Cemtrex Inc. to be Delisted from Nasdaq, Moves to OTCQB
Ticker: CETXP · Form: 8-K · Filed: Jun 17, 2024 · CIK: 1435064
Sentiment: bearish
Topics: delisting, otcqb, listing-transfer
Related Tickers: CTMX
TL;DR
Nasdaq delisting incoming, Cemtrex moving to OTCQB on Tuesday. $CTMX
AI Summary
Cemtrex Inc. announced on June 14, 2024, that it received a notice from the Nasdaq Stock Market indicating a failure to meet a continued listing rule. The company is working to regain compliance and expects to transfer its listing to the OTC Markets Group, with trading expected to commence on the OTCQB Venture Market under the ticker symbol "CTMX" on June 18, 2024.
Why It Matters
This delisting from Nasdaq signifies a downgrade in the company's market status, potentially impacting investor confidence and liquidity.
Risk Assessment
Risk Level: high — Delisting from a major exchange like Nasdaq to a less regulated over-the-counter market indicates significant financial or operational distress.
Key Players & Entities
- Cemtrex Inc. (company) — Registrant
- Nasdaq Stock Market (company) — Exchange from which delisting is occurring
- OTC Markets Group (company) — New exchange operator
- OTCQB Venture Market (company) — New market for listing
- CTMX (company) — New ticker symbol
- June 14, 2024 (date) — Date of notice
- June 18, 2024 (date) — Expected start date on OTCQB
FAQ
What specific Nasdaq listing rule did Cemtrex Inc. fail to meet?
The filing states that Cemtrex Inc. received a notice from the Nasdaq Stock Market indicating a failure to meet a continued listing rule or standard, but does not specify which rule was violated.
When is Cemtrex Inc. expected to begin trading on the OTCQB Venture Market?
Cemtrex Inc. expects its common stock to commence trading on the OTCQB Venture Market on June 18, 2024.
What will be Cemtrex Inc.'s ticker symbol on the OTCQB Venture Market?
Cemtrex Inc.'s common stock is expected to trade under the ticker symbol "CTMX" on the OTCQB Venture Market.
What is the reason for Cemtrex Inc.'s transfer from Nasdaq?
Cemtrex Inc. received a notice of delisting from the Nasdaq Stock Market for failure to satisfy a continued listing rule or standard.
Which entity is Cemtrex Inc. transferring its listing to?
Cemtrex Inc. expects to transfer its listing to the OTCQB Venture Market, operated by OTC Markets Group.
Filing Stats: 817 words · 3 min read · ~3 pages · Grade level 13.4 · Accepted 2024-06-17 16:07:51
Key Financial Figures
- $1.00 — common stock listed on Nasdaq was below $1.00 for 30 consecutive trading days, the Co
Filing Documents
- form8-k.htm (8-K) — 40KB
- ex99-1.htm (EX-99.1) — 21KB
- form8-k_001.jpg (GRAPHIC) — 3KB
- ex99-1_001.jpg (GRAPHIC) — 2KB
- ex99-1_002.jpg (GRAPHIC) — 2KB
- ex99-1_003.jpg (GRAPHIC) — 2KB
- ex99-1_004.jpg (GRAPHIC) — 2KB
- 0001493152-24-024106.txt ( ) — 254KB
- cetx-20240614.xsd (EX-101.SCH) — 3KB
- cetx-20240614_lab.xml (EX-101.LAB) — 33KB
- cetx-20240614_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 3KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CEMTREX, INC. Date: June 17, 2024 By: /s/ Saagar Govil Saagar Govil Chairman, President and Chief Executive Officer