SAExploration receives Nasdaq non-compliance letter
SAExploration Holdings announced that on November 19, 2019, it received a notice from the Listing Qualifications Department of the Nasdaq Stock Market LLC stating that because the company had not timely filed its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2019 and because the company remains delinquent in filing its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2019, the company is not in compliance with Nasdaq Listing Rule 5250c1, which requires listed companies to timely file all required public financial reports with the Securities and Exchange Commission. The Notice has no immediate effect on the listing or trading of the company's common stock on the Nasdaq Capital Market. The Notice states that the company has until December 17, 2019 to submit to Nasdaq an updated plan to regain compliance with the Nasdaq Listing Rules. If Nasdaq accepts the company's updated plan, then Nasdaq may grant the company up to 180 days from the prescribed due date for filing the Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2019, or until February 11, 2020, to regain compliance.