Integrated Media Technology reports receipt of deficiency letter from Nasdaq

Integrated Media Technology announced that it has received notification letter dated May 17 from the Listing Qualifications Department of The Nasdaq Stock Market notifying that the company is no longer in compliance with the Nasdaq Listing Rule 5250(c)(1) for continued listing due to its failure to timely file its annual report on Form 20-F for the year ended December 31, 2023 with the U.S. Securities and Exchange Commission. Under the Nasdaq Listing Rule 5810(c)(2)(F)(i), the company has until July 16 to submit to Nasdaq a plan to regain compliance with the Nasdaq Listing Rules. The company intends to submit the Compliance Plan as soon as practicable. Under the Nasdaq Listing Rule 5810(c)(2)(F)(ii), if Nasdaq accepts the Compliance Plan, Nasdaq can grant the company an exception until November 11, 2024 (that is, up to 180 calendar days from the extended due date of the Annual Report) to regain compliance. The company’s independent registered public accounting firm will require additional time to conduct an audit of the company’s financial statements for the year ended December 31, 2023. The company intends to file the Annual Report as soon as practicable. The Deficiency Letter has no immediate impact on the listing of the company’s ordinary shares on the Nasdaq Capital Market.