Integrated Media Technology Limited Faces Compliance Challenges with Nasdaq Listing Requirements

Integrated Media Technology Limited (NASDAQ: IMTE), an Australian firm involved in trading Halal products and manufacturing specialized electronic glass, recently announced that it has received a deficiency letter from the Nasdaq Stock Market. This notification, dated May 2, 2025, indicates that the company has failed to comply with Nasdaq Listing Rule 5250(c)(1) due to its untimely filing of the annual report on Form 20-F for the year ended December 31, 2024.

Deficiency Letter Overview

The deficiency letter stipulates that IMTE must submit a compliance plan to Nasdaq by July 2, 2025, which allows a 60-day window for the company to outline steps to regain compliance with the relevant listing requirements. The company plans to prepare and deliver this Compliance Plan as promptly as possible to demonstrate its commitment to adherence to Nasdaq's rules.

In the event that Nasdaq accepts the proposed Compliance Plan, it may provide IMTE with an extension until October 29, 2025—180 days following the initial due date of the annual report—to fulfill its compliance obligations. During this extension period, an independent registered public accounting firm will conduct the necessary audits on the company’s financial statements for the relevant fiscal year.

Impact of the Deficiency

Importantly, it is noted that the receipt of this deficiency letter will not have an immediate impact on the status of IMTE’s shares on the Nasdaq Capital Market. This means that although the company must address compliance issues, its stock listing will not be affected in the short term. This gives IMTE essential breathing room to resolve the underlying problems and meet the necessary regulations without facing immediate threats to its market presence.

As part of Nasdaq's governance, any company that receives such notification is required to disseminate this information promptly to inform shareholders and the public about its compliance standing. IMTE's announcement thus underscores its transparency and responsibility in managing shareholder communications following the receipt of the deficiency notice.

About Integrated Media Technology Limited

Integrated Media Technology Limited operates in sectors crucial to contemporary technology and consumer products. With a strong focus on halal sector products, nano coating technologies, and electronic glass, IMTE continues to expand its operational scope in a competitive marketplace. The company's website can provide further insights into its products and services at www.imtechltd.com.

Conclusion

The current challenges faced by Integrated Media Technology Limited serve as a reminder of the stringent compliance standards set forth by major stock exchanges like Nasdaq. Through its proactive measures and equitable response to the deficiency letter, IMTE is positioned not only to rectify its standing but also to potentially provide a stronger foundation for its future endeavors in the dynamic market.

As the company navigates these regulatory waters, industry observers will keenly watch how it maneuvers through the compliance requirements and how this impacts its growth trajectory. IMTE's approach will likely set a precedent for other companies operating in similar sectors regarding shareholder trust and regulatory adherence.