Aetherium Acquisition Corp. (GMFI) Receives Additional Staff Determination Letter from Nasdaq
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Aetherium Acquisition Corp ("Company") (Nasdaq: "GMFI") announced that on
Subsequently, in accordance with Listing Rule 5810(c)(3)(C), the Company was provided 180 calendar days, or until
Should the Company not appeal, a Form 25-NSE will be filed with the Securities and Exchange Commission (the "SEC"), which will remove the Company's securities from listing and registration on The Nasdaq Stock Market.
As stated by the Company in a press release dated
The Company has made arrangements to appeal the Staff's determination to a Hearings Panel, pursuant to the procedures set forth in the Nasdaq Listing Rule 5800 Series. Hearings are typically scheduled to occur approximately 30-45 days after the date of the hearing request. A request for a hearing regarding a delinquent filing will stay the suspension of the Company's securities only for a period of 15 days from the date of the request. The Company has also made arrangements to request a stay of the suspension pending the hearing. A Panel will review the request for an extended stay and notify the Company of its conclusion as soon as is practicable, but in any event, no later than 15 calendar days following the deadline to request the hearing.
The Company has undertaken several key initiatives as part of its strategy to regain and ensure future compliance with Nasdaq regulations. The Company has been transitioning its accounting services from its previous accounting firm to another firm better suited for preparing the Company's financial statements and filings, which are managed by
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