SCWorx Receives Notification of Deficiency from The Nasdaq Stock Market Due to Company’s 2019 Form 10-K not yet being Filed...
June 05 2020 - 5:06PM
SCWorx Corp. (Nasdaq: WORX) announced today that on June 1 and June
2, 2020, the Nasdaq Stock Market notified the Company that it was
not in compliance with the Nasdaq’s rules for continued listing
because the Company has not yet filed its 10-K for the fiscal year
ended December 31, 2019 (“2019 10-K”), as required by Nasdaq Rule
5250(c)(1) (the June 2 notification superseded the June 1
notification). The Nasdaq notification requires the Company to
submit its plan to regain compliance, no later than July 3, 2020.
In response to the Nasdaq notification, the Company intends to
file its 2019 10-K during the week ended June 12, 2020, but in any
case, before the due date for submitting its compliance plan to
Nasdaq, the effect of which will be that the Company will have
cured the deficiency specified in the notification.
About SCWorx Corp.
SCWorx has created The Ultraverse Platform™, an
advanced attributed virtualized item data warehouse (“VDW”)
utilizing machine learning and artificial intelligence to offer a
suite of software-as-a-service based solutions for healthcare
providers. The value proposition for customers revolves around full
integration of all solution modules with the VDW platform. The
solution modules include Virtual Item Master, contract management
and request for pricing (RFP) module, automated rebate management
module, data interoperability (EMR, MMIS, finance) module,
Automated Item Add Portal, Virtual General Ledger, and the data
analytics module. SCWorx’s Ultraverse Platform™ creates a single
source for information for healthcare providers’ data governance
and data analytics for executives.
Forward-Looking Statements
This press release contains “forward-looking
statements” that involve substantial risks and uncertainties for
purposes of the safe harbor provided by the Private Securities
Litigation Reform Act of 1995. All statements, other than
statements of historical facts, included in this press release
regarding strategy, future operations, future contract renewals and
terminations, future financial position, prospects, plans and
objectives of management are forward-looking statements. You can
identify many (but not all) such forward-looking statements by
looking for words such as “assumes,” “approximates,” “believes,”
“expects,” “anticipates,” “estimates,” “projects,” “seeks,”
“intends,” “plans,” “could,” “would,” “may” or other similar
expressions. You should not place undue reliance on these
forward-looking statements. Such statements are based on
management’s current expectations and involve risks and
uncertainties. Actual results and performance could differ
materially from those projected in the forward-looking statements
as a result of many factors, including, without limitation,
securing future contracts and orders, future product sourcing,
supply disruptions, containing costs, the ability to project future
cash utilization and reserves needed for contingent future
liabilities and business operations, the availability of
sufficient resources of the company to meet its business objectives
and operational requirements and other important factors that are
detailed in filings with the Securities and Exchange Commission
made from time to time by SCWorx, including its Annual Report on
Form 10-K for the year ended December 31, 2018, Quarterly Reports
on Form 10-Q, and Current Reports on Form 8-K. Matters described in
forward-looking statements may also be affected by other known and
unknown risks, trends, uncertainties and factors, many of which are
beyond the company’s ability to control or predict. SCWorx
undertakes no obligation to release publicly any revisions to any
forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated
events.
Contacts:Marc Schessel mschessel@scworx.com
SCWorx (NASDAQ:WORX)
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