HUB Security announces receipt of Nasdaq ‘staff delisting notice

HUB Cyber Security announced receipt of a Staff Delisting Determination from the Listing Qualifications Department of the Nasdaq Stock Marke . In accordance with the minimum bid price required for continued listing under Nasdaq Listing Rule 5450 the Company was provided until January 13 to regain compliance with the Minimum Bid Price Requirement, and as of this date the Company has not regained compliance with the requirement. Accordingly, the Staff Determination serves as a basis for delisting of the Company’s securities from The Nasdaq Stock Market. On December 18 he Company requested an appeal to the Nasdaq Hearings Panel after being notified that its securities would be delisted from the Nasdaq Global Market unless the Company requests such Appeal. Accordingly, a hearing before the Panel has been scheduled for February 6 . As a result of the Company having previously exercised its right to request an Appeal, such Appeal hearing request stays suspension or delisting action pending the Appeal hearing. While there can be no assurance that the Panel will determine to allow the continued listing of the Company’s securities on the Nasdaq Global Market, the Company believes that its currently improved financial position will support the continued listing of its securities, which will remain trading pending the Appeal hearing.