Attis Industries not in compliance with Nasdaq rules
Attis Industries announced that the Nasdaq Capital Market has informed the Company by letter that it is not in compliance with the Exchange's continued listing requirements as set forth in Nasdaq Listing Rule 5550. This is a result of the Company's minimum bid price falling below $1.00 per share for a period of thirty consecutive business days, however this notification will have no immediate effect on the listing or trading of the common stock on the Exchange. Under the Nasdaq Listing Rule 581, the Company is provided a period of 180 days in which it may regain compliance. The Company disagrees with the public market's perceived per share value of its common stock but believes that it is the result of a delay in completing its required public filings with the SEC. The Company continues to work diligently with its independent accounting firm to expediently complete the delinquent filings with the confidence that once these filings are current its minimum bid share price will come back within compliance.