BROOKLYN, NY-based electronic components manufacturer Cemtrex Inc. (NASDAQ:CETX), currently trading with a market capitalization of $5.59 million, has successfully regained compliance with Nasdaq's minimum stockholder equity requirement, closing the non-compliance matter that began in August 2024.
On January 2, 2025, Cemtrex received notification from the Nasdaq Stock Market LLC indicating the company now meets the required minimum stockholder equity threshold for continued listing on the Nasdaq Capital Market.
This follows an August 2024 report where Cemtrex's equity fell below the $2.5 million mark, as per Nasdaq Marketplace Rule 5550(b)(1). According to InvestingPro data, the company operates with a significant debt burden, with a debt-to-equity ratio of 4.76x.
Cemtrex was granted an extension until February 17, 2025, to remedy the shortfall, according to a filing from October 2024. However, the company's Form 10-K filed on December 30, 2024, showed a stockholder's equity of $4,710,677, exceeding the minimum requirement and leading to Nasdaq's determination of compliance.
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The company, listed under the ticker NASDAQ:CETX, specializes in electronic components and accessories, with its principal executive offices located in Hauppauge, NY. The SEC filing also included the company's contact information and principal address, confirming the details provided in the notification of regained compliance.
This development marks the conclusion of the listing deficiency issue for Cemtrex and ensures its continued presence on the Nasdaq Capital Market. The information is based on a press release statement filed with the Securities and Exchange Commission.
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