Company is no longer in compliance with the minimum shareholders’ equity requirement for continued listing on the Nasdaq Capital Market. Nasdaq Rule 5550(b)(1) requires listed companies to maintain shareholders’ equity of at least $2,500,000.
Company did not meet the alternative compliance standards relating to the market value of listed securities or net income from continuing operations, as set forth in Nasdaq Rule 5550(b)(1).
In accordance with Nasdaq Rule 5810(c)(2)(A), the Company has 45 calendar days, or until January 6, 2023, to submit a plan to regain compliance. If the plan is accepted, Nasdaq can grant an extension of up to 180 calendar days from the date of the letter to evidence compliance.
GMV Price at posting:
3.9¢ Sentiment: None Disclosure: Not Held
