GWG Holdings, Inc. (GWGH) has seen a decrease of 10.67% in pre-market. However, the last trading session closed at $4.50 with an increase of 31.58%. The recent decline can be attributed to investors’ profit takings.
Requirement Completion for Listing on Nasdaq stock market
GWGH announced on 30th December 2021 that Nasdaq has confirmed that it is in accordance with Nasdaq Listing Rule 5620(a). Not only this but it is in accordance with the continuing listing criteria, and it will be listed on the Nasdaq Stock Market.
Third Quarter and Full Year Results by GWGH – What’s the new update?
GWGH reported third quarter and full-year financial and operating results on 8th December 2021. The company experienced a net loss of about $50.6 million and $169.9 million in the third quarter and full-year respectively. Moreover, in the third quarter, the life insurance portfolio has continued to provide policy benefits. Not only this but the company has realized $43.2 million from 26 life insurance policies.
In the most recent financial statements, GWGH said that the company is a going concern with serious weaknesses in internal controls. Due to the recent loss of the ability to generate cash and repeated losses from operational processes the viable business disclosure suggests there is a serious question about the company’s capacity to achieve its economic immediate liabilities over the next 12 months.
Successful Resolution of Nasdaq Delisting Notification of GWGH
GWGH announced the successful resolution of the Nasdaq Delisting Notification on 7th September 2021. GWGH will remain listed on Nasdaq, subject to the firm filing current financial statements. In addition, the company thanks Nasdaq for taking the time to examine the appeal. And the team is certain that they will be able to meet the timeframes it has set. Lastly, this will allow the company to remain focused on the business plan and exciting opportunities ahead.
About GWGH
GWG Holdings, Inc. (GWGH) is a Dallas-based financial services company that specializes in marketplace solutions for investors. GWGH operates and controls a diversified selection of alternative assets. Moreover, this includes $1.9 billion in life insurance benefits and visibility to a varied and growing loan portfolio protected by 122 actively managed substitute investment funds, through its subsidiaries.
