Greenwave Technology Solutions Faces Nasdaq Delisting Threat Over Delinquent Filings

Greenwave Technology Solutions Inc. (NASDAQ: GWAV) received a Nasdaq Staff Determination Letter on November 18, 2025, citing non-compliance with Listing Rule 5250(c)(1) due to the company's failure to timely file its Forms 10-Q for the periods ended March 31, June 30 and September 30, 2025. The company filed the March quarter report on November 19 and is working to complete the remaining two quarterly filings. This regulatory action highlights the importance of timely financial reporting for publicly traded companies and the serious consequences of failing to meet disclosure requirements.

The determination letter notes that trading of Greenwave's stock could be suspended as early as November 28 unless the company appeals the decision by November 25. Greenwave has indicated it intends to file an appeal, which would automatically stay any suspension while a Nasdaq Hearings Panel reviews the matter. This development is significant for investors as it represents a critical juncture for the company's continued listing status on the Nasdaq exchange, potentially affecting stock liquidity and investor confidence in the company's governance practices.

Greenwave Technology Solutions operates through its wholly owned subsidiary Empire Services, Inc., running 13 metal recycling facilities across Virginia, North Carolina, and Ohio. The company's operations focus on collecting, classifying, and processing raw scrap metal, including both ferrous and nonferrous materials. The company has implemented several unique technologies to increase metal processing volumes and operating efficiencies, including a downstream recovery system and cloud-based ERP system, positioning itself in the environmentally important steel recycling industry.

Steel represents one of the world's most recycled products with the ability to be re-melted and re-cast numerous times, providing significant environmental benefits over virgin metals including reduced energy use, lower CO2 emissions, decreased waste, and conservation of natural resources. The company serves a diverse customer base including large corporations, industrial manufacturers, retail customers, and government organizations. For more information about the company's operations, investors can visit https://www.GWAV.com.

The company has indicated plans to aggressively expand its footprint by acquiring independent, profitable scrap yards in the coming months, though the current regulatory challenges may impact these expansion plans. The latest news and updates relating to the company are available through various financial news platforms including the company's newsroom at https://ibn.fm/GWAV. The situation underscores the critical importance of regulatory compliance for publicly traded companies and serves as a reminder to investors about the risks associated with companies facing potential delisting actions from major exchanges.