Srax announces receipt of nasdaq listing determination; company to request hearing and further stay

Westlake village, calif., oct. 20, 2022 (globe newswire) -- srax, inc. (nasdaq: srax), a financial technology company that unlocks data and insights for publicly traded companies, today announced that on october 14, 2022, the company received notice from the nasdaq listing qualifications staff (the “staff”) indicating that the staff had determined to delist the company's securities from nasdaq unless the company timely requests a hearing before the nasdaq hearings panel (the “panel”). the staff's determination was based upon the company's non-compliance with the filing requirement set forth in nasdaq listing rule 5250(c)(1). on october 12, 2022, the company filed its annual report on form 10-k for the fiscal year ended december 31, 2021 with the securities and exchange commission (the “sec”); however, the company has not yet filed the quarterly reports on form 10-q for the quarters ended march 31, 2022 and june 30, 2022 with the sec.
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