decent second quarter result with improved revenues, although earnings and control over costs were weaker. Second quarter 2021 results: Revenue: US$9.26m (up 144% from 2Q 2020). Net loss: US$276.0k (down 106% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has fallen by 44% per year, which means it is performing significantly worse than earnings. Board Change • Aug 18
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Ju Li was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 19
BOQI International Medical, Inc. announced delayed 10-Q filing On 05/18/2021, BOQI International Medical, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • May 13
BIMAI PHARMACEUTICAL (CHONGQING) CO., LTD completed the acquisition of Yunnan Yuxi Minkang Hospital, Wuzhou Qiangsheng Hospital, and Suzhou Eurasia Hospital from Jiangjin Shen and Zhiwei Shen. BIMAI PHARMACEUTICAL (CHONGQING) CO., LTD signed a Memorandum of Understanding to acquire Yunnan Yuxi Minkang Hospital, Wuzhou Qiangsheng Hospital, and Suzhou Eurasia Hospital from Jiangjin Shen and Zhiwei Shen on March 24, 2021. BIMAI PHARMACEUTICAL (CHONGQING) CO., LTD entered into an agreement to acquire Yunnan Yuxi Minkang Hospital, Wuzhou Qiangsheng Hospital, and Suzhou Eurasia Hospital from Jiangjin Shen and Zhiwei Shen for approximately CNY 160 million on April 9, 2021. Under the terms, 4 million shares will be issued and CNY 20 million cash will be issued. In addition to this an earnout amount of CNY 64 million will be paid based on the performance of the three hospitals in 2021 and 2022. If the aggregate net profit of the three hospitals in 2021 equals or exceeds the net profit target, which is CNY10 million prorated based on the closing date of the transaction, 50% of the Earnout Amount will be payable to the sellers. If the net profit target is not met, a reduced Earnout Amount will be payable based on the ratio of the actual aggregate net profit to the net profit target. The sellers will receive 50% (or a smaller portion) of the Earnout Amount subject to the hospitals reaching similar performance targets in 2022. The transaction is subject to regulatory approvals. The transaction is expected to be completed in late April 2021.
BIMAI PHARMACEUTICAL (CHONGQING) CO., LTD completed the acquisition of Yunnan Yuxi Minkang Hospital, Wuzhou Qiangsheng Hospital, and Suzhou Eurasia Hospital from Jiangjin Shen and Zhiwei Shen on May 12, 2021. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment improved over the past week After last week's 20% share price gain to US$1.72, the stock is trading at a trailing P/E ratio of 66x, up from the previous P/E ratio of 54.9x. This compares to an average P/E of 16x in the Consumer Retailing industry in the US. Total returns to shareholders over the past three years are 87%. Is New 90 Day High Low • Mar 05
New 90-day low: US$1.43 The company is down 24% from its price of US$1.89 on 04 December 2020. The American market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Retailing industry, which is down 10.0% over the same period. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 24% share price decline to US$1.86, the stock is trading at a trailing P/E ratio of 71.4x, down from the previous P/E ratio of 94x. This compares to an average P/E of 15x in the Consumer Retailing industry in the US. Total returns to shareholders over the past three years are 96%. Announcement • Feb 09
BOQI International Medical Inc. (NasdaqCM:BIMI) completed the acquisition of Chongqing Guoyitang Hospital Co., Ltd. BOQI International Medical Inc. (NasdaqCM:BIMI) signed a memorandum of understanding to acquire Chongqing Guoyitang Hospital Co., Ltd on October 22, 2020. BOQI International Medical Inc. entered into a stock purchase agreement to acquire Chongqing Guoyitang Hospital Co., Ltd from Jia Song and Nanfang Xiao for approximately CNY 87.1 million on December 7, 2020. Pursuant to the memorandum of understanding, BOQI International Medical Inc. and Chongqing Guoyitang Hospital Co., Ltd. agreed to move forward on four stages of work. First, Chongqing Guoyitang Hospital to complete all relevant assessment and audit information of the hospital. Second, BOQI International Medical Inc designates an independent third-party to complete the on-site audit and evaluation. Third, BOQI International Medical Inc and Chongqing Guoyitang Hospital to sign a stock purchase agreement based on the audit and evaluation result. Fourth, Chongqing Guoyitang Hospital to complete the industrial and commercial procedures for the equity change. As per terms of agreement, BIMI will purchase all the issued and outstanding equity interests in Guoyitang of which 98% from Jia Song and 2% stake from Nanfang Xiao. Upon signing the agreement, BOQI International Medical Inc. shall pay 2 million shares and approximately CNY 20 million ($3 million) will be paid as partial consideration for the purchase of Guoyitang. The balance of the purchase price in the amount of approximately CNY 40 million (approximately $6.1 million) is subject to post-closing adjustments based on the performance of Guoyitang in 2021 if revenue equals or exceeds CNY 40 million (approximately $6.1 million), and gross profit in 2021 equals or exceeds CNY 5 million (approximately $762,195), 50% of the earnout amount will be payable to sellers and another 50% of earnout amount will be payable on similar achievements in 2022. The transaction is subject to necessary regulatory approvals. The transaction is expected to complete on or about December 21, 2020. Carter Ledyard & Milburn, LLP acting as a legal advisor to BOQI International Medical Inc.
BOQI International Medical Inc. (NasdaqCM:BIMI) completed the acquisition of Chongqing Guoyitang Hospital Co., Ltd on February 8, 2021. Is New 90 Day High Low • Feb 05
New 90-day high: US$2.10 The company is up 13% from its price of US$1.86 on 06 November 2020. The American market is up 14% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Consumer Retailing industry, which is up 1.0% over the same period. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improved over the past week After last week's 18% share price gain to US$2.02, the stock is trading at a trailing P/E ratio of 77.5x, up from the previous P/E ratio of 65.6x. This compares to an average P/E of 14x in the Consumer Retailing industry in the US. Total returns to shareholders over the past three years are 79%. Is New 90 Day High Low • Dec 30
New 90-day low: US$1.67 The company is down 1.0% from its price of US$1.68 on 30 September 2020. The American market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Retailing industry, which is up 6.0% over the same period. Announcement • Dec 17
BOQI International Medical Inc. (NasdaqCM:BIMI) entered into an agreement to acquire Chongqing Cogmer Biology Technology Co., Ltd from Jincong Wu, Meiqin Zhang and Jinguo Zhu for approximately CNH 120 million. BOQI International Medical Inc. (NasdaqCM:BIMI) entered into stock purchase agreement to acquire Chongqing Cogmer Biology Technology Co., Ltd from Jincong Wu, Meiqin Zhang and Jinguo Zhu for approximately CNY 120 million on December 15, 2020. BOQI International Medical Inc. will acquire 45% stake from Jincong Wu, 35% stake from Meiqin Zhang and 20% stake from Jinguo Zhu. Under the terms, BOQI International Medical Inc. will pay CNY 20 million on closing, will issue 2 million shares of the BOQI International Medical Inc. of worth CNY 40 million will be delivered within 90 days of the closing of the transaction and remaining CNY 56 million will be paid on performance of the Chongqing Cogmer Biology Technology Co., Ltd in 2021 and 2022. The transaction is subject to approval by regulatory board/committee. The closing of the transaction is expected to take place in late December 2020. Announcement • Dec 01
BOQI International Medical Inc. (NasdaqCM:BIMI) signed a Memorandum of Understanding to acquire Chaohu Zhongshan Minimally Invasive Hospital. BOQI International Medical Inc. (NasdaqCM:BIMI) signed a Memorandum of Understanding to acquire Chaohu Zhongshan Minimally Invasive Hospital on November 27, 2020. And they agreed to sign a Stock Purchase Agreement after completing the relevant assessment and evaluation of Chaohu Hospital. Chaohu Hospital agreed to cooperate with BIMI’s auditor to complete the audit work within 73 days after signing the Agreement. Both BIMI and Chaohu Hospital agreed to share their customer resources as well as co-develop franchisees and members locally after signing this MOU. BIMI agreed to complete the relevant business procedures for the transaction within one month after signing the Agreement. Valuation Update With 7 Day Price Move • Nov 28
Market bids up stock over the past week After last week's 20% share price gain to US$2.07, the stock is trading at a trailing P/E ratio of 79.4x, up from the previous P/E ratio of 66.4x. This compares to an average P/E of 16x in the Consumer Retailing industry in the US. Total returns to shareholders over the past three years are 103%. Reported Earnings • Nov 18
Third quarter 2020 earnings released: US$0.18 loss per share The company reported a solid third quarter result with improved revenues and control over expenses, though losses increased. Third quarter 2020 results: Revenue: US$3.09m (up US$2.88m from 3Q 2019). Net loss: US$1.91m (loss widened 251% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Aug 25
BOQI International Medical Receives Notification Letter from the Nasdaq BOQI International Medical Inc. reported that on August 21, 2020, it received a notification letter from The Nasdaq Stock Market LLC (“Nasdaq”) stating that, because the Company has not yet filed its Quarterly Report on Form 10-Q for the period ended June 30, 2020 (the “Form 10-Q”), the Company is no longer in compliance with Nasdaq Listing Rule 5250(c)(1). Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission. In accordance with the Nasdaq Listing Rules, The Company was provided 60 calendar days to submit its plan to regain compliance with the Nasdaq Listing Rules. If Nasdaq accepts the Company’s plan, then Nasdaq may grant the Company up to 180 days from the prescribed due date for filing the Form 10-Q to regain compliance. If Nasdaq does not accept the Company’s plan, then the Company will have the opportunity to appeal that decision to a Nasdaq hearings panel. The Company is diligently working to file the Form 10-Q within the period provided to submit its plan of compliance. Announcement • Aug 18
BOQI International Medical Inc. announced delayed 10-Q filing On 08/17/2020, BOQI International Medical Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.