Ability receives delisting determination from Nasdaq staff
Ability Inc. announced that it received a letter from the Listing Qualifications Department of The Nasdaq Stock Market indicating that the company did not meet the Staff's July 11, 2018 deadline to regain compliance with Nasdaq Listing Rule 5550b1 due to the company's failure to maintain a minimum of $2,500,000 in shareholders' equity or any alternatives to such requirement. As a result, the company would be subject to delisting on July 23, 2018 unless it requests a hearing before a Nasdaq Listing Qualifications Panel. The company intends to request a hearing before the Panel at which it will present its plan of compliance and request a further extension of time. The Panel has the discretion to grant the company up to an additional 180 calendar days from July 12, 2018 to regain compliance.