Real Good Food (RGF) said late Wednesday the Nasdaq Stock Market has notified the company regarding initiating a process that could result in the delisting of its securities.
The notification came after the company failed to comply with the bourse's listing requirement to file all required periodic financial reports timely.
Real Good Food plans to request a hearing before an independent hearing panel, which will automatically halt any suspension or delisting measures until Oct. 4.
According to the Nasdaq listing regulations, the maximum time allowed by the panel to regain compliance runs through April 11, 2025.
"There can be no assurance that the company will ultimately regain compliance with all applicable requirements for continued listing or that the [Hearing] Panel will grant the company a further extension," it said.
Shares of the company were up 9.3% in after-hours activity.
Price: 0.4700, Change: +0.04, Percent Change: +9.30
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