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Blonder Tongue Laboratories Inc. (BDR) stock gains in the after-hour session. Why is it so?

Blonder Tongue Laboratories Inc. (BDR) stock surged by 14.05% at the last trading close while the BDR stock price continued to rise by 12.32% in the after-hours trading session. As of now, there is no recent news available regarding this gain in BDR stock. BDR is the oldest telephone and cable television video transmission equipment pioneer and developer in the United States. Blonder Tongue Labs is a U.S.-based research and manufacturing company with a track record in producing ultra-reliable material


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Important Past Event

On April 7, 2021, BDR It was announced that it had obtained notification from NYSE American LLC that it was not in compliance with Section 1003(a)(i) of the NYSE American Company Guide’s persisted listing standard (the “Company Guide”). If a publicly traded corporation has stockholders’ equity of less than $2 million and has registered losses from operating operations and/or net losses in two of the last three fiscal years, the provision applies.

BDR submitted a formal financial proposal to NYSE American in order to restore compliance with the listing requirement set out in Section 1003(a)(iii), and the Company obtained notification on August 27, 2020, that its plan had been approved and that the Company had been given a plan period until December 10, 2021. The deadline for BDR to resume compliance with the listing requirements is December 10, 2021, and it extends to the noncompliance cited in all three NYSE American notices. As a consequence, by the date, BDR would be in agreement with Sections 1003(a)(i), 1003(a)(ii), and 1003(a)(iii).

Because

It has been observed that BDR has not reached some aspects of the near-term targets contained in its roadmap to restore compliance with the listing requirements, as disclosed in the Company’s disclosures with the Securities and Exchange Commission, owing to the ongoing impact of the COVID-19 pandemic.

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