Bit by bit, Mitek fights Nasdaq delisting. Decision due in weeks
Biometric software maker Mitek is still technically at odds with its securities listing exchange, Nasdaq. Still unable to file its previous three financial reports, Mitek could face being delisted.
There has been some progress on the company’s part. It’s most recent annual report for the fiscal year ended September 30 has been filed. As for the three previous quarters, Mitek only says it intends to get them together.
A firm being delinquent with any required report can result in trading being suspended or ended indefinitely. Without the timely production of the numerous standardized messages and reports that the Nasdaq (and the Securities & Exchange Commission), investors cannot make informed buy or sell decisions.
A Nasdaq panel met with Mitek executives August 10 to hear the company’s plans to get current, and, according to Mitek, a final decision is expected later this month or next.