04:29 PM EDT, 05/17/2024 (MT Newswires) -- Alpine 4 Holdings ( ALPP ) said Friday it received a staff delisting determination from the listing qualifications department of Nasdaq on Tuesday.

The exchange initiated a process that can result in the delisting of Alpine securities from the Nasdaq for not complying with the exchange's listing rule for timely filing of all periodic financial reports to the US Securities and Exchanges Commission, the company said in a statement.

The company received the staff determination for failing to submit financial reports for the quarter ending Sept. 30 and its annual report for the period ending Dec. 31, according to the statement.

Alpine plans to request a hearing on the staff delisting determination before the Nasdaq hearings panel, which will automatically stay the suspension of shares for 15 days.

The company said it seeks an additional stay of any suspension or delisting action until the hearing process is completed.