Post by
Investor10X on Nov 16, 2024 12:05am
After hour news - explained
The MCTO is not great, but it doesn't affect the stock in its ability to trade as it normally would, so as long as management can sort out the delay in the release of their financials. If not, the company can request an additional extension, but at some point the regulators will halt the stock if they do not see the necessary progress needed to get the financials released. If the stock ends up being halted, it can remain halted for months or even over a year (ex. RHT - Reliq Health), which means your money is frozen or it can be eventually delisted (ex. EPWCF - Empower Clinics), which means your money is lost.
The company did not eleborate on what the unexpected delays are, so if you are a shareholder you may want to contact the company to get more information. Sometimes the delay is that the CFO is inexperienced and in over their head and may end up resigning and therefore the company would need to find a new CFO which extends the delay even longer, other times it's missed details that are required.
So for those that don't understand what a MCTO is, I hope this helps you out. I'm not a shareholder in NUMI, but happy to help explain the situation for shareholders not familiar with a MCTO. I'll remain off on the sidelines to see how this plays out and only after I see the financials.