Teligent receives notification of deficiency from Nasdaq
Teligent said that on November 13, 2018 it received a standard notice from NASDAQ stating that, as a result of not having timely filed its quarterly report on Form 10-Q for the quarterly period ended September 30, 2018, Teligent is not in compliance with NASDAQ Listing Rule 5250c1, which requires timely filing of periodic financial reports with the Securities and Exchange Commission. As previously disclosed, additional time to file the Form 10-Q was required primarily due to the company's transition to its newly engaged audit firm, as well as the need to amend its second quarter results. The company intends to file its Quarterly Reports with the SEC as soon as possible and continues to work diligently to finalize its financial statements. Under the NASDAQ Listing Rules, the company has until January 14, 2019, to either file the Form 10-Q or submit a plan to NASDAQ in order to regain compliance with NASDAQ's Listing Rules. The Company intends to take all necessary steps to achieve compliance with NASDAQ's continued listing requirements. The NASDAQ notice has no immediate effect on the listing or trading of Teligent's common stock on the NASDAQ Stock Market.