Hong Kong digital asset management company Metalpha has disclosed that it has received a written notice from Nasdaq stating that it has failed to timely submit its 20-F form report for the fiscal year ending March 31, 2023, thereby violating Nasdaq Rule 5250(c)(1), which requires listed companies to timely submit periodic reports to the U.S. Securities and Exchange Commission.

The 20-F form is mainly used by listed companies to disclose financial data, management discussion and analysis, and financial statements prepared and audited under GAAP/IFRS, among other information.

However, this notice will not immediately affect the listing or trading of Metalpha common stock on the Nasdaq Capital Market, but the company is required to submit the required compliant forms within 60 calendar days or no later than October 16, 2023.