Failure to Satisfy Listing Rule Form 8 K

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On July 30, 2024, International Media Acquisition Corp. (the "Company") received a notice from the staff of the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") stating that as the Company had not completed an initial business combination within 36 months of the effective date of its registration statement in connection with its initial public offering, it was not in compliance with Nasdaq IM 5101-2 and was therefore subject to delisting. The Company has until August 6, 2024 to request a hearing before the Nasdaq Hearings Panel (the "Panel"). If the Company does not request a hearing before the Panel by that date, trading in its securities will be suspended at the opening of business on August 8, 2024 and a Form 25 NSE will be filed with the Securities and Exchange Commission ("SEC") removing the securities from listing and registration on The Nasdaq Stock Market. In the event the Company's securities are delisted from Nasdaq, its securities are expected to trade over-the-counter. In such an event, the Company intends to apply to list on Nasdaq in connection with the closing of a potential business combination.

In addition, as previously disclosed, on July 9, 2024, the Company received a notice from the Listing Qualifications Staff of Nasdaq, which stated that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) because it had not filed its Annual Report on Form 10-K for the period ended March 31, 2024 with the SEC. Nasdaq Listing Rule 5250(c)(1) requires listed companies to timely file all required periodic financial reports with the SEC. The Form 10-K has not yet been filed. Pursuant to Listing Rule 5810(d)(2), this deficiency serves as an additional and separate basis for delisting, and as such, the Company would be required to address this concern before the Panel if it appeals Staff's determination as well.