NASDAQ — Consumer Cyclical: Manufacturing, Auto Manufacturers: Motorcycles Bicycles & Parts
www.damon.comDamon Inc. will transition from the OTC Pink Current Market to the OTCID Basic Market effective July 1, 2025. This change follows the company's halt from trading on Nasdaq, as it seeks to resume trading after delisting determinations. The OTCID Basic Market is designed for companies providing current information and management certification, lacking the qualitative standards of higher markets like OTCQX and OTCQB. Damon Inc. exceeds the basic standards required for this market but is also pursuing an application for OTCQB trading, with no assurance of approval as of now.
Market TransitionDamon Inc. has until July 7, 2025, to meet the Nasdaq's minimum market value requirement of $50 million to avoid delisting. The company was notified on January 7, 2025, that its Market Value of Listed Securities (MVLS) had fallen below this threshold for 30 consecutive business days prior to the notification. The company may continue trading on Nasdaq while it attempts to regain compliance during the 180-day compliance period. If it fails to do so, it may face delisting but can appeal the decision. The outcome may affect investor confidence and the company's market standing.
Compliance Date