Energy Focus receives Nasdaq notice of noncompliance
Energy Focus announced a notification dated August 21 from the Nasdaq Stock Market informing the company that since it has not yet filed its Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, the company is not in compliance with Nasdaq Listing Rule 5250(c)(1). The Listing Rule requires listed companies to timely file all required periodic financial reports with the SEC. The Nasdaq notification letter specifies that the company has 60 calendar days, or until no later than October 21, to submit a plan to regain compliance with the Listing Rule. If Nasdaq accepts the company's plan, Nasdaq can grant an exception of up to 180 calendar days from the Quarterly Report's due date, or until February 17, 2020, to regain compliance. The company's common stock will continue to trade on the Nasdaq Capital Market pending Nasdaq's review of the company's plan to regain compliance. The company is working diligently to complete the Quarterly Report and expects to file the Quarterly Report prior to the Compliance Plan Due Date.