BMGL News & Events

Basel Medical received notification from Nasdaq that based on the company's amended annual report on Form 20-F for FY25, filed with the SEC on March 13, Nasdaq has now determined that the company has complied with the periodic filing requirement for Nasdaq. Accordingly, the prior deficiency relating to the Periodic Filing Rule has now been resolved.

Basel Medical announced that it has received notification from Nasdaq that based on the closing bid price of the company's shares for the last 30 consecutive business days, the company no longer meets the requirements under Nasdaq's Listing Rules for listed securities to maintain a minimum bid price of $1 per share.

Basel Medical announced that it has received notification from Nasdaq that the company's annual report on Form 20-F for the fiscal year ended June 30 was incomplete and that the company is delinquent in its filing obligations. This was because such report failed to include an opinion from the company's auditor, NLA DFK Assurance PAC, on the company's financial statements. Pursuant to Listing Rule 5250, companies shall timely file all required periodic financial reports with the United States Securities and Exchange Commission, and annual reports filed shall contain audited financial statements. Under Nasdaq rules, the company now has 60 calendar days to submit a plan to regain compliance and if such plan is accepted by Nasdaq, an exception of up to 180 calendar days from the original filing's due date may be granted, or until May 18, 2026, to regain compliance.

Basel Medical announced that it is putting on hold on the acquisition of BTC digital asset. After thorough discussions, Basel and the consortium of Bitcoin holders have mutually agreed to pause the acquisition of digital asset. This decision reflects the ongoing regulatory review of digital assets by U.S. authorities and the current lack of clarity on how forthcoming policies may impact the transaction.