HUB Cyber Security (NASDAQ: HUBC), a developer of confidential computing cybersecurity solutions and advanced data services, needs additional time to complete the audit of its annual 2023 financial statements; the company also needs additional time to file its 2023 annual report. The company noted that its recent acquisition of QPoint along with efforts to finalize a debt restructuring has resulted in the need for additional time. Both these key milestones should increase the company’s financial stability and enhance its operational capabilities. “The company has received a notice from the NASDAQ Stock Market LLC indicating noncompliance with NASDAQ Listing Rule 5250(c)(1) due to the delay,” the company stated in the press release. “Importantly, this notice does not immediately affect the listing or trading of HUB’s securities, which will continue on NASDAQ as long as other listing requirements are met. Under the NASDAQ Listing Rules, the company has 60 calendar days, or until July 19, 2024, to submit a plan to regain compliance. If NASDAQ accepts the company’s plan, then it may grant an exception of up to 180 calendar days from the original due date of the annual report or until Nov. 11, 2024. While there is no guarantee that NASDAQ will accept the plan or grant an extension, the company is optimistic about meeting these requirements.”
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About HUB Cyber Security Ltd.
HUB Cyber Security was established in 2017 by veterans of the elite intelligence units of the Israeli Defense Forces. The company specializes in unique cybersecurity solutions protecting sensitive commercial and government information. The company debuted an advanced encrypted computing solution to prevent hostile intrusions at the hardware level while introducing a novel set of data-theft prevention solutions. HUB Security operates in more than 30 countries and provides innovative cybersecurity computing appliances, as well as a wide range of cybersecurity services worldwide. For more information about the company, please visit www.HUBSecurity.com.
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