NEW
YORK and SYDNEY,
May 22,
2024 /PRNewswire/ -- Integrated Media Technology
Limited (NASDAQ: IMTE) ("IMTE" or the "Company"), an Australia company that is engaged in the
businesses of the trading in Halal products, the manufacture and
sale of nano coated plates for filters, the trading of luxury
products on its digital assets trading platform, sale of new energy
products and solutions, and the manufacturing and sale of
electronic glass, today announced that it has received notification
letter dated May 17, 2024 (the
"Deficiency Letter") from the Listing Qualifications Department of
The Nasdaq Stock Market Inc. (the "Nasdaq") notifying that the
Company is no longer in compliance with the Nasdaq Listing Rule
5250(c)(1) for continued listing due to its failure to timely file
its annual report on Form 20-F for the year ended December 31, 2023 (the "Annual Report") with the
U.S. Securities and Exchange Commission.
Under the Nasdaq Listing Rule 5810(c)(2)(F)(i), the Company has
until July 16, 2024 (that is, 60
calendar days from the date of the Deficiency Letter) to submit to
Nasdaq a plan (the "Compliance Plan") to regain compliance with the
Nasdaq Listing Rules. The Company intends to submit the Compliance
Plan as soon as practicable.
Under the Nasdaq Listing Rule 5810(c)(2)(F)(ii), if Nasdaq
accepts the Compliance Plan, Nasdaq can grant the Company an
exception until November 11, 2024 (that is, up to 180 calendar days
from the extended due date of the Annual Report) to regain
compliance. The Company's independent registered public accounting
firm will require additional time to conduct an audit of the
Company's financial statements for the year ended December 31,
2023. The Company intends to file the Annual Report as soon as
practicable.
The Deficiency Letter has no immediate impact on the listing of
the Company's ordinary shares on the Nasdaq Capital Market.
This announcement is made in compliance with the Nasdaq Listing
Rule 5810(b), which requires prompt disclosure of receipt of a
notification of deficiency.
About Integrated Media Technology Limited ("IMTE")
IMTE is an Australian company engaged in the businesses of the
manufacturing of electronic glass, trading in Halal products, the
manufacture and sale of nano coated plates for filters, the trading
of luxury products on its digital assets trading platform, sale of
new energy products and solutions, and the manufacturing and sale
of electronic glass. For more information, please
visit www.imtechltd.com.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, including those
regarding IMTE's expectations, intentions, strategies, and beliefs
pertaining to future events or future financial performance. Actual
events or results may differ materially from those in the
forward-looking statements because of various important factors,
including those described in the Company's most recent filings with
the SEC. IMTE assumes no obligation to update publicly any such
forward-looking statements, whether because of new information,
future events or otherwise. For a more complete description of the
risks that could cause our actual results to differ from our
current expectations, please see the sections entitled but not
limited to, "Management's Discussion and Analysis of Financial
Condition and Results of Operations" and "Risk Factors" in IMTE's
annual reports on Form 20-F and interim reports on Form 6-K filed
with the SEC, as such factors may be updated from time to time in
IMTE's periodic filings with the SEC, which are accessible on the
SEC's website at www.sec.gov and at
www.imtechltd.com.
Investor Relations Contact:
Email:
investors@imtechltd.com
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SOURCE Integrated Media Technology Limited