TREASURE GLOBAL INC (TGL): Nasdaq/NYSE listing notice — Treasure Global receives Nasdaq delisting notice for negative stockholders' equity

TREASURE GLOBAL INC

Stockholders' equity was negative $(130,332) as of June 30, 2023, below the $2.5M minimum.
Company has until November 23, 2023 to submit a compliance plan; extension possible to April 6, 2024.
Also fails alternative compliance standards based on market value or net income.
If plan not accepted or compliance not regained, Nasdaq will initiate delisting proceedings.
Notice has no immediate effect on trading of TGL common stock on Nasdaq.

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

TREASURE GLOBAL INC 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

October 9, 2023, Treasure Global Inc (the “Company”) received a written notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) dated October 9, 2023, notifying the Company that it is no longer in compliance with the minimum stockholders’ equity requirement for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(1) requires listed companies to maintain stockholders’ equity of at least $2,500,000. In the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2023, the Company reported stockholders’ equity of $(130,332), which is below the minim

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Source: SEC EDGAR

accession 0001013762-23-003524

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