Business
EUDA Health Holdings Limited Announces Receipt of Nasdaq Listing Delinquency Letter
SINGAPORE, May 19, 2023 /PRNewswire/ -- EUDA Health Holdings Limited (the "Company" or "EUDA") (NASDAQ: EUDA, EUDAW), a Singapore-based health technology
About this update from Euda Health Holdings Limited
[{"type":"text","content":"SINGAPORE, May 19, 2023 /PRNewswire/ -- EUDA Health Holdings Limited (the \"Company\" or \"EUDA\") (NASDAQ: EUDA, EUDAW), a Singapore-based health technology company that operates a first-of-its-kind Southeast Asian digital healthcare ecosystem, announced today that it received a delinquency notification letter (\"Notice\") from the Listing Qualifications Staff (the \"Staff\") of the Nasdaq Stock Market LLC (\"Nasdaq\") on May 18, 2023 due to the Company's non-compliance with Nasdaq Listing Rule 5250(c)(1) as a result of the Company's failure to timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2023 (the \"Form 10-Q\"). Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the \"SEC\").\nAs reported on April 10, 2023, the Company has received a similar notice from Nasdaq on April 5, 2023 as a result of the Company's failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2022. The Notice states that the Company has up to June 5, 2023 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 September 27, 2023 for filing the Form 10-K and 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. If our appeal fails, the Company's securities may be delisted.\nManagement of the Company has been working diligently to complete all of the required information for the Form 10-K and Form 10-Q, and a substantial part of such information has been completed as of this date. However, the Company requires additional time to prepare, review and finalize its financial statements.\nThe Notice has no immediate impact on the listing of the Company's common stock, which will continue to trade on Nasdaq under the symbol \"EUDA\".\nThis announcement is made in compliance with Nasdaq Listing Rule 5250(b)(2).\nAbout EUDA Health Holdings Limited\nEUDA Health Holdings Limited is a Singapore-based health technology company that operates a first-of-its-kind Southeast Asian digital healthcare ecosystem aimed at making healthcare affordable and accessible, and improving t...