Sonim Technologies Inc (NASDAQ: SONM) announced that the company has received an extension of 6 months to regain compliance as per Nasdaq guidelines for minimum bid listing. Sonim Technologies remain confident that this extension will help broaden its horizons by restructuring, which can lead to lowered operative expenses and prove long-term benefits.
Sonim Tech has also transferred its Shenzhen Manufacturing to Unicair, in the process to streamline its cost structure by 2021. The company is currently launching a smart scanner that comes with an integrated barcode scanner for tablet markets. This device will open new opportunities and worldwide outcomes worth over $2billion.
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Currently, the company intends to monitor the closing bid price of its common stock and has given in writing Nasdaq it will adhere to and implement its guidelines in order to regain compliance with the minimum bid requirement. Nasdaq showed signs of positive reinforcement on the company’s part also allowed the company to transfer its stock from Nasdaq Global Market to Nasdaq Capital Market.
Sonim Technologies is a leading US provider of mobility solutions tailored for task workers who are physically engaged in their work environment. The company has designed industry-grade tools and workflow solutions that have helped improve worker productivity, communication, and safety in the workplace.