Heidmar Maritime receives noncompliance notification from Nasdaq

Heidmar Maritime (HMR) announced that it has received written notification from Nasdaq dated April 22, indicating that because the closing bid price of the company’s common stock for the last 30 consecutive business days was below the minimum $1.00 per share bid price requirement for continued listing on Nasdaq, the company is not in compliance with Nasdaq Listing Rule 5550. Pursuant to Nasdaq Listing Rule 5810, the applicable grace period to regain compliance is 180 days, or until October 19. The company intends to monitor the closing bid price of its common stock during this grace period and will consider its options in order to regain compliance with Nasdaq minimum bid price requirement. The company can cure this deficiency if the closing bid price of its common stock is $1.00 per share or higher for at least ten consecutive business days during the grace period. The company intends to cure the deficiency within the prescribed grace period. During this time, the company’s common stock will continue to be listed and trade on Nasdaq. The company’s business operations are not affected by the receipt of the notification.