05:15 AM EDT, 05/24/2024 (MT Newswires) -- Greenlane Holdings ( GNLN ) said Thursday that it received notice from the Nasdaq Stock Market that the company was not in compliance with Nasdaq listing rules as it did not timely file its quarterly report on Form 10-Q for the quarter ended March 31 with the Securities and Exchange Commission.

Previously, the company was also unable to timely file its annual report on Form 10-K for the fiscal year ended Dec. 31, 2023.

The company has 60 days from the due date of the Form 10-K, or until June 17, to submit to Nasdaq a plan to regain compliance. If Nasdaq accepts the plan, it may grant the company up to 180 days to regain compliance.

The notice has no immediate effect on the listing of its common stock on the Nasdaq, however, if it fails to timely regain compliance with the listing rule, its common stock will be subject to delisting.

The company said it is working towards filing its Form 10-K and Form 10-Q as soon as possible.

Price: 0.5691, Change: +0.02, Percent Change: +3.32