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Today, Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (NASDAQ:GWAV), an operator of metal recycling facilities in Virginia, North Carolina, and Ohio, reported that the Company received an additional delinquency notice (the "Notice") from the Listing Qualifications Department of the Nasdaq Stock Market LLC ("Nasdaq") on August 22, 2025, which indicated that, as a result of the delay in the Company's filing of its Quarterly Report on Form 10-Q for the period ended June 30, 2025 (the "Q2 Form 10-Q") by the applicable due date, the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) (the "Rule"), which requires Nasdaq-listed companies to timely file all required periodic financial reports with the U.S. Securities and Exchange Commission (the "SEC"). The additional delinquency could serve as an additional basis for the delisting of the Company's securities from Nasdaq.
As previously disclosed on May 30, 2025, the Company previously received a delinquency notification letter from Nasdaq and thereafter submitted its plan to Nasdaq to regain compliance with the Rule by filing its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 (the "Q1 Form 10-Q" and together with the Q2 Form 10-Q, the "Delayed Reports") with the SEC by August 22, 2025, which plan Nasdaq ultimately approved. Nasdaq has now requested an update to the plan, particularly with respect to the Company's plan to file the Q2 Form 10-Q with the SEC. The Company plans to timely update Nasdaq with respect to the plan by September 8, 2025.
Neither the Notice nor the Company's non-compliance with the Rule will have an immediate effect on the listing or trading of the Company's securities on Nasdaq, which will continue to trade on The Nasdaq Capital Market under the symbol "GWAV." The Company continues to work diligently to complete and file the Delayed Reports with the SEC and thereby evidence compliance with such requirements as soon as practicable.
Posted In: GWAV
