IMAC Holdings received a Nasdaq extension to file its Q2 2024 report until February 17, 2025, due to staffing challenges.
Quiver AI Summary
IMAC Holdings, Inc. announced that it has received a temporary exception from Nasdaq, allowing it until February 17, 2025, to file its Quarterly Report on Form 10-Q for the period ended June 30, 2024. The delay is due to complexities in preparing financial statements related to various events during the quarter, including the acquisition of assets from Theralink Technologies, the exchange and issuance of preferred stocks and warrants, and staffing challenges, including the temporary loss of a key employee. Despite the delay, there is no immediate impact on the company's stock listing or trading. IMAC is committed to maintaining transparency and timely financial reporting for its shareholders.
Potential Positives
- The company has received an extension from Nasdaq, allowing additional time to file its Quarterly Report, mitigating immediate compliance risks.
- This extension provides IMAC Holdings more time to address complex financial situations without jeopardizing its stock listing or trading status.
- The press release demonstrates the company's commitment to transparency and timely financial reporting to its shareholders and the investment community.
Potential Negatives
- The company has been granted an exception for filing its Form 10-Q, indicating that it has not met regulatory deadlines, which may raise concerns about its governance and operational efficiency.
- The delay in filing is attributed to complexities arising from recent events and staffing challenges, suggesting potential instability within the company's operational structure.
- The necessity to request an extension due to limited staffing and the loss of a key staff member raises questions about the company's capacity to manage critical financial processes effectively.
FAQ
What is IMAC Holdings' current status with Nasdaq compliance?
IMAC Holdings has received an exception allowing an extension to file its Form 10-Q until February 17, 2025.
Why is IMAC Holdings delayed in filing its Form 10-Q?
The delay is due to complexities in financial statement preparation and staffing challenges, including an asset acquisition.
How does the extension affect IMAC Holdings' stock trading?
The extension has no immediate effect on the listing or trading of IMAC Holdings' common stock on Nasdaq.
What challenges led to the delay in IMAC's reporting?
Challenges included the acquisition of assets, staffing limitations, and the loss of a key staff member crucial for reporting.
What commitment does IMAC Holdings have towards financial transparency?
IMAC Holdings remains committed to providing transparent and timely financial information to shareholders and the investment community.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$BACK Hedge Fund Activity
We have seen 4 institutional investors add shares of $BACK stock to their portfolio, and 5 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- HRT FINANCIAL LP removed 51,862 shares (-100.0%) from their portfolio in Q2 2024
- KESTRA ADVISORY SERVICES, LLC removed 44,395 shares (-100.0%) from their portfolio in Q3 2024
- WALLEYE CAPITAL LLC added 13,831 shares (+inf%) to their portfolio in Q2 2024
- GEODE CAPITAL MANAGEMENT, LLC added 11,642 shares (+inf%) to their portfolio in Q3 2024
- TWO SIGMA INVESTMENTS, LP removed 11,379 shares (-100.0%) from their portfolio in Q2 2024
- UBS GROUP AG added 4,687 shares (+2037.8%) to their portfolio in Q2 2024
- TOWER RESEARCH CAPITAL LLC (TRC) removed 2,800 shares (-43.0%) from their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
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