Friday 23 February 2024

Coffee Holding receives Notice from Nasdaq on delayed annual report

The Notice has no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq Capital Market. The Notice states that the Company has until April 3, 2023 to submit a plan to regain compliance with the Listing Rule

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STATEN ISLAND, New York, USA – Coffee Holding Co., Inc. (Nasdaq: JVA) (the “Company”) announces that it received a notice (the “Notice”) dated March 21, 2023 from The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company has not yet filed its Form 10-Q for the period ended January 31, 2023 (the “Quarterly Report”) and remains delinquent in filing its Annual Report on Form 10-K for the period year October 31, 2022 (the “Annual Report” and together with the Quarterly Report, the “Delinquent Reports”) with the Securities and Exchange Commission (the “SEC”).

The Notice has no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq Capital Market. The Notice states that the Company has until April 3, 2023 to submit a plan to regain compliance with the Listing Rule.

If Nasdaq accepts the Company’s plan to regain compliance, then Nasdaq may grant the Company up to 180 calendar days from the prescribed due date of the Annual Report, or July 31, 2023, to file the Delinquent Reports to regain compliance.

The Company currently expects to file the Annual Report on or before March 31, 2023. Further, the Company continues to work diligently to finalize the Quarterly Report and to as promptly as possible to regain compliance with the Listing Rule.

This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.

About Coffee Holding

Coffee Holding Co., Inc. is a leading integrated wholesale coffee roaster and dealer in the United States and one of the few coffee companies that offers a broad array of coffee products across the entire spectrum of consumer tastes, preferences and price points. Coffee Holding has been a family-operated business for three generations and has remained profitable through varying cycles in the coffee industry and the economy.

The Company’s private label and branded coffee products are sold throughout the United States, Canada and abroad to supermarkets, wholesalers, and individually owned and multi-unit retail customers.

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