Zoomcar receives Nasdaq delisting notice for MVPHS non-compliance; CEO salary halved

Zoomcar Holdings, Inc.

Received Nasdaq notice on July 22, 2024 for failing minimum market value of publicly held shares ($15M).
180-day compliance period ends Jan 21, 2025; must close at $15M for 10 consecutive days.
Company also not compliant with minimum bid price ($1) or market value of listed securities ($35M).
CEO Hiroshi Nishijima's base salary reduced 50% from $350K to $175K, retroactive to June 1, 2024.

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