Core Viewpoint - IMAC Holdings, Inc. has received a deficiency notification from Nasdaq due to its failure to timely file its Quarterly Report on Form 10-Q for the period ended June 30, 2024, which may affect its compliance with Nasdaq listing rules [1][2]. Group 1: Compliance Notification - The Company received a notification letter from Nasdaq on August 21, 2024, indicating non-compliance with Listing Rule 5250(c)(1) due to the late filing of its Form 10-Q [1]. - The Company filed a Form 12b-25 Notification of Late Filing with the SEC on August 15, 2024, explaining the delay [1]. Group 2: Action Plan and Timeline - The Company has until October 20, 2024, to submit a plan to regain compliance with Nasdaq's listing rules [2]. - If Nasdaq accepts the compliance plan, the Company may receive an extension of up to 180 days, allowing until February 17, 2025, to regain compliance [2][3]. - The Company intends to submit the compliance plan within the 60-day submission period and aims to regain compliance within the extended timeframe if the plan is accepted [3]. Group 3: Listing Status - The deficiency notice does not have an immediate effect on the listing or trading of the Company's common stock on the Nasdaq Capital Market [2]. - If the Company fails to regain compliance within the specified time, it may face delisting, but it has the right to appeal any delisting determination [3]. Group 4: Company Overview - IMAC Holdings, Inc. is headquartered in Franklin, Tennessee, and operates a proteomic business through a certified laboratory in Golden, Colorado [4].
IMAC Holdings receives notification of deficiency from Nasdaq related to delayed filing of quarterly report on Form 10-Q