USAT Receives Nasdaq Delisting Notification

Posted On: 3/4/2019

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MALVERN, PA -- The Nasdaq Stock Market LLC notified USA Technologies that it will be delisted as of March 7, unless it appeals the move, according to a statement issued by USAT.
Nasdaq said USAT was being delisted because it was not in a position to file required periodic reports with the Securities and Exchange Commission by the extended March 12 deadline previously granted by Nasdaq.
USAT said it notified Nasdaq on Feb. 8 that it would not be able to file its annual report for the fiscal year ended in June 2018, the fiscal first-quarter ended in September and other required filings.
In January, the Malvern, PA-based cashless payment technology firm shuffled its senior management team and named a compliance committee after an internal audit uncovered accounting issues. | READ MORE
USAT said in its March 4 statement, that it would file an appeal of the delisting by the March 5 deadline and request a hearing.