Five out of six Ominto board members resign following NASDAQ delisting

May 23, 2018 mlmdetective 0

Prior to delisting itself from the NASDAQ exchange over ongoing compliance issues, Ominto had a six-team Board of Directors.On May 18th, three days after the NASDAQ delisting was announced, five of Ominto’s Board of Directors resigned.
Why Mitch Hill, Gregory Newell, Jaye Connolly-LaBelle, Peter Harris and Gary Baughman resigned hasn’t been made public.
An Ominto press-release states only that the resignations were “without disagreement”.
Considering Ominto’s NASDAQ compliance issues and Dubli’s continued operational losses, the timing of the resignations certainly appears ominous.
Ominto’s remaining Board Member, CEO Michael Hansen, appears confident the company will continue to operate.
The search has already commenced for new members of our Board.
In particular, we are pursuing…

Ominto (Dubli) to delist itself from Nasdaq

May 15, 2018 mlmdetective 0

In a May 14th press-release, Dubli (trading as Ominto) has announced it will voluntarily delist itself from the Nasdaq Capital Market.The official reason for the voluntary delisting is ongoing non-compliance with regulatory filing requirements.
The Company’s decision to withdraw its common stock from listing on the Nasdaq Capital Market is due to the fact that the Company has been unable to timely file its periodic reports for the fiscal year ended September 30, 2017, and the quarter ended December 31, 2017.
As previously disclosed, on each of January 3, 2018, February 22, 2018 and March 1, 2018 the Company received a letter from Nasdaq indicating that the Company is not in compliance…