Greenwave Announces Receipt of Additional Delinquency Notice from Nasdaq

Core Viewpoint - Greenwave Technology Solutions, Inc. is facing compliance issues with Nasdaq due to delays in filing its Quarterly Reports, which could lead to potential delisting of its securities [1][2]. Company Summary - Greenwave operates 13 metal recycling facilities across Virginia, North Carolina, and Ohio, focusing on the collection, classification, and processing of raw scrap metal [4]. - The company utilizes unique technologies to enhance metal processing volumes and operational efficiencies, including a downstream recovery system and a cloud-based ERP system [4]. - Greenwave's customer base includes large corporations, industrial manufacturers, retail customers, and government organizations [5]. Industry Context - Steel is one of the most recycled materials globally, offering significant environmental benefits over virgin metals, such as reduced energy consumption, lower CO2 emissions, and conservation of natural resources [5]. - The company plans to expand its operations by acquiring independent, profitable scrap yards in the near future [5].