Nasdaq has indicated that the Panel will issue its determination regarding the Company's listing status likely within 30 days of the hearing. The Panel has the discretion to grant the Company an extension of up to 360 days from the deadline for the filing of the Company's first late filing, or April 30, 2019.
As previously disclosed, the Company's request for a hearing automatically stayed the delisting of the Company's securities for 15 calendar days, or until November 21, 2018. The Company expects to receive a separate determination from the Panel regarding the Company's request for a further extension of the stay - at least pending the ultimate conclusion of the hearing process - prior to November 21, 2018.
The Company continues to make significant progress in working with its independent auditors to finalize its audited financial statements as of and for the years ended December 31, 2015, 2016 and 2017.