Blockchain Miner HIVE receives letter about shortage from Nasdaq
- Blockchain excavator HIVE has 60 scheduled days to present a scheme for Nasdaq on how it expects to adjust to its annual documentation needs
- HIVE shares rose more than 13% on the day
- The excavator missed the cut-off time last month, citing issues that include a more limited documentation time for non-adventure guarantors
The public cryptographer HIVE Blockchain Technologies said on Monday that it has received a letter from Nasdaq mentioning that the company presented a scheme to restore consistency under the trading rules for dispatch.
HIVE said that it has received a notification of a list of deficiencies given by the subject’s qualification department after the excavator’s lost annual submission time before the end of last month.
The letter comes as a large number of the company’s best mining companies are struggling to make a living due to changing macroeconomic circumstances, rising power costs and lower bitcoin costs. HIVE has not blamed any of these variables, saying the lost cut-off time comes from a more limited documentary cut-off time for non-adventure guarantors.
The Vancouver company has 60 calendar days to submit its plan
The Vancouver firm has 60 scheduled days to present its scheme and specify the manner in which it intends to accept Rule 5250 (c) (1). Once the event has been confirmed in full, the excavator has up to 180 plan days from the due date for its annual Form-40F documentation to regain consistency, HIVE said in a statement.
According to the standard, an organization will easily record all necessary periodic monetary reports with the commission through the EDGAR system or with the other administrative authority, according to the trade website.
Last month, HIVE said that it would miss June 29 for the financial year ended March 31 with over fourteen days, and it is intended to document on July 15. The documentation includes reviewed financial statements, confirmations from the CEO and CFO, and the manager’s interview, as well as an investigation.
HIVE fixed more than $ 68 million in revenue with a net benefit that exceeded $ 64 million for the second quarter from last year, according to the organization’s new budget reports.
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HIVE had more than $ 68 million in revenue with a net profit of over $ 64 million for the third quarter
Due to the postponement, HIVE has asked controllers across all regions and domains of Canada to make a permanent request that prevents managers, officials and insiders from exchanging HIVE values.
At the time, the company accused a mix of variables, including a more limited admission time for non-adventure guarantors, a rapid expansion in the organization’s development and an expansion in the number of exchanges that occur due to this development.
HIVE’s portion cost fell over 10% following the declaration of inability to meet its annual documentation time limit, from $ 4.42 ($ 3.43) to $ CA4.01 ($ 3.08). The engraver’s portion cost has since risen, up nearly 14% on the day, from $ 3.83 ($ 2.94) to $ 4.40 ($ 3.38). So far this year, HIVE’s portion cost is down over 76%.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while graduating. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge of blockchain helps him provide a unique perspective to his writing
