SITO Mobile Announces Receipt of a NASDAQ Notice of Deficiency in Compliance with Certain Listing Rules
2019年11月27日 - 6:05AM
SITO Mobile Ltd. (NASDAQ: SITO) (“SITO” or the
“Company”), an insights-driven Consumer Behavior and
Location Sciences™ company, has received a notification letter from
the Listing Qualifications Department of The NASDAQ Stock Market
LLC ("NASDAQ") dated November 20, 2019 indicating that the Company
no longer meets the continued listing requirement related to the
timely filing of its Form 10-Q for the period ended September 30,
2019 (the “Filing”).
As a result of a delay in completing its
Quarterly Report on Form 10-Q, the Company no longer complies with
the Listing Rules (the “Rules”) for continued listing. Under NASDAQ
Rules, the Company now has 60 calendar days to submit a plan to
regain compliance and if the NASDAQ accepts SITO’s plan, it can
grant an exception of up to 180 calendar days from the Filing’s due
date, or until May 18, 2020, to regain compliance.
The Company requires additional time to finalize
preparation of its financial information for the three- and
nine-months ended September 30, 2019 due to multiple extenuating
circumstances including postponement of the 2019 Annual Meeting of
Stockholders, the timing of the receipt of comments from the
Securities and Exchange Commission regarding submitted proxy
materials, and certain impacts associated with restructuring
efforts that have been implemented.
In the event the Company does not regain
compliance prior to the expiration of the Compliance Period or does
not qualify for the second compliance period in respect of Rule
5450(a)(1), the Company will receive written notification that its
securities are subject to delisting from the NASDAQ Global Market.
At that time, the Company may appeal the delisting determination to
a Hearing's Panel of NASDAQ.
About SITO Mobile, Ltd.
SITO turns the consumer journey into a powerful
instrument for marketers, delivering actionable insights that
influence behavior in real-time. Through Consumer Behavior and
Location Sciences™, SITO develops customized, data-driven solutions
for brands spanning strategic insights and media. Our science and
products reveal a deeper, real-time understanding of customer
interests, actions and experiences providing increased clarity for
brands when it comes to navigating business decisions and
delivering advertising. The Company is home to an internally
developed, proprietary location-data technology stack, arming
clients with a powerful resource for granular data, real-time
insights and optimization, and delivery of successful media
campaigns. Using in-store targeting, proximity targeting,
geo-conquesting and attribution data, SITO creates audience
profiles to develop measurable hyper-targeted campaigns for brands.
For more information regarding SITO’s science, technology and
customized solutions spanning media and research, visit
www.sitomobile.com.
Cautionary Statement Regarding Certain Forward-Looking
Information
This press release contains forward-looking
statements. These statements are based on our management’s beliefs
and assumptions and on information currently available to our
management. Forward-looking statements include statements
concerning the following: SITO’s plans and initiatives; our
possible or assumed future results of operations; our ability to
attract and retain customers; our ability to sell additional
products and services to customers; our competitive position; our
industry environment; and our potential growth opportunities. You
should not place undue reliance on forward-looking statements,
because they involve known and unknown risks, uncertainties and
other factors, which are, in some cases, beyond our control and
which could materially affect results. Factors that may cause
actual results to differ materially from current expectations
include, among other things, those listed under “Risk Factors” in
our Annual Report on Form 10-K, for the year ended December 31,
2018 and the other periodic reports we file with the SEC. Actual
events or results may vary significantly from those implied or
projected by the forward-looking statements due to these risk
factors. No forward-looking statement is a guarantee of future
performance. You should read our Annual Report on Form 10-K, our
Quarterly Report on Form 10-Q and the documents that we reference
in our Annual Report on Form 10-K, our Quarterly Report on Form
10-Q and have filed as exhibits thereto with the Securities and
Exchange Commission, or the SEC, with the understanding that our
actual future results and circumstances may be materially different
from what we expect. Forward-looking statements are made based on
management’s beliefs, estimates and opinions on the date the
statements are made and we undertake no obligation to update
forward-looking statements if these beliefs, estimates and opinions
or other circumstances should change, except as may be required by
applicable law. Although we believe that the expectations reflected
in the forward-looking statements are reasonable, we cannot
guarantee future results, levels of activity, performance or
achievements.
Contact:
Investor RelationsBrett MaasHayden IRPhone: 646.536.7331Email:
SITO@haydenir.com
Source: SITO Mobile, Ltd.
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