The City of San Jose is located in the state of California.The month of November. 17, 2023 /PRNewswire/ -- Quantum Corporation (NASDAQ: QMCO) ("Quantum" or the "Company") announced today that it received a notice (the "Notice") from the Listing Qualifications staff of the Nasdaq Stock Market LLC ("Nasdaq") on November 14, 2023 stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) as a result of the Company's delay in filing its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2023 (the "Quarterly Report") with the Securities and Exchange Commission
17, 2023 /PRNewswire/ -- Quantum Corporation (NASDAQ: QMCO) ("Quantum" or the "Company") announced today that it received a notice (the "Notice") from the Listing Qualifications staff of the Nasdaq Stock Market LLC ("Nasdaq") on November 14, 2023 stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) as a result of the Company's delay in filing its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2023 (the "Quarterly Report") with the Securities and Exchange Commission
Earlier this year, the Company filed a Notification of Late Filing on Form 12b-25 on November 13, 2023, stating that the Company would be delaying the filing of the Quarterly Report due to the need for additional time for reassessing the application of the standalone selling price under Topic 606 of Accounting Standards Codification.
As per Nasdaq Listing Rules, the Company intends to submit a plan on or before January 16, 2024, in order to regain compliance. Nasdaq has the power to grant an extension of up to 180 calendar days from the original due date for the Quarterly Report, to May 7, 2024, if the Company's proposal is accepted. As a result of Nasdaq's decision not to accept the Company's plan, the Company will have an opportunity to appeal that decision to a Nasdaq Hearings Panel if Nasdaq rejects the Company.
In an effort to comply with Nasdaq's requirements for the filing of the Quarterly Report, the Company is working diligently to complete its re-evaluation and file the Quarterly Report as quickly as possible.
In light of the Notice, there is no immediate impact on the listing of the Company's common stock on Nasdaq, which will continue to trade on Nasdaq subject to the Company's continued compliance with Nasdaq's other continued listing requirements.
Quantum mechanics and how it works 
In order for today's organizations to make video and other unstructured data smarter, quantum technology, software, and services are providing the solutions that they need to make video and other unstructured data smarter - so their data works for them and not against they. As a company with over 40 years of innovation, Quantum's end-to-end platform is uniquely equipped to orchestrate, protect, and enrich data throughout its lifecycle, providing enhanced intelligence and actionable insights across its entire lifecycle.. There are hundreds of organizations in the cloud services sector, entertainment sector, government sector, research sector, education sector, transportation sector, and enterprise IT sector trust Quantum to bring their data to life, because data makes life easier, safer, and smarter.. There is a listing of Quantum on the Nasdaq (QMCO).. Visit the following website for more information:.Quantum mechanics.Visit www.com
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It should be noted that Quantum and the Quantum logo are registered trademarks of Quantum Corporation and its affiliates either in the United States or in other countries. All other trademarks are the property of their respective owners.
Information that is forward-looking
It is possible that the information contained in this press release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (Exchange Act).. Our forward-looking statements are based largely on our current expectations and projections about the future events that will affect our business in the near future. The forward-looking statements include, for example, statements in relation to the ongoing reevaluation of certain accounting matters, the timing of completion of the reevaluation and the filing of the Quarterly Report, the ability of the Company to maintain compliance with Nasdaq's listing standards, and the Company's plans, objectives, and intentions, which generally are not historical facts.
The forward-looking statements include, for example, statements in relation to the ongoing reevaluation of certain accounting matters, the timing of completion of the reevaluation and the filing of the Quarterly Report, the ability of the Company to maintain compliance with Nasdaq's listing standards, and the Company's plans, objectives, and intentions, which generally are not historical facts.
A forward-looking statement can be identified by the use of words and phrases such as "anticipates", "believes", "can", "could", "estimates", "expects", "forecasts", "intends", "may", "plans", "projects", "targets", "will", as well as variations or similar expressions of these terms and similar phrases.. Further, forward-looking statements include statements regarding future matters and other statements regarding matters that are not historical in nature. It is important to note that these forward-looking statements pertain to future events or our future performance and are subject to a variety of risks and uncertainties, both known and unknown, that may cause actual results, levels of activity, performance, and achievements to differ materially from those expressed or implied by any forward-looking statements, including business, economic, and other risks and uncertainties.
It is important to note that these forward-looking statements pertain to future events or our future performance and are subject to a variety of risks and uncertainties, both known and unknown, that may cause actual results, levels of activity, performance, and achievements to differ materially from those expressed or implied by any forward-looking statements, including business, economic, and other risks and uncertainties.
These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including without limitation, the following: the outcome of the pending re-evaluation of accounting matters and the possibility of adjustments, including material adjustments, to the Company's financial statements as the re-evaluation progresses; the discovery of additional and unanticipated information during the re-evaluation process; risks related to the timely completion of the re-evaluation and filing of the Quarterly Report? the ability to meet stock exchange continued listing standards; the possibility that the Nasdaq may delist the Company's securities? risks related to the Company's ability to implement and maintain effective internal control over financial reporting in the future? the impact of these factors on the Company's performance and outlook.  It is also important to note that the Company has previously reported to the Securities and Exchange Commission (the SEC) a number of risks described in "Risk Factors" in its Annual Report on Form 10-K, which was filed with the SEC for the fiscal year ending March 31, 2023, as well as any subsequent reports that may be filed with the SEC in the future.. There is no intention of the Company to update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law or regulation.
There is no intention of the Company to update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law or regulation.
Contacts for Investor Relations: Shelton GroupLeanne K. Sievers | Brett L. PerryP: 949-224-3874 | 214-272-0070E: [email protected]
 Please contact the following Public Relations Officers for more information: AugustSteven Goldberg | Jenny MacMichaelP: 323-892-5562|323-892-5553E: [email protected]
Quantum Corp. is the source of this information.
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