SCWorx Announces Compliance with Nasdaq Listing Standards and Appointment of Tim Hannibal as CEO
NEW YORK, N.Y., June 01, 2021 (GLOBE NEWSWIRE) -- SCWorx Corp. (Nasdaq: WORX), a provider of data management services to healthcare providers, announced today that it has regained compliance with The Nasdaq Stock Market’s (“Nasdaq”) continued listing requirements regarding annual stockholder meetings and periodic reporting.
In a letter dated May 25, 2021, Nasdaq indicated that SCWorx has regained compliance with its continued listing requirements for periodic reporting as a result of the filing of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. In addition, the Company received a letter from Nasdaq on May 27, 2021 indicating that it has regained compliance with the annual meeting requirement as a result of having completed its Special Meeting in lieu of the Annual Meeting of Stockholders on May 24, 2021. At this time, all deficiencies of which the Company has been notified have been rectified, and Nasdaq considers these matters closed. As such, SCWorx’s common stock continues to be listed and trading on Nasdaq under the symbol “WORX”.
In addition, the Board of Directors of SCWorx announced that Tim Hannibal, the Company’s President and COO, has been promoted to Chief Executive Officer of the Company Mr. Hannibal originally joined the company as Chief Revenue Officer in late 2016. Prior to SCWorx Mr. Hannibal was Founder, President and CEO of a Software-as-a-Service company, VaultLogix, for 13 years.
“We are pleased to have regained compliance with the Nasdaq’s listing requirements,” said Tim Hannibal, President and CEO of SCWorx. “With this behind us, we can focus on executing our 2021 growth strategy.”
Mr. Hannibal added, “Over the last 10-15 years technology within the healthcare industry has evolved both in cost and complexity. Unfortunately, the technology which was implemented within different hospital departments and with disparate objectives has failed to provide the promised advancements. SCWorx delivers a powerful solution which assists hospitals inbenefiting from their technology and realizing the originally designated efficiency, accuracy and cost savings. I am excited for the future and look forward to assisting both the company and our customers in achieving their objectives.”
“Tim is clearly the leader for the next evolution of SCWorx and he has the unanimous support of the Board of Directors,” said Mark Shefts, SCWorx’s Chairman of the Board of Directors. The SCWorx Board of Directors has had a strong focus on bringing in the right person to lead the company and we believe that Tim has demonstrated that he is the best leader for our employees, customers and shareholders. The SCWorx board is confident that the Company has the leadership necessary to drive its success for the next chapter.”
About SCWorx Corp.
Released June 1, 2021
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