SAN DIEGO - Mitek Systems , Inc. (NASDAQ:MITK), a company specializing in digital identity and fraud prevention, has been granted a conditional extension to remain listed on the Nasdaq Capital Market. This decision was made by the Nasdaq Hearings Panel on April 1, 2024, provided Mitek files its overdue Quarterly Report by April 15, 2024.
The company had previously received a notice of delisting due to non-compliance with Nasdaq's Listing Rule 5250(c)(1), which requires timely filing of periodic financial reports. Mitek failed to file its Annual Report for the fiscal year ending September 30, 2023, on time, which subsequently delayed the filing of its Quarterly Report for the quarter ending December 31, 2023.
Mitek attended a hearing on March 19, 2024, where it requested the continued listing on the Nasdaq Capital Market. On the same day, the company filed its overdue Annual Report and expressed its intent to file the Quarterly Report as soon as possible to regain compliance with the Listing Rule.
Despite the panel's decision, there is no certainty that Mitek will meet the new deadline or be able to maintain compliance with all requirements for continued listing on the Nasdaq.
Mitek is recognized for its identity verification technologies, serving a vast majority of U.S. banks and numerous global organizations. The company's products are designed to ensure secure and efficient digital access, while aiding companies in risk reduction and compliance with regulatory standards.
The information in this article is based on a press release statement from Mitek Systems, Inc.
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