ALKALINE WATER Co INC (WTER): Nasdaq/NYSE listing notice — Alkaline Water Q3 revenue record $15.9M (+21% YoY); CEO changed to Frank Chessman after Lazaran medical leave

Net revenue for the quarter ended December 31, 2022, was approximately $15.9 million, an increase of more than 21% compared to $13.1 million in the same period last year. Gross profit for the quarter was approximately $3.9 million, representing a gross margin of 24.7%, up 300 basis points from 21.7% in the second quarter fiscal year 2023. Total operating expenses were approximately $7.5 million, a 46% reduction compared to the same period last year. Total operating loss was approximately ($3.6 million), an improvement of more than 67% compared to ($10.9 million) in the same period last year. Net loss for the quarter was ($3.97 million), an improvement of 63% compared to the same period last year. Net loss per share was ($0.03) compared to ($0.10) in Q3 Fiscal 2022.

February 22, 2023, The Alkaline Water Company Inc. (the "Company") received a letter (the "Letter") from the Listing Qualifications Department of The Nasdaq Stock Market (the "Nasdaq"), notifying the Company that since the Company had not yet filed its Form 10-Q for the period ended December 31, 2022, it no longer complies with the Nasdaq's Listing Rule 5250(c)(1) (the "Rule") relating to the Company's obligation to file periodic financial reports for continued listing. The Company has since satisfied this obligation by filing its delinquent Form 10-Q on February 28, 2023.