Cosmos Health Faces Delisting Notice
Ticker: COSM · Form: 8-K · Filed: Apr 19, 2024 · CIK: 1474167
Sentiment: bearish
Topics: delisting, listing-rule, transfer-of-listing
TL;DR
Cosmos Health got a delisting warning, might move exchanges.
AI Summary
Cosmos Health Inc. filed an 8-K on April 19, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The filing indicates a potential transfer of listing, though specific details regarding the reasons for delisting or the new listing venue are not provided in this excerpt.
Why It Matters
This filing signals potential significant disruption for investors as the company may be removed from its current stock exchange, impacting liquidity and valuation.
Risk Assessment
Risk Level: high — A notice of delisting directly threatens the company's ability to trade on a major exchange, posing a severe risk to its market presence and investor confidence.
Key Players & Entities
- Cosmos Health Inc. (company) — Registrant
- April 17, 2024 (date) — Earliest event reported
- April 19, 2024 (date) — Filing date
- Nevada (jurisdiction) — State of incorporation
FAQ
What specific listing rule or standard has Cosmos Health Inc. failed to satisfy?
The provided excerpt of the 8-K filing does not specify the exact listing rule or standard that Cosmos Health Inc. has failed to satisfy.
What is the reason for the potential transfer of listing for Cosmos Health Inc.?
The filing indicates a "Transfer of Listing" as an item of information, but the specific reasons for this potential transfer are not detailed in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on April 17, 2024.
What is the Commission File Number for Cosmos Health Inc.?
The Commission File Number for Cosmos Health Inc. is 001-41308.
What is the business address of Cosmos Health Inc.?
The business address of Cosmos Health Inc. is 5 Agiou Georgiou, Pilea, Thessaloniki, J3 55438.
Filing Stats: 710 words · 3 min read · ~2 pages · Grade level 11.3 · Accepted 2024-04-19 17:00:21
Filing Documents
- cosm_8k.htm (8-K) — 26KB
- cosm_ex991.htm (EX-99.1) — 8KB
- 0001477932-24-002262.txt ( ) — 159KB
- cosm-20240417.xsd (EX-101.SCH) — 6KB
- cosm-20240417_lab.xml (EX-101.LAB) — 14KB
- cosm-20240417_cal.xml (EX-101.CAL) — 1KB
- cosm-20240417_pre.xml (EX-101.PRE) — 9KB
- cosm-20240417_def.xml (EX-101.DEF) — 2KB
- cosm_8k_htm.xml (XML) — 4KB
01 NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD; TRANSFER OF LISTING
ITEM 3.01 NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD; TRANSFER OF LISTING On April 19, 2024, Cosmos Health Inc. (the "Company") announced that, on April 17, 2024, it received a notification letter from The Nasdaq Stock Market LLC ("Nasdaq") stating that, because the Company has not yet filed its Annual Report on Form 10-K for the period ended December 31, 2023 (the "Form 10-K"), the Company is no longer in compliance with Nasdaq Listing Rule 5250(c)(1). Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission. The Nasdaq letter has no immediate effect on the listing of the Company's shares. As a non-compliant company, an indicator reflecting the Company's non-compliance will be broadcast over Nasdaq's market data dissemination network and will also be made available to third party market data providers. Nasdaq's notification letter states that the Company has 60 calendar days 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 180 days from the prescribed due date for filing the Form 10-K 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. The Company intends to resolve the deficiency and regain compliance with the Nasdaq Listing Rules. A press release announcing the matters described above and titled "Cosmos Health Receives Nasdaq Notice on Late Filing of Its Form 10-K" is attached hereto as Exhibit 99.1 and incorporated herein by reference. Exhibit 99.1 is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be express
01 FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits Number 99.1 Press Release dated April 19, 2024 titled "Cosmos Health Receives Nasdaq Notice on Late Filing of Its Form 10-K". 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. COSMOS HEALTH INC. Date: April 19, 2024 By: /s/ Georgios Terzis Georgios Terzis Chief Financial Officer 3