- Nasdaq to delist shares on November 12 due to the company's ongoing inability to provide restated financials for FY2018 and H1/2019.
- Delisting constitutes an event of default under the company's senior secured convertible notes held by a division of High Trail Capital.
- Company needs to come to terms with High Trail Capital to avoid potentially dire consequences.
- Management promised restatements to be completed by year-end and a subsequent attempt to relist the shares.
- Pareteum has not provided financial statements for more than a year, effectively rendering the company a black box. Investors should sell existing positions and move on.
For further details see:
Pareteum: Avoid The Shares As Nasdaq Delisting Constitutes An Event Of Default Under The Company's Convertible Notes