Dear Emmaus Family,
It has been exciting to see the growth of our company which you have so kindly supported through good times and difficult times. I would like to thank you again on behalf of everyone at Emmaus Life Sciences, Inc, and its subsidiaries.
Today, as many of you have heard, we had to announce the decision of Nasdaq to delist our company. Their decision is based on our deficit in shareholders’ equity. While they have offered us another chance to appeal, the delisting will occur on September 11, 2019.
We have accepted Nasdaq’s decision and our common stock will be quoted on the OTC market for the time being. As Nasdaq stated, they acknowledge the important work being done by Emmaus and look forward to our return to Nasdaq once we meet their listing requirements. We remain committed to listing our common stock on a national securities exchange.
Meanwhile, new projects are moving forward especially with studies on diverticulosis and diabetes. We were glad to announce recently, we have obtained allowance of our diverticulosis patent from EU. This will make our technology in treating diverticulosis covered in almost all the major regions in the world.
Emmaus will continue to grow with our goal of caring for patients in need. We are deeply grateful to your participation in supporting Emmaus.
On the administrative side, Emmaus stock will be quoted on the OTC market after September 11.
Yutaka Niihara, M.D., M.P.H. Chairman and Chief Executive Officer