Business
Cool Holdings Announces Delisting From Nasdaq and Applies to Have Common Stock Traded on OTCQB
Cool Holdings Announces Delisting From Nasdaq and Applies to Have Common Stock Traded on OTCQB.
About this update from Simply Inc.
[{"type":"text","content":"\n\n\n\nCool Holdings Announces Delisting From Nasdaq and Applies to Have Common Stock Traded on OTCQB\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCool Holdings Announces Delisting From Nasdaq and Applies to Have Common Stock Traded on OTCQB\nPR Newswire\nMIAMI, Nov. 6, 2019\n\n\n\nMIAMI, Nov. 6, 2019 /PRNewswire/ -- Cool Holdings, Inc. (NASDAQ: AWSM) (the \"Company\" or \"Cool Holdings\") announced that it withdrew its oral hearing request (the \"Request\") it previously submitted to the Nasdaq Hearings Panel (the \"Panel\") on October 7, 2019. The Request was submitted to the Panel after the Company received a letter from the Nasdaq Listing Qualifications Staff on October 1, 2019 (the \"Letter\") stating that it was still not compliant with the minimum stockholders' equity requirement of Nasdaq Listing Rule 5550(b) and would be suspended from the Nasdaq Capital Market (\"Nasdaq\") at the opening of business on October 10, 2019.  Additionally, the Letter stated a Form 25-NSE would be filed by Nasdaq with the Securities and Exchange Commission (the \"SEC\") to remove the Company's shares of common stock from listing and registration on Nasdaq (the \"Delisting\").  The submission of the Request stayed the Delisting from proceeding, subject to a hearing in front of the Nasdaq Hearings Panel which was to occur on November 21, 2019 (the \"Hearing\").\nThe Company originally intended to appeal the Delisting at the Hearing. However, the board of directors, in consultation with senior officers of the Company (collectively, the \"Management\") subsequently reviewed a number of considerations and factors.  After assessing the Company's business, finances, the price of its common stock and regulatory requirements of Nasdaq, Management determined that the potential negative impact, financial and otherwise, to the Company and its stockholders from corporate and other actions required to regain compliance with Nasdaq rules to end the Delisting were not warranted. \nAs a result of withdrawing the Request, the Company received notification from Nasdaq ...