AI Financial Corp (AIFC): Nasdaq/NYSE listing notice — JanOne receives Nasdaq notice of non-compliance with $2.5M equity minimum

AI Financial Corp

On Nov 23, 2022, JanOne received Nasdaq notice of failure to comply with Listing Rule 5550(b)(1) requiring minimum $2.5M in stockholders' equity.
Notice has no immediate effect on listing; company has 45 days to submit a plan to regain compliance.
If plan accepted, Nasdaq may grant up to 180-day extension for company to demonstrate compliance.
Company is evaluating actions but has not finalized its plan to submit to Nasdaq staff.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

AI Financial Corp received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

November 23, 2022, JanOne Inc. (the “Company”) received a notice (the “Nasdaq Notice”) from The NASDAQ Stock Market (“Nasdaq”) that the Company does not presently comply with Nasdaq’s Listing Rule 5550(b)(1) that requires the Company to maintain a minimum of $2,500,000 in stockholders’ equity for continued listing. The Nasdaq Notice does not have any immediate effect on the listing of the Company’s common stock on the Nasdaq Capital Market and the Company has 45 calendar days from the date of the Nasdaq Notice to submit a plan to Nasdaq to regain compliance with Nasdaq’s continued listing rule

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Source: SEC EDGAR

accession 0000950170-22-025696

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