Faraday Future responds to questions on NASDAQ delinquency notice
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A number of FFIE followers have asked whether the standard NASDAQ delinquency notice means that NASDAQ plans to delist FFIE stock. The answer is “no”.
To be clear, the NASDAQ delinquency notice is typical in these circumstances and strictly related to our delayed Q3 10-Q filing. Here are the procedural details, for those who are interested: We have 60 days after receipt of the notice (and up to an additional 15 days for good cause) to file our compliance plan with NASDAQ, and our compliance plan may provide for up to 180 days after the original due date for our 10-Q to file the 10-Q and any other delinquent filings. Once we file our compliance plan with NASDAQ in a timely manner, and file our 10-Q and any other delinquent filings within the time period set forth in such plan, which we will do as quickly as possible, we will regain compliance under NASDAQ rules.
Faraday Future is in regular contact with NASDAQ regarding our plan and progress (toward resolving the late filing issue) and we are confident that we will be back in compliance in the relatively near future. As long as we return to a normal SEC filing schedule promptly, there is no material risk of our stock being delisted.
We have seen a number of social media posts and own-media articles which appear to misunderstand the situation. Rest assured that we are working diligently to file our Q3 10-Q and expect to return to normal NASDAQ status soon. We appreciate your interest in Faraday Future and look forward to launching the FF 91 on schedule in July 2022.